Ladun’s H1 2024 profit drops 56% to SAR 32.4M

Ladun’s H1 2024 profit drops 56% to SAR 32.4M

01/09/2024 Argaam Exclusive

View other reports

Ladun Investment Co.'s net earnings in H1 2024 declined to SAR 32.4 million, compared to SAR 73.1 million a year earlier.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 652.13 646.76 (0.8 %)
Gross Income 147.04 137.79 (6.3 %)
Operating Income 79.76 53.12 (33.4 %)
Net Income 73.15 32.43 (55.7 %)
Average Shares 500.00 500.00 -
EPS (Riyals) 0.15 0.06 (55.7 %)

The drop was attributed to a decrease in revenues from real estate development and factories segments, lower performance of contracting and factories businesses, losses from the investment portfolio and higher financing costs.

 

The gross profit margin decreased in the first half of 2024 to 21% from 22.5% in the same period of 2023. Operating profit also fell to 8% from 12% last year.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 652.13 646.76 (0.8 %)
Gross Income 147.04 137.79 (6.3 %)
Operating Income 79.76 53.12 (33.4 %)
Net Income 73.15 32.43 (55.7 %)
Average Shares 500.00 500.00 -
EPS (Riyals) 0.15 0.06 (55.7 %)

Shareholders’ equity, no minority interest, rose to SAR 607.71 million as of June 30, 2023, from SAR 602.28 million a year earlier.

 

Historical Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR/Share)

H1 2021

402.40

73.49

0.15

H2 2021

367.42

7.31

0.01

H1 2022

513.89

30.01

0.06

H2 2022

367.29

30.18

0.06

H1 2023

652.13

73.15

0.15

H2 2023

783.88

36.19

0.07

H1 2024

646.76

32.43

0.06

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 176.02 - 28.22 - (0.97) -
H2 2020 351.00 - 77.58 - 32.93 -
H1 2021 402.40 128.6 % 35.86 27.1 % 10.48 1182.2 %
H2 2021 367.42 4.7 % 66.99 (13.7 %) 25.40 (22.9 %)
H1 2022 513.89 27.7 % 81.88 128.3 % 43.16 311.8 %
H2 2022 367.29 0.0 % 85.18 27.2 % 34.27 34.9 %
H1 2023 652.13 26.9 % 147.04 79.6 % 79.76 84.8 %
H2 2023 783.89 113.4 % 151.05 77.3 % 74.16 116.4 %
H1 2024 646.76 (0.8 %) 137.79 (6.3 %) 53.12 (33.4 %)


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 (3.02) - (0.01) - (3.02) (0.01)
H2 2020 27.84 - 0.06 - 27.84 0.06
H1 2021 73.49 2530.5 % 0.15 57.58 15.91 0.03
H2 2021 7.31 (73.7 %) 0.01 - 7.31 0.01
H1 2022 30.01 (59.2 %) 0.06 - 30.01 0.06
H2 2022 30.18 312.6 % 0.06 5.51 24.67 0.05
H1 2023 73.15 143.7 % 0.15 - 73.15 0.15
H2 2023 36.19 19.9 % 0.07 (11.75) 47.94 0.10
H1 2024 32.43 (55.7 %) 0.06 2.50 29.93 0.06

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 20.07 % 15.69 % 4.71 %
H1 2021 15.06 % 12.65 % 5.81 %
H2 2021 13.36 % 8.31 % 3.02 %
H1 2022 16.89 % 11.37 % 4.24 %
H2 2022 18.96 % 13.13 % 6.21 %
H1 2023 22.78 % 14.44 % 9.60 %
H2 2023 20.76 % 13.13 % 8.43 %
H1 2024 20.19 % 11.60 % 5.44 %


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 500.00 - - 1.08
H2 2020 500.00 0.05 0.05 0.89
H1 2021 500.00 0.20 0.09 1.08
H2 2021 500.00 0.16 0.05 1.03
H1 2022 500.00 0.07 0.07 1.09
H2 2022 500.00 0.12 0.11 1.10
H1 2023 500.00 0.21 0.20 1.20
H2 2023 500.00 0.22 0.24 1.19
H1 2024 500.00 0.14 0.16 1.22

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 20.15 20.15 1.38
H2 2022 13.21 14.54 1.44
H1 2023 8.23 8.69 1.41
H2 2023 27.44 24.77 5.04
H1 2024 37.52 33.07 4.24

Business Segments (Million)

Compared With The
Period Real estate investment Construction sector Industrial development services segment Restaurants
Q2 2020 114.25 23.88 - 1.31 36.59
Q4 2020 171.37 117.42 - 0.49 61.72
Q2 2021 343.87 30.86 23.45 4.22 -
Q4 2021 198.00 132.93 39.79 (3.31) -
Q2 2022 307.32 156.57 48.46 1.55 -
Q4 2022 247.55 79.54 38.02 2.18 -
Q2 2023 499.24 100.70 47.52 4.67 -
Q4 2023 572.88 129.44 71.51 10.06 -
Q2 2024 449.94 144.61 40.29 11.92 -


Financial Ratios
Current
Market Cap (M Riyal) 1,750.00
Enterprise Value (EV) (M) 2,667.32
Shares Outstanding ((M)) 500.00
Book Value (BV) ( Riyal) 1.19
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 14.45
Price/book 2.94
more

Share Price

Ladun Investment Co.
3.50
(0.03) (0.85 %)

Ladun Investment Co. (LADUN)

More

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.