Meyar’s profit inches up to SAR 4.5 mln in 202
24/05/2023
Argaam Exclusive
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Meyar Co., which specializes in manufacturing hollow cement blocks, bricks, and ready-mixed concrete, reported a marginal rise in 2022 net profit to SAR 4.46 million, from SAR 4.45 million in 2021.
Financials (M)
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 41.29 | 38.07 | (7.8 %) |
| Gross Income | 9.33 | 8.31 | (10.9 %) |
| Operating Income | 4.16 | 2.74 | (34.1 %) |
| Net Income | 4.45 | 4.46 | 0.1 % |
| Average Shares | 1.06 | 1.06 | - |
| EPS (Riyals) | 4.20 | 4.20 | 0.1 % |
Compared With The
Current Half Annual Comparison (M)
| Item | H2 2021 | H2 2022 | Change |
|---|---|---|---|
| Revenues | 21.24 | 18.11 | (14.7 %) |
| Gross Income | 5.48 | 2.73 | (50.2 %) |
| Operating Income | 2.58 | 0.17 | (93.4 %) |
| Net Income | 2.49 | 1.28 | (48.6 %) |
| Average Shares | 1.06 | 1.06 | - |
| EPS (Riyals) | 2.34 | 1.20 | (48.6 %) |
The marginal profit rise was backed by an increase in other income from SAR 627,783 to SAR 1.79 million.
Shareholders’ equity, no minority interest, rose to SAR 19.77 million as of Dec. 31, 2022, from SAR 15.37 million a year earlier.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2022 | 19.96 | (0.5 %) | 5.58 | 45.0 % | 2.57 | 62.9 % |
| H2 2022 | 18.11 | (14.7 %) | 2.73 | (50.2 %) | 0.17 | (93.4 %) |
| 2022 | 38.07 | (7.8 %) | 8.31 | (10.9 %) | 2.74 | (34.1 %) |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2022 | 3.18 | 61.4 % | 2.99 | - | 3.18 | 2.99 |
| H2 2022 | 1.28 | (48.6 %) | 1.20 | - | 1.28 | 1.20 |
| 2022 | 4.46 | 0.1 % | 4.20 | - | 4.46 | 4.20 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2022 | 26.86 % | 20.97 % | 13.75 % |
| H2 2022 | 21.84 % | 14.77 % | 11.71 % |
| 2022 | 21.84 % | 14.77 % | 11.71 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2022 | 1.06 | 5.34 | 5.34 | 17.48 |
| H2 2022 | 1.06 | 4.20 | 4.20 | 18.63 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2022 | - | - | - |
| H2 2022 | - | - | - |
Business Segments (Million)
2022
| Period | Ready- mix concrete segment | Blocks segment | Interlocks segment | Supplementary |
|---|
| Current | |
| Market Cap (M Riyal) | 90.10 |
| Enterprise Value (EV) (M) | - |
| Shares Outstanding ((M)) | 1.33 |
| Book Value (BV) ( Riyal) | 27.62 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | Neg |
| Price/book | 2.46 |
Share Price
Meyar Co. (MEYAR)
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