Mayar’s 2022 net profit plummets 91% to SAR 1.6 mln
22/06/2023
Argaam Exclusive
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Mayar Holding Co.reported a net profit decline of 91% to SAR 1.6 million in 2022, compared to SAR 18.2 million in the year earlier period.
Financials (M)
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 286.24 | 413.79 | 44.6 % |
| Gross Income | 44.11 | 55.71 | 26.3 % |
| Operating Income | 14.93 | 7.66 | (48.7 %) |
| Net Income | 18.22 | 1.38 | (92.4 %) |
| Average Shares | 120.00 | 120.00 | - |
| EPS (Halala) | 15.18 | 1.15 | (92.4 %) |
Compared With The
Current Half Annual Comparison (M)
| Item | H2 2021 | H2 2022 | Change |
|---|
This was driven by the higher cost of raw materials for the companies operating in Egypt due to export difficulties and currency devaluation. Mayar also cited higher selling and distribution expenses and an increase in general and administrative expenses. Financing charges also rose during the period.
Shareholders’ equity, excluding minority interest, stood at SAR 77.1 million by Dec. 31, 2022, compared to SAR 14.8 million in the prior-year period.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2022 | 246.72 | - | 29.45 | - | 6.68 | - |
| H2 2022 | 167.07 | - | 26.26 | - | 0.98 | - |
| 2022 | 413.79 | 44.6 % | 55.71 | 26.3 % | 7.66 | (48.7 %) |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Halala) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2022 | 6.46 | - | 5.38 | - | 6.46 | 0.05 |
| H2 2022 | (5.08) | - | (4.23) | 2.19 | (7.27) | (0.06) |
| 2022 | 1.38 | (92.4 %) | 1.15 | 2.19 | (0.81) | (0.01) |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2022 | - | - | - |
| H2 2022 | 13.46 % | 5.41 % | (0.20 %) |
| 2022 | 13.46 % | 5.41 % | (0.20 %) |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Halala) | Adjusted EPS (Halala) | Book Value (BV) |
|---|---|---|---|---|
| H1 2022 | 120.00 | - | - | 0.61 |
| H2 2022 | 120.00 | 1.15 | (0.68) | 0.64 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2022 | - | - | - |
| H2 2022 | - | - | - |
Business Segments (Million)
Q4 2022
| Period | Elevators and Escalators | Feed and agriculture | Plastic | Deletions |
|---|---|---|---|---|
| Q2 2022 | 86.39 | 108.25 | 52.07 | - |
| Q4 2022 | 87.38 | 100.40 | 43.32 | (64.03) |
| Current | |
| Market Cap (M Riyal) | 420.00 |
| Enterprise Value (EV) (M) | 665.68 |
| Shares Outstanding ((M)) | 120.00 |
| Book Value (BV) ( Riyal) | 0.27 |
| Par Value ( Halala) | 50.00 |
| Adjusted P/E (Last12) | Neg |
| Price/book | 12.95 |
Share Price
Mayar Holding Co. (MAYAR)
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