Amwaj’s net profit sinks 59% to SAR 4.2M in H1 2024

Amwaj’s net profit sinks 59% to SAR 4.2M in H1 2024

01/09/2024 Argaam Exclusive

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Amwaj International Co. reported a net profit of SAR 4.2 million for H1 2024, a decline of 59% from SAR 10.2 million a year ago. 



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 154.89 158.65 2.4 %
Gross Income 27.56 28.93 5.0 %
Operating Income 14.04 12.86 (8.4 %)
Net Income 10.15 4.15 (59.1 %)
Average Shares 6.00 6.00 -
EPS (Riyals) 1.69 0.69 (59.1 %)

The company attributed the profit drop in H1 2024 to rising interest rates (SAIBOR) and shipping costs, in addition to the lower profit margin on products. This came despite higher revenues due to the increase in sales volume.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 154.89 158.65 2.4 %
Gross Income 27.56 28.93 5.0 %
Operating Income 14.04 12.86 (8.4 %)
Net Income 10.15 4.15 (59.1 %)
Average Shares 6.00 6.00 -
EPS (Riyals) 1.69 0.69 (59.1 %)

Total shareholders’ equity, no minority interest, reached SAR 133.84 million by June. 30, 2024, compared to SAR 132.65 million in the prior year.

 

Historical Data

 

 

 

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2021

165.43

21.08

3.51

H2 2021

105.12

7.18

1.2

H1 2022

166.22

15.03

2.5

H2 2022

157.70

14.00

2.34

H1 2023

154.89

10.15

1.69

H2 2023

147.04

5.81

0.97

H1 2024

158.65

4.15

0.69

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 - - - - - -
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 %)
H2 2023 147.04 (6.8 %) 36.41 5.6 % 19.90 (11.5 %)
H1 2024 158.65 2.4 % 28.93 5.0 % 12.86 (8.4 %)


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 - - - - - -
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
H2 2023 5.81 (58.5 %) 0.97 - 5.81 0.97
H1 2024 4.15 (59.1 %) 0.69 - 4.15 0.69

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 - - -
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 %
H2 2023 21.19 % 12.58 % 5.29 %
H1 2024 21.37 % 11.99 % 3.26 %


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 - - - -
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
H2 2023 6.00 2.66 2.66 21.62
H1 2024 6.00 1.66 1.66 22.31

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 20.02 20.02 4.11
H2 2022 22.33 22.33 5.29
H1 2023 27.33 27.33 4.98
H2 2023 19.17 19.17 2.36
H1 2024 26.33 26.33 1.96


Financial Ratios
Current
Market Cap (M Riyal) 287.70
Enterprise Value (EV) (M) 467.51
Shares Outstanding ((M)) 6.00
Book Value (BV) ( Riyal) 21.62
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 18.03
Price/book 2.22
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Share Price

Amwaj International Co.
47.95
3.95 8.98 %

Amwaj International Co. (AMWAJ INTERNATIONAL)

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