APICO H1 2024 profit falls 19% to SAR 5.3M

APICO H1 2024 profit falls 19% to SAR 5.3M

18/08/2024 Argaam Exclusive

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Arabian Plastic Industrial Co. (APICO) reported a net profit of SAR 5.3 million in H1 2024, a slump of 19% from SAR 6.5 million in the year-earlier period.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 82.47 86.43 4.8 %
Gross Income 14.31 14.71 2.8 %
Operating Income 8.16 7.45 (8.6 %)
Net Income 6.51 5.30 (18.6 %)
Average Shares 5.00 5.00 -
EPS (Riyals) 1.30 1.06 (18.6 %)

The first-half sales increased by 4.79% compared to the same period last year mainly due to higher injection molding sales.

 

Meanwhile, H1 net profit dropped year-on-year (YoY) due to higher prices of materials, increased overhead costs and increased financing costs.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 82.47 86.43 4.8 %
Gross Income 14.31 14.71 2.8 %
Operating Income 8.16 7.45 (8.6 %)
Net Income 6.51 5.30 (18.6 %)
Average Shares 5.00 5.00 -
EPS (Riyals) 1.30 1.06 (18.6 %)

Total shareholders’ equity, no minority interest, reached SAR 101.29 million by June 30, 2024, compared to SAR 89.10 million in the corresponding period of the year before.

 

Development of Interim Results

Period

Revenue

(SAR mln)

Net Profit

( SAR mln)

Earnings Per Share (SAR)

H1 2023

82.47

6.51

1.30

H2 2023

74.18

6.52

1.31

H1 2024

85.42

5.30

1.06

 

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 - - - - - -
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 %
H2 2023 74.18 (4.0 %) 13.73 29.2 % 7.97 40.6 %
H1 2024 86.43 4.8 % 14.71 2.8 % 7.45 (8.6 %)


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 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
H2 2023 6.52 42.7 % 1.30 - 6.52 1.30
H1 2024 5.30 (18.6 %) 1.06 - 5.30 1.06

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 - - -
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 %
H2 2023 17.90 % 16.45 % 8.32 %
H1 2024 17.71 % 15.83 % 7.36 %


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 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
H2 2023 5.00 2.61 2.61 19.20
H1 2024 5.00 2.36 2.36 20.26

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 - - -
H2 2022 15.21 15.21 1.71
H1 2023 14.89 14.89 1.85
H2 2023 16.00 16.00 2.17
H1 2024 15.02 15.02 1.75


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.
33.00
(0.50) (1.49 %)

Arabian Plastic Industrial Co. (APICO)

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