Aqaseem’s net profit down 13% to SAR 5M in H1 2024

Aqaseem’s net profit down 13% to SAR 5M in H1 2024

28/08/2024 Argaam Exclusive

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Aqaseem Factory for Chemicals and Plastics Co. reported a net profit of SAR 5 million for the first six months of 2024, a 13% decline from SAR 5.8 million in the same period a year ago.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 74.62 93.48 25.3 %
Gross Income 17.81 22.49 26.3 %
Operating Income 6.46 7.54 16.6 %
Net Income 5.77 5.01 (13.2 %)
Average Shares 2.50 2.50 -
EPS (Riyals) 2.31 2.00 (13.2 %)


Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 74.62 93.48 25.3 %
Gross Income 17.81 22.49 26.3 %
Operating Income 6.46 7.54 16.6 %
Net Income 5.77 5.01 (13.2 %)
Average Shares 2.50 2.50 -
EPS (Riyals) 2.31 2.00 (13.2 %)

The annual profit slump was due to the increase in selling & marketing expenses amid the company’s foray into new markets. This is addition to the rise in general & administrative expenses and financing costs.

 

Total shareholders’ equity (no minority interest) advanced to SAR 60.89 million as of June 30, 2024, from SAR 51.54 million a year earlier.

 

Historical Data

Period

Revenues

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2021

45.58

3.96

1.58

H2 2021

53.14

3.26

1.31

H1 2022

61.24

1.71

0.69

H2 2022

79.27

4.31

1.72

H1 2023

74.62

5.77

2.31

H2 2023

76.21

4.37

1.75

H1 2024

93.48

5.00

2.00

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 35.48 - 10.43 - 3.73 -
H2 2020 34.77 - 10.15 - 4.32 -
H1 2021 45.58 28.5 % 11.92 14.3 % 3.95 5.9 %
H2 2021 53.15 52.9 % 11.97 17.9 % 4.34 0.6 %
H1 2022 61.24 34.4 % 12.27 2.9 % 2.24 (43.4 %)
H2 2022 79.27 49.2 % 16.76 40.0 % 4.96 14.3 %
H1 2023 74.62 21.9 % 17.81 45.2 % 6.46 188.6 %
H2 2023 76.21 (3.9 %) 21.46 28.1 % 6.20 24.9 %
H1 2024 93.48 25.3 % 22.49 26.3 % 7.54 16.6 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 3.52 - 1.41 - 3.52 1.41
H2 2020 4.05 - 1.62 - 4.05 1.62
H1 2021 3.95 12.2 % 1.58 - 3.95 1.58
H2 2021 3.27 (19.3 %) 1.31 - 3.27 1.31
H1 2022 1.71 (56.7 %) 0.69 - 1.71 0.69
H2 2022 4.31 31.9 % 1.72 - 4.31 1.72
H1 2023 5.77 237.0 % 2.31 - 5.77 2.31
H2 2023 4.37 1.4 % 1.75 - 4.37 1.75
H1 2024 5.01 (13.2 %) 2.00 - 5.01 2.00

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 29.29 % - 10.77 %
H1 2021 27.46 % 12.03 % 9.96 %
H2 2021 24.19 % 11.67 % 7.31 %
H1 2022 21.18 % 8.60 % 4.35 %
H2 2022 20.65 % 7.16 % 4.28 %
H1 2023 22.46 % 9.26 % 6.55 %
H2 2023 26.04 % 10.47 % 6.72 %
H1 2024 25.90 % 10.59 % 5.52 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2015 - - - -
H2 2015 - - - -
H1 2016 - - - -
H2 2016 - - - -
H1 2017 - - - -
H2 2017 - - - -
H1 2018 - - - -
H2 2018 - - - -
H1 2019 - - - -
H2 2019 - - - -
H1 2020 2.50 - - -
H2 2020 2.50 3.03 3.03 13.09
H1 2021 2.50 3.20 3.20 14.67
H2 2021 2.50 2.89 2.89 15.98
H1 2022 2.50 1.99 1.99 16.66
H2 2022 2.50 2.41 2.41 18.31
H1 2023 2.50 4.03 4.03 20.62
H2 2023 2.50 4.06 4.06 22.39
H1 2024 2.50 3.75 3.75 24.36

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 - - -
H1 2022 45.20 45.20 5.40
H2 2022 20.77 20.77 2.73
H1 2023 16.87 16.87 3.30
H2 2023 17.36 17.36 3.14
H1 2024 15.44 15.44 2.38


Financial Ratios
Current
Market Cap (M Riyal) 160.00
Enterprise Value (EV) (M) 179.67
Shares Outstanding ((M)) 2.50
Book Value (BV) ( Riyal) 22.39
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 15.78
Price/book 2.86
more

Share Price

Aqaseem Factory for Chemicals and Plastics Co.
64.00
1.00 1.59 %

Aqaseem Factory for Chemicals and Plastics Co. (AQASEEM)

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