Naqi Q1 2022 profit down 25% to SAR 10 mln

Naqi Q1 2022 profit down 25% to SAR 10 mln

21/06/2022 Argaam Exclusive

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Naqi Water Co., which is planned to be listed on the Saudi Exchange (Tadawul), posted a net profit of SAR 10 million for Q1 2022, a fall of 25%, compared to SAR 13.3 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 57.55 60.22 4.6 %
Gross Income 21.55 18.27 (15.2 %)
Operating Income 13.76 9.91 (28.0 %)
Net Income 13.00 9.95 (23.5 %)
Average Shares 20.00 20.00 -
EPS (Riyals) 0.65 0.50 (23.5 %)

The profit decline was due to higher cost of sales and operating expenses, as well as lower operating income. This is despite an increase in sales and other income, in addition lower cost of finance.

 

Total shareholders’ equity, excluding minority interest, amounted to SAR 217.88 million as of March 31, 2022, compared to SAR 207.93 million a year earlier.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2013 - - - - - -
Q2 2013 - - - - - -
Q3 2013 - - - - - -
Q4 2013 - - - - - -
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 - - - - - -
Q1 2018 - - - - - -
Q2 2018 - - - - - -
Q3 2018 - - - - - -
Q4 2018 - - - - - -
Q1 2019 - - - - - -
Q2 2019 - - - - - -
Q3 2019 - - - - - -
Q4 2019 - - - - - -
Q1 2020 57.69 - 20.05 - 15.12 -
Q2 2020 75.96 - 31.56 - 26.22 -
Q3 2020 - - - - - -
Q4 2020 - - - - - -
Q1 2021 57.55 (0.2 %) 21.55 7.5 % 13.76 (9.0 %)
Q2 2021 80.34 5.8 % 34.26 8.6 % 26.23 0.0 %
Q3 2021 77.14 - 33.17 - 25.19 -
Q4 2021 62.80 - 23.98 - 13.09 -
Q1 2022 60.22 4.6 % 18.27 (15.2 %) 9.91 (28.0 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2013 - - - - - -
Q2 2013 - - - - - -
Q3 2013 - - - - - -
Q4 2013 - - - - - -
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 - - - - - -
Q1 2018 - - - - - -
Q2 2018 - - - - - -
Q3 2018 - - - - - -
Q4 2018 - - - - - -
Q1 2019 - - - - - -
Q2 2019 - - - - - -
Q3 2019 - - - - - -
Q4 2019 - - - - - -
Q1 2020 14.51 - 0.73 - 14.51 0.73
Q2 2020 26.50 - 1.33 - 26.50 1.33
Q3 2020 - - - - - -
Q4 2020 - - - - - -
Q1 2021 13.00 (10.4 %) 0.65 - 13.00 0.65
Q2 2021 25.98 (2.0 %) 1.30 - 25.98 1.30
Q3 2021 24.11 - 1.21 - 24.11 1.21
Q4 2021 14.27 - 0.71 - 14.27 0.71
Q1 2022 9.95 (23.5 %) 0.50 - 9.95 0.50

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 - - -
Q2 2021 - - -
Q3 2021 - - -
Q4 2021 40.66 % 34.80 % 27.85 %
Q1 2022 39.10 % 33.62 % 26.49 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2013 - - - -
Q2 2013 - - - -
Q3 2013 - - - -
Q4 2013 - - - -
Q1 2014 - - - -
Q2 2014 - - - -
Q3 2014 - - - -
Q4 2014 - - - -
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 - - - -
Q2 2016 - - - -
Q3 2016 - - - -
Q4 2016 - - - -
Q1 2017 - - - -
Q2 2017 - - - -
Q3 2017 - - - -
Q4 2017 - - - -
Q1 2018 - - - -
Q2 2018 - - - -
Q3 2018 - - - -
Q4 2018 - - - -
Q1 2019 - - - -
Q2 2019 - - - -
Q3 2019 - - - -
Q4 2019 - - - -
Q1 2020 20.00 - - 5.05
Q2 2020 20.00 - - 6.37
Q3 2020 - - - -
Q4 2020 - - - -
Q1 2021 20.00 - - 8.88
Q2 2021 20.00 - - 9.73
Q3 2021 20.00 - - 10.51
Q4 2021 20.00 3.87 3.87 10.40
Q1 2022 20.00 3.72 3.72 10.89

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 - - -
Q2 2021 - - -
Q3 2021 - - -
Q4 2021 - - -
Q1 2022 - - -

Business Segments (Million)

Compared With The
Period Local sales Export sales Logistics revenues Retail Sales Wholesale
Q1 2021 - - - 12.73 44.82
Q2 2021 - - - 21.56 58.78
Q3 2021 - - - 71.58 5.55
Q4 2021 - - - 30.22 32.58
Q1 2022 59.06 1.16 - - -


Financial Ratios
Current
Market Cap (M Riyal) 1,208.00
Enterprise Value (EV) (M) 1,128.03
Shares Outstanding ((M)) 20.00
EPS ( Riyal) (TTM) 1.57
Book Value (BV) ( Riyal) 13.61
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 38.49
P/E (TTM) 38.49
Price/book 4.44
Return on Average Assets (%) (TTM) 10.5
Return on Average Equity (%) (TTM) 12.0
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Share Price

Naqi Water Co.
60.40
(0.70) (1.15 %)

Naqi Water Co. (NAQI)

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