Lime Industries net profit down 28% to SAR 4.7 mln in H1 2023

Lime Industries net profit down 28% to SAR 4.7 mln in H1 2023

24/08/2023 Argaam Exclusive

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Saudi Lime Industries Co. posted a net profit of SAR 4.7 million in H1 2023, a 28% decline from SAR 6.5 million a year earlier.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 70.90 71.53 0.9 %
Gross Income 31.13 31.03 (0.3 %)
Operating Income 6.69 4.59 (31.5 %)
Net Income 6.52 4.67 (28.3 %)
Average Shares 20.00 22.00 10.0 %
EPS (Riyals) 0.33 0.21 (34.8 %)

The profit decline was due to the increase in diesel prices by 20% since the beginning of the year, which affected the transportation cost of raw materials and finished goods. The company’s cost of production also rose, given the industry’s dependence on fuels. 



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 70.90 71.53 0.9 %
Gross Income 31.13 31.03 (0.3 %)
Operating Income 6.69 4.59 (31.5 %)
Net Income 6.52 4.67 (28.3 %)
Average Shares 20.00 22.00 10.0 %
EPS (Riyals) 0.33 0.21 (34.8 %)

Shareholders’ equity, no minority interest, stood at SAR 271.13 million as of June 30, 2023, compared to SAR 227.67 million a year earlier.

 

                                                             Lime Industries’ Semi-Annual Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR/share)

H1 2021

65.15

6.45

0.32

H2 2021

66.44

4.81

0.24

H1 2022

70.90

6.52

0.33

H2 2022

71.48

9.31

0.47

H1 2023

71.53

4.67

0.23

 

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2014 - - - - - -
H2 2014 - - - - - -
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 65.15 - 29.90 - 8.33 -
H2 2021 66.45 - 28.82 - 1.46 -
H1 2022 70.90 8.8 % 31.13 4.1 % 6.69 (19.7 %)
H2 2022 71.48 7.6 % 32.01 11.1 % 9.01 519.1 %
H1 2023 71.53 0.9 % 31.03 (0.3 %) 4.59 (31.5 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2014 - - - - - -
H2 2014 - - - - - -
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 6.45 - 0.32 - 6.45 0.32
H2 2021 4.82 - 0.24 3.65 1.17 0.06
H1 2022 6.52 1.1 % 0.33 1.50 5.02 0.25
H2 2022 9.31 93.3 % 0.47 - 9.31 0.47
H1 2023 4.67 (28.3 %) 0.21 - 4.67 0.21

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2014 - - -
H2 2014 - - -
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 44.62 % 16.96 % 5.79 %
H1 2022 43.65 % 16.69 % 4.50 %
H2 2022 44.35 % 20.35 % 10.06 %
H1 2023 44.08 % 19.66 % 9.78 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2014 - - - -
H2 2014 - - - -
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 20.00 - - 11.34
H2 2021 20.00 0.56 0.38 11.56
H1 2022 20.00 0.57 0.31 11.38
H2 2022 20.00 0.79 0.72 11.86
H1 2023 22.00 0.64 0.64 12.32

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2014 - - -
H2 2014 - - -
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 - - -
H1 2023 20.70 20.70 1.07

Business Segments (Million)

Compared With The
Period limestone Sector Carbonate Sector Brick Sector
Q2 2021 49.52 10.17 5.46
Q4 2021 50.06 11.26 5.13
Q2 2022 53.37 10.59 6.95
Q4 2022 53.59 11.72 6.17
Q2 2023 55.61 8.74 7.18


Financial Ratios
Current
Market Cap (M Riyal) 272.80
Enterprise Value (EV) (M) 233.15
Shares Outstanding ((M)) 22.00
Book Value (BV) ( Riyal) 12.53
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 45.14
Price/book 0.99
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Share Price

Saudi Lime Industries Co.
12.40
0.10 0.81 %

Saudi Lime Industries Co. (LIME INDUSTRIES)

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