Amwaj International’s H1 net profit down 32% to SAR 10.2 mln

Amwaj International’s H1 net profit down 32% to SAR 10.2 mln

03/09/2023 Argaam Exclusive

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Amwaj International Co. reported a net profit of SAR 10.2 million for the year to June 30, 2023, a decline of 32% from SAR 15 million a year ago.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 166.22 154.89 (6.8 %)
Gross Income 29.70 27.56 (7.2 %)
Operating Income 17.91 14.04 (21.6 %)
Net Income 15.03 10.15 (32.4 %)
Average Shares 6.00 6.00 -
EPS (Riyals) 2.50 1.69 (32.4 %)

Revenue declined 6.8% year-on-year (YoY) on lower sales of the heating, ventilation, air conditioning and home appliances solutions sector. The company also cited seasonal factors, high cost of financing, and increased marketing expenses.



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 166.22 154.89 (6.8 %)
Gross Income 29.70 27.56 (7.2 %)
Operating Income 17.91 14.04 (21.6 %)
Net Income 15.03 10.15 (32.4 %)
Average Shares 6.00 6.00 -
EPS (Riyals) 2.50 1.69 (32.4 %)

Total shareholders’ equity, no minority interest, reached SAR 132.65 million by June 30, 2023, compared to SAR 108.14 million in the prior year.

 

Quarterly Results

Period

Revenue (SAR mln)

Net Profit (SAR mln)

EPS (SAR)

H1 2021

165.43

21.08

3.51

H2 2021

105.12

7.18

1.20

H1 2022

166.22

15.03

2.50

H2 2022

157.70

14.00

2.34

H1 2023

154.89

10.15

1.69

 

View more financial results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2014 - - - - - -
H2 2014 - - - - - -
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 165.43 - 36.18 - 26.24 -
H2 2021 105.13 - 21.69 - 9.65 -
H1 2022 166.22 0.5 % 29.70 (17.9 %) 17.91 (31.7 %)
H2 2022 157.70 50.0 % 34.48 59.0 % 22.49 133.2 %
H1 2023 154.89 (6.8 %) 27.56 (7.2 %) 14.04 (21.6 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2014 - - - - - -
H2 2014 - - - - - -
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 21.08 - 3.51 - 21.08 3.51
H2 2021 7.18 - 1.20 - 7.18 1.20
H1 2022 15.03 (28.7 %) 2.50 - 15.03 2.50
H2 2022 14.00 94.9 % 2.33 - 14.00 2.33
H1 2023 10.15 (32.4 %) 1.69 - 10.15 1.69

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2014 - - -
H2 2014 - - -
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 21.39 % 14.58 % 10.45 %
H1 2022 18.94 % 11.53 % 8.18 %
H2 2022 19.82 % 13.63 % 8.96 %
H1 2023 19.85 % 12.99 % 7.73 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2014 - - - -
H2 2014 - - - -
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 6.00 - - 17.68
H2 2021 6.00 4.71 4.71 15.52
H1 2022 6.00 3.70 3.70 18.02
H2 2022 6.00 4.84 4.84 20.42
H1 2023 6.00 4.03 4.03 22.11

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2014 - - -
H2 2014 - - -
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 20.02 20.02 4.11
H2 2022 22.33 22.33 5.29
H1 2023 27.33 27.33 4.98


Financial Ratios
Current
Market Cap (M Riyal) 299.70
Enterprise Value (EV) (M) 479.51
Shares Outstanding ((M)) 6.00
Book Value (BV) ( Riyal) 21.62
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 18.78
Price/book 2.31
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Share Price

Amwaj International Co.
49.95
2.00 4.17 %

Amwaj International Co. (AMWAJ INTERNATIONAL)

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