Meyar 2023 profit falls 66% to SAR 1.5M
View other reports
Meyar Co. reported a net profit of SAR 1.5 million for 2023, a drop of 66% compared to SAR 4.5 million a year earlier.
Financials (M)
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 38.07 | 34.14 | (10.3 %) |
| Gross Income | 8.31 | 3.69 | (55.6 %) |
| Operating Income | 2.74 | (3.01) | (209.6 %) |
| Net Income | 4.46 | 1.49 | (66.5 %) |
| Average Shares | 1.06 | 1.33 | 25.0 % |
| EPS (Riyals) | 4.20 | 1.13 | (73.2 %) |
The company recorded lower revenues compared with a year earlier, due to the entry of new competitors into the market. It also cited the completion of some major projects, in which the company was the main supplier.
Meyar also reported higher cost of raw materials used in production, and an increase in the depreciation item in operating expenses due to the entry of new assets this year.
Current Half Annual Comparison (M)
| Item | H2 2022 | H2 2023 | Change |
|---|---|---|---|
| Revenues | 18.11 | 17.07 | (5.7 %) |
| Gross Income | 2.73 | 1.77 | (35.0 %) |
| Operating Income | 0.17 | (1.56) | (1013.6 %) |
| Net Income | 1.28 | 2.29 | 79.3 % |
| Average Shares | 1.06 | 1.33 | 25.0 % |
| EPS (Riyals) | 1.20 | 1.73 | 43.5 % |
Total shareholders’ equity, no minority interest, stood at SAR 36.90 million by the end of 2023, compared to SAR 19.77 million a year earlier.
|
Historical Data |
|||
|
Period |
Revenues (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2021 |
20.05 |
1.97 |
1.85 |
|
H2 2021 |
21.24 |
2.48 |
2.34 |
|
H1 2022 |
19.96 |
3.18 |
2.99 |
|
H2 2022 |
18.11 |
1.28 |
1.21 |
|
H1 2023 |
17.07 |
(0.08) |
(0.64) |
|
H2 2023 |
17.07 |
2.29 |
1.83 |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2023 | 17.07 | (14.5 %) | 1.92 | (65.7 %) | (1.44) | (156.1 %) |
| H2 2023 | 17.07 | (5.7 %) | 1.77 | (35.0 %) | (1.56) | (1013.6 %) |
| 2023 | 34.14 | (10.3 %) | 3.69 | (55.6 %) | (3.01) | (209.6 %) |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2023 | (0.80) | (125.1 %) | (0.60) | - | (0.80) | (0.60) |
| H2 2023 | 2.29 | 79.3 % | 1.73 | 3.75 | (1.46) | (1.10) |
| 2023 | 1.49 | (66.5 %) | 1.13 | 3.75 | (2.26) | (1.70) |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2023 | 13.21 % | 5.48 % | 1.36 % |
| H2 2023 | 10.81 % | 3.59 % | (6.61 %) |
| 2023 | 10.81 % | 3.59 % | (6.61 %) |
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2023 | 1.33 | 0.36 | 0.36 | 26.10 |
| H2 2023 | 1.33 | 1.13 | (1.70) | 27.62 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2023 | More than 100 | More than 100 | 3.44 |
| H2 2023 | 63.96 | NEG | 2.61 |
Business Segments (Million)
2023
| Period | Ready- mix concrete segment | Blocks segment | Interlocks segment | Other | 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 |
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}