APICO profit rises 38% to SAR 6.5 mln in H1 2023

APICO profit rises 38% to SAR 6.5 mln in H1 2023

03/09/2023 Argaam Exclusive

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Arabian Plastic Industrial Co. (APICO) posted a net profit of SAR 6.5 million in H1 2023, up 38% from SAR 4.7 million a year earlier.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 77.31 82.47 6.7 %
Gross Income 10.71 14.31 33.6 %
Operating Income 6.07 8.16 34.4 %
Net Income 4.74 6.51 37.6 %
Average Shares 5.00 5.00 -
EPS (Riyals) 0.95 1.30 37.6 %

The profit increase was driven by a 34.5% increase in gross profit due to effective mix of profitable products, in addition to lower materials prices.

 

Shareholders’ equity, no minority interest, stood at SAR 89.10 million as of June 30, 2023, compared to SAR 78.02 million a year earlier.



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 77.31 82.47 6.7 %
Gross Income 10.71 14.31 33.6 %
Operating Income 6.07 8.16 34.4 %
Net Income 4.74 6.51 37.6 %
Average Shares 5.00 5.00 -
EPS (Riyals) 0.95 1.30 37.6 %

Quarterly Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR/share)

H1 2021

57.21

3.64

0.73

H2 2021

59.47

4.17

0.83

H1 2022

77.31

4.74

0.95

H2 2022

77.26

4.56

0.91

H1 2023

82.47

6.51

1.30

 

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 57.21 - 8.87 - 4.35 -
H2 2021 59.48 - 8.82 - 4.92 -
H1 2022 77.31 35.1 % 10.71 20.8 % 6.07 39.6 %
H2 2022 77.26 29.9 % 10.63 20.5 % 5.67 15.2 %
H1 2023 82.47 6.7 % 14.31 33.6 % 8.16 34.4 %


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 3.64 - 0.73 - 3.64 0.73
H2 2021 4.17 - 0.83 1.25 2.92 0.58
H1 2022 4.74 30.1 % 0.95 - 4.74 0.95
H2 2022 4.57 9.6 % 0.91 - 4.57 0.91
H1 2023 6.51 37.6 % 1.30 - 6.51 1.30

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 15.15 % 15.60 % 5.62 %
H1 2022 14.28 % 14.72 % 5.60 %
H2 2022 13.80 % 13.53 % 6.02 %
H1 2023 15.61 % 14.59 % 6.94 %


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 5.00 - - 13.83
H2 2021 5.00 1.56 1.31 14.66
H1 2022 5.00 1.78 1.53 15.60
H2 2022 5.00 1.86 1.86 16.52
H1 2023 5.00 2.22 2.22 17.82

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 - - -
H2 2022 15.21 15.21 1.71
H1 2023 14.89 14.89 1.85


Financial Ratios
Current
Market Cap (M Riyal) 167.50
Enterprise Value (EV) (M) 220.96
Shares Outstanding ((M)) 5.00
Book Value (BV) ( Riyal) 19.20
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 12.85
Price/book 1.74
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Share Price

Arabian Plastic Industrial Co.
33.50
0.00 0.00 %

Arabian Plastic Industrial Co. (APICO)

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