Jamjoom Pharma profit up 71% to SAR 292.4M in 2023; Q4 at SAR 44.5M
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Jamjoom Pharmaceuticals Factory Co. (Jamjoom Pharma) posted a net profit of SAR 292.4 million in 2023, leaping 71% from SAR 171.3 million a year earlier.
Financials (M)
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 916.67 | 1,100.82 | 20.1 % |
| Gross Income | 593.92 | 703.79 | 18.5 % |
| Operating Income | 233.33 | 313.38 | 34.3 % |
| Net Income | 171.31 | 292.40 | 70.7 % |
| Average Shares | 70.00 | 70.00 | - |
| EPS (Riyals) | 2.45 | 4.18 | 70.7 % |
The profit increase was buoyed by a 20.1% year-on-year (YoY) revenue increase and a decline in finance costs by 96% YoY. Selling and distribution (S&D) expenses rose 9.7% but the growth rate remained lower than the rise in revenue.
Current Quarter Comparison (M)
| Item | Q4 2022 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 196.84 | 207.86 | 5.6 % |
| Gross Income | 125.41 | 118.86 | (5.2 %) |
| Operating Income | 38.26 | 42.24 | 10.4 % |
| Net Income | 31.76 | 44.48 | 40.1 % |
| Average Shares | 70.00 | 70.00 | - |
| EPS (Riyals) | 0.45 | 0.64 | 40.1 % |
The fourth-quarter earnings leapt 40% to SAR 44.5 million, compared to SAR 31.76 million in the year-ago period.
On a quarterly basis, the company posted a 42.4% decline in Q4 profit from SAR 77.25 million in Q3.
Shareholders’ equity, no minority interest, increased to SAR 1.40 billion as of Dec. 31, 2023, compared to SAR 1.21 billion a year earlier.
Attached Document:
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2023 | 300.85 | 23.4 % | 199.61 | 21.5 % | 93.91 | 21.3 % |
| Q2 2023 | 298.40 | 25.2 % | 198.10 | 29.4 % | 92.56 | 60.7 % |
| Q3 2023 | 292.61 | 23.1 % | 187.23 | 23.9 % | 84.67 | 41.1 % |
| Q4 2023 | 207.86 | 5.6 % | 118.86 | (5.2 %) | 42.24 | 10.4 % |
| 2023 | 1,100.82 | 20.1 % | 703.79 | 18.5 % | 313.38 | 34.3 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| Q1 2023 | 84.40 | 93.9 % | 1.21 | - | 84.40 | 1.21 |
| Q2 2023 | 86.27 | 71.1 % | 1.23 | - | 86.27 | 1.23 |
| Q3 2023 | 77.25 | 69.4 % | 1.10 | - | 77.25 | 1.10 |
| Q4 2023 | 44.48 | 40.1 % | 0.64 | - | 44.48 | 0.64 |
| 2023 | 292.40 | 70.7 % | 4.18 | - | 292.40 | 4.18 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2023 | 64.62 % | 28.21 % | 23.76 % |
| Q2 2023 | 65.22 % | 29.98 % | 25.44 % |
| Q3 2023 | 65.25 % | 30.78 % | 26.33 % |
| Q4 2023 | 64.00 % | 30.92 % | 26.59 % |
| 2023 | 63.93 % | 30.89 % | 26.56 % |
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2023 | 70.00 | 3.03 | 3.31 | 18.13 |
| Q2 2023 | 70.00 | 3.54 | 3.76 | 19.36 |
| Q3 2023 | 70.00 | 4.00 | 4.09 | 19.45 |
| Q4 2023 | 70.00 | 4.18 | 4.18 | 20.06 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2023 | - | - | - |
| Q2 2023 | 25.26 | 23.82 | 4.62 |
| Q3 2023 | 28.98 | 28.28 | 5.95 |
| Q4 2023 | 27.53 | 27.53 | 5.73 |
Business Segments (Million)
Q4 2023
| Period | Pharmaceutical products | Consumer Health Products |
|---|---|---|
| Q1 2023 | 258.50 | 42.35 |
| Q2 2023 | 256.14 | 42.26 |
| Q3 2023 | 251.49 | 41.12 |
| Q4 2023 | 189.49 | 18.36 |
Analysts Estimates (Million)
| Item | Q4 2023 (e) | Q4 2023 (a) | Change |
|---|---|---|---|
| Average | 44.67 | 44.48 | (0.4 %) |
Estimates vs Actual (Million)
| Item | Q4 2023 (e) | Q4 2023 (a) | Change |
|---|---|---|---|
| Al Rajhi Capital | 40.00 | 44.48 | 11.2 % |
| GIB Capital | 40.00 | 44.48 | 11.2 % |
| United Securities Company | 54.00 | 44.48 | (17.6) % |
| Current | |
| Market Cap (M Riyal) | 10,990.00 |
| Enterprise Value (EV) (M) | 10,868.18 |
| Shares Outstanding ((M)) | 70.00 |
| EPS ( Riyal) (TTM) | 4.99 |
| Book Value (BV) ( Riyal) | 20.64 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 31.45 |
| P/E (TTM) | 31.45 |
| Price/book | 7.61 |
| Return on Average Assets (%) (TTM) | 19.9 |
| Return on Average Equity (%) (TTM) | 24.9 |
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