Molan Steel turns to loss of SAR 761,000 in 2022
22/03/2023
Argaam Exclusive
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Molan Steel reported a net loss of SAR 761,000 in 2022, against a net profit of SAR 4.2 million a year earlier.
Financials (M)
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 48.15 | 84.62 | 75.7 % |
| Gross Income | 7.83 | 5.32 | (32.0 %) |
| Operating Income | 4.47 | (0.41) | (109.1 %) |
| Net Income | 4.17 | (0.76) | (118.3 %) |
| Average Shares | 23.00 | 23.00 | - |
| EPS (Riyals) | 0.18 | (0.03) | (118.3 %) |
Compared With The
Current Half Annual Comparison (M)
| Item | H2 2021 | H2 2022 | Change |
|---|---|---|---|
| Revenues | 27.92 | 37.76 | 35.3 % |
| Gross Income | 3.37 | (0.18) | (105.2 %) |
| Operating Income | 2.13 | (3.20) | (250.2 %) |
| Net Income | 2.31 | (3.02) | (231.2 %) |
| Average Shares | 23.00 | 23.00 | - |
| EPS (Riyals) | 0.10 | (0.13) | (231.2 %) |
This was due to the sharp decline in global steel prices, as well as credit loss provision worth SAR 319.86.
Total shareholders' equity, no minority interest, reached SAR 34.83 million at the end of 2022, compared with SAR 27.30 million a year before.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2022 | 46.86 | 131.6 % | 5.49 | 23.2 % | 2.80 | 19.6 % |
| H2 2022 | 37.76 | 35.3 % | (0.18) | (105.2 %) | (3.20) | (250.2 %) |
| 2022 | 84.62 | 75.7 % | 5.32 | (32.0 %) | (0.41) | (109.1 %) |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2022 | 2.26 | 21.4 % | 0.10 | - | 2.26 | 0.10 |
| H2 2022 | (3.02) | (231.2 %) | (0.13) | 0.80 | (3.82) | (0.17) |
| 2022 | (0.76) | (118.3 %) | (0.03) | 0.80 | (1.56) | (0.07) |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2022 | 11.85 % | 7.54 % | 6.11 % |
| H2 2022 | 6.29 % | 0.67 % | (1.85 %) |
| 2022 | 6.29 % | 0.67 % | (1.85 %) |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2022 | 23.00 | 0.20 | 0.20 | 1.29 |
| H2 2022 | 23.00 | (0.03) | (0.07) | 1.51 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2022 | - | - | - |
| H2 2022 | NEG | NEG | 2.44 |
| Current | |
| Market Cap (M Riyal) | 85.12 |
| Enterprise Value (EV) (M) | 92.53 |
| Shares Outstanding ((M)) | 26.60 |
| Book Value (BV) ( Riyal) | 1.13 |
| Par Value ( Riyal) | 1.00 |
| Adjusted P/E (Last12) | Neg |
| Price/book | 2.83 |
Share Price
Molan Steel Co. (MOLAN)
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