Saudi Top profit drops 8% to SAR 2.9M in H1 2024

Saudi Top profit drops 8% to SAR 2.9M in H1 2024

08/08/2024 Argaam Exclusive

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Saudi Top for Trading Co. reported a net profit of SAR 2.9 million for H1 2024, a drop of 8% from SAR 3.2 million in the year-earlier period.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 67.66 73.98 9.4 %
Gross Income 10.53 10.80 2.6 %
Operating Income 3.79 3.84 1.1 %
Net Income 3.16 2.91 (7.8 %)
Average Shares 40.00 40.00 -
EPS (Riyals) 0.08 0.07 (7.8 %)


Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 67.66 73.98 9.4 %
Gross Income 10.53 10.80 2.6 %
Operating Income 3.79 3.84 1.1 %
Net Income 3.16 2.91 (7.8 %)
Average Shares 40.00 40.00 -
EPS (Riyals) 0.08 0.07 (7.8 %)

The company cited increased finance costs (FCs), offset by better revenue due to a 9% year-on-year (YoY) rise in sales volumes.

 

Shareholders’ equity, no minority interest, declined to SAR 71.02 million by the end of the six-month period, from SAR 74.17 million a year earlier.

 

Interim Results

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR/Share)

H1 2021

92.93

6.62

0.16

H2 2021

98.84

10.48

0.26

H1 2022

105.80

23.45

0.58

H2 2022

80.74

9.33

0.23

H1 2023

67.66

3.16

0.08

H2 2023

74.50

1.12

0.03

H1 2024

73.98

2.91

0.07

 

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 92.93 - 15.12 - 7.02 -
H2 2021 98.84 - 20.64 - 11.03 -
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 %)
H1 2023 67.66 (36.1 %) 10.53 (69.4 %) 3.79 (84.3 %)
H2 2023 74.51 (7.7 %) 10.95 (44.2 %) 2.21 (77.5 %)
H1 2024 73.98 9.4 % 10.80 2.6 % 3.84 1.1 %


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 6.62 - 0.17 - 6.62 0.17
H2 2021 10.48 - 0.26 - 10.48 0.26
H1 2022 23.40 253.5 % 0.59 - 23.40 0.59
H2 2022 8.86 (15.5 %) 0.22 - 8.86 0.22
H1 2023 3.16 (86.5 %) 0.08 - 3.16 0.08
H2 2023 1.12 (87.4 %) 0.03 - 1.12 0.03
H1 2024 2.91 (7.8 %) 0.07 - 2.91 0.07

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 18.64 % 10.94 % 8.91 %
H1 2022 26.92 % 18.79 % 16.55 %
H2 2022 28.99 % 20.23 % 17.29 %
H1 2023 20.31 % 12.08 % 8.09 %
H2 2023 15.11 % 7.85 % 3.01 %
H1 2024 14.65 % 8.22 % 2.71 %


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 40.00 - - -
H2 2021 40.00 0.43 0.43 1.47
H1 2022 40.00 0.85 0.85 1.90
H2 2022 40.00 0.81 0.81 2.14
H1 2023 40.00 0.30 0.30 1.85
H2 2023 40.00 0.11 0.11 1.70
H1 2024 40.00 0.10 0.10 1.78

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 14.01 14.01 5.29
H1 2023 33.30 33.30 5.39
H2 2023 70.92 70.92 4.45
H1 2024 68.41 68.41 3.88

Business Segments (Million)

Compared With The
Period The industrial sector The commercial sector
Q2 2021 80.31 12.61
Q4 2021 82.98 15.86
Q2 2022 86.20 19.60
Q4 2022 63.86 16.89
Q2 2023 51.36 16.29
Q4 2023 57.07 17.43
Q2 2024 47.39 26.59


Financial Ratios
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
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Share Price

Saudi Top for Trading Co.
7.40
0.48 6.94 %

Saudi Top for Trading Co. (SAUDI TOP)

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