Saudi Top net profit surges 92% to SAR 32.8 mln in 2022
23/03/2023
Argaam Exclusive
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Saudi Top for Trading Co. reported a net profit of SAR 32.8 million for 2022, an increase of 92% from a net profit of SAR 17.1 million in the year-earlier period.
Financials (M)
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 191.77 | 186.54 | (2.7 %) |
| Gross Income | 35.75 | 54.08 | 51.3 % |
| Operating Income | 18.05 | 33.95 | 88.1 % |
| Net Income | 17.10 | 32.26 | 88.7 % |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | 0.43 | 0.81 | 88.7 % |
This was fostered by lower average cost of raw materials and higher average selling prices.
Compared With The
Current Half Annual Comparison (M)
| Item | H2 2021 | H2 2022 | Change |
|---|---|---|---|
| Revenues | 98.84 | 80.75 | (18.3 %) |
| Gross Income | 20.64 | 19.61 | (4.9 %) |
| Operating Income | 11.03 | 9.82 | (10.9 %) |
| Net Income | 10.48 | 8.86 | (15.5 %) |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | 0.26 | 0.22 | (15.5 %) |
Shareholders’ equity, no minority interest, reached SAR 85.41 million as of Dec. 31, 2022, compared to SAR 58.71 million in a prior year period.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2022 | 105.80 | 13.8 % | 34.46 | 128.0 % | 24.12 | 243.6 % |
| H2 2022 | 80.75 | (18.3 %) | 19.61 | (4.9 %) | 9.82 | (10.9 %) |
| 2022 | 186.54 | (2.7 %) | 54.08 | 51.3 % | 33.95 | 88.1 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2022 | 23.40 | 253.5 % | 0.59 | - | 23.40 | 0.59 |
| H2 2022 | 8.86 | (15.5 %) | 0.22 | - | 8.86 | 0.22 |
| 2022 | 32.26 | 88.7 % | 0.81 | - | 32.26 | 0.81 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2022 | 26.92 % | 18.79 % | 16.55 % |
| H2 2022 | 28.99 % | 20.23 % | 17.29 % |
| 2022 | 28.99 % | 20.22 % | 17.29 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2022 | 40.00 | 0.85 | 0.85 | 1.90 |
| H2 2022 | 40.00 | 0.81 | 0.81 | 2.14 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2022 | - | - | - |
| H2 2022 | 14.01 | 14.01 | 5.29 |
Business Segments (Million)
Q4 2022
| Period | The industrial sector | The commercial sector |
|---|---|---|
| Q2 2022 | 86.20 | 19.60 |
| Q4 2022 | 63.86 | 16.89 |
| Current | |
| Market Cap (M Riyal) | 296.00 |
| Enterprise Value (EV) (M) | 289.18 |
| Shares Outstanding ((M)) | 40.00 |
| Book Value (BV) ( Riyal) | 1.70 |
| Par Value ( Riyal) | 1.00 |
| Adjusted P/E (Last12) | More than 100 |
| Price/book | 4.35 |
Share Price
Saudi Top for Trading Co. (SAUDI TOP)
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