TAM net profit rises to SAR 11.4M in H1 2024

TAM net profit rises to SAR 11.4M in H1 2024

01/09/2024 Argaam Exclusive

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TAM Development Co.’s s net profit rose to SAR 11.4 million in H1 2024, compared to SAR 4.8 million a year earlier.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 62.81 120.70 92.2 %
Gross Income 24.43 37.75 54.5 %
Operating Income 6.69 12.32 84.3 %
Net Income 4.76 11.43 139.9 %
Average Shares 3.66 3.66 -
EPS (Riyals) 1.30 3.12 139.9 %

The company's growth was driven by increased revenues and sales.

 

Gross profit rose 54.5% to SAR 37.74 million, from SAR 24.43 million a year earlier.

 

Operating profit also increased by 85.8% to SAR 12.4 million in H1 2024, compared to SAR 6.6 million in the same period of 2023.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 62.81 120.70 92.2 %
Gross Income 24.43 37.75 54.5 %
Operating Income 6.69 12.32 84.3 %
Net Income 4.76 11.43 139.9 %
Average Shares 3.66 3.66 -
EPS (Riyals) 1.30 3.12 139.9 %

Total shareholders’ equity, no minority interest, stood at SAR 117.71 million by June 30, 2024, compared to SAR 76.89 million a year ago.

 

Historical Data

Period

Revenue (SAR mln)

Net profit (SAR mln)

EPS (SAR /share)

H1 2021

25.10

2.81

0.77

H2 2021

64.75

13.71

3.75

H1 2022

38.26

2.37

0.65

H2 2022

108.81

25.56

6.98

H1 2023

62.81

24.43

6.68

H2 2023

125.59

16.17

4.41

H1 2024

120.70

37.75

10.31

 

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 25.10 - 9.05 - 3.31 -
H2 2021 64.75 - 26.38 - 14.48 -
H1 2022 38.26 52.4 % 12.43 37.3 % 3.31 (0.1 %)
H2 2022 108.82 68.1 % 42.40 60.7 % 26.75 84.7 %
H1 2023 62.81 64.2 % 24.43 96.6 % 6.69 102.3 %
H2 2023 125.59 15.4 % 65.33 54.1 % 36.62 36.9 %
H1 2024 120.70 92.2 % 37.75 54.5 % 12.32 84.3 %


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 2.81 - 0.77 - 2.81 0.77
H2 2021 13.70 - 3.74 - 13.70 3.74
H1 2022 2.37 (15.6 %) 0.65 - 2.37 0.65
H2 2022 25.56 86.5 % 6.98 - 25.56 6.98
H1 2023 4.76 100.8 % 1.30 - 4.76 1.30
H2 2023 35.84 40.2 % 9.79 - 35.84 9.79
H1 2024 11.43 139.9 % 3.12 - 11.43 3.12

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 39.44 % 22.11 % 18.38 %
H1 2022 37.68 % 19.51 % 15.61 %
H2 2022 37.28 % 22.25 % 18.99 %
H1 2023 38.94 % 21.33 % 17.67 %
H2 2023 47.64 % 25.27 % 21.55 %
H1 2024 41.85 % 22.46 % 19.19 %


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 3.66 - - 8.55
H2 2021 3.66 4.51 4.51 12.25
H1 2022 3.66 4.39 4.39 12.64
H2 2022 3.66 7.63 7.63 19.57
H1 2023 3.66 8.28 8.28 21.01
H2 2023 3.66 11.09 11.09 29.99
H1 2024 3.66 12.91 12.91 32.16

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 - - -
H1 2023 15.66 15.66 6.18
H2 2023 10.63 10.63 4.37
H1 2024 15.48 15.48 6.22

Business Segments (Million)

Compared With The
Period Advisory and project management services Technical solutions
Q2 2021 19.60 5.50
Q4 2021 52.39 12.35
Q2 2022 33.05 5.21
Q4 2022 93.40 15.41
Q2 2023 55.92 6.89
Q4 2023 109.38 16.21
Q2 2024 104.44 16.26


Financial Ratios
Current
Market Cap (M Riyal) 721.55
Enterprise Value (EV) (M) 669.19
Shares Outstanding ((M)) 3.66
Book Value (BV) ( Riyal) 29.99
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 17.77
Price/book 6.57
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Share Price

Tam Development Co.
197.20
1.20 0.61 %

Tam Development Co. (TAM DEVELOPMENT)

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