WAJA’s net profit rises to SAR 22.9M in 2023

31/03/2024 Argaam Exclusive

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WAJA Co. reported a net profit of SAR 22.9 million for 2023, a 25% growth compared to SAR 18.3 million a year earlier, backed by an increase in revenue by 35.77%, or SAR 35.47 million, on an increase in contracts and projects.

Financials (M)

Item	2022	2023	Change‬
Revenues	99.18	134.65	35.8 %
Gross Income	26.02	34.44	32.3 %
Operating Income	20.26	26.82	32.4 %
Net Income	18.26	22.86	25.2 %
Average Shares	70.00	70.00	-
EPS (Halala)	26.09	32.66	25.2 %

Current Half Annual Comparison (M)

Compared With The

Item	H2 2022	H2 2023	Change‬
Revenues	55.21	93.64	69.6 %
Gross Income	14.18	24.89	75.5 %
Operating Income	11.15	20.34	82.3 %
Net Income	9.97	17.51	75.7 %
Average Shares	70.00	70.00	-
EPS (Halala)	14.24	25.01	75.7 %

Item	H1 2023	H2 2023	Change‬
Revenues	41.01	93.64	128.4 %
Gross Income	9.54	24.89	160.9 %
Operating Income	6.49	20.34	213.6 %
Net Income	5.36	17.51	226.8 %
Average Shares	70.00	70.00	-
EPS (Halala)	7.65	25.01	226.8 %

Total shareholders’ equity, no minority interest, stood at SAR 95.24 million by Dec. 31, 2023, compared to SAR 72.29 million a year ago.

Historical Data
Period	Revenue (SAR mln)	Net profit (SAR mln)	EPS (SAR /share)
H1 2021	36.49	11.80	16.85
H2 2021	42.54	5.56	7.95
H1 2022	43.97	8.30	11.85
H2 2022	55.21	9.96	14.24
H1 2023	41.01	5.36	7.65
H2 2023	93.64	17.5	25.01

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
H1 2014	-	-	-	-	-	-
H2 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	-	-	-	-	-	-
H1 2020	-	-	-	-	-	-
H2 2020	-	-	-	-	-	-
2020	47.17	-	19.51	-	16.72	-
H1 2021	36.49	-	15.12	-	12.00	-
H2 2021	42.55	-	8.04	-	4.89	-
2021	79.03	67.6 %	23.16	18.7 %	16.90	1.0 %
H1 2022	43.97	20.5 %	11.84	(21.7 %)	9.11	(24.1 %)
H2 2022	55.21	29.8 %	14.18	76.4 %	11.15	128.1 %
2022	99.18	25.5 %	26.02	12.4 %	20.26	19.9 %
H1 2023	41.01	(6.7 %)	9.54	(19.4 %)	6.49	(28.8 %)
H2 2023	93.64	69.6 %	24.89	75.5 %	20.34	82.3 %
2023	134.65	35.8 %	34.44	32.3 %	26.82	32.4 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	-	-	-	-	-	-
2020	47.17	-	19.51	-	16.72	-
2021	79.03	67.6 %	23.16	18.7 %	16.90	1.0 %
2022	99.18	25.5 %	26.02	12.4 %	20.26	19.9 %
2023	134.65	35.8 %	34.44	32.3 %	26.82	32.4 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Halala)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
H1 2014	-	-	-	-	-	-
H2 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	-	-	-	-	-	-
H1 2020	-	-	-	-	-	-
H2 2020	-	-	-	-	-	-
2020	15.97	-	28.80	-	15.97	0.29
H1 2021	11.80	-	16.85	-	11.80	0.17
H2 2021	5.57	-	7.95	1.65	3.92	0.06
2021	17.36	8.7 %	24.80	1.65	15.71	0.22
H1 2022	8.30	(29.7 %)	11.85	-	8.30	0.12
H2 2022	9.97	79.1 %	14.24	-	9.97	0.14
2022	18.26	5.2 %	26.09	-	18.26	0.26
H1 2023	5.36	(35.4 %)	7.65	-	5.36	0.08
H2 2023	17.51	75.7 %	25.01	-	17.51	0.25
2023	22.86	25.2 %	32.66	-	22.86	0.33

Period	Net Income	Change	EPS(Halala)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	-	-	-	-	-	-
2020	15.97	-	28.80	-	15.97	0.29
2021	17.36	8.7 %	24.80	1.65	15.71	0.22
2022	18.26	5.2 %	26.09	-	18.26	0.26
2023	22.86	25.2 %	32.66	-	22.86	0.33

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
H1 2014	-	-	-
H2 2014	-	-	-
2014	-	-	-
H1 2015	-	-	-
H2 2015	-	-	-
2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
2016	-	-	-
H1 2017	-	-	-
H2 2017	-	-	-
2017	-	-	-
H1 2018	-	-	-
H2 2018	-	-	-
2018	-	-	-
H1 2019	-	-	-
H2 2019	-	-	-
2019	-	-	-
H1 2020	-	-	-
H2 2020	-	-	-
2020	41.36 %	38.84 %	33.86 %
H1 2021	-	-	-
H2 2021	29.30 %	23.27 %	19.88 %
2021	29.31 %	23.27 %	19.88 %
H1 2022	22.98 %	17.75 %	14.11 %
H2 2022	26.24 %	21.47 %	18.41 %
2022	26.24 %	21.47 %	18.41 %
H1 2023	24.66 %	19.42 %	15.92 %
H2 2023	25.57 %	20.73 %	16.98 %
2023	25.57 %	20.73 %	16.98 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	41.36 %	38.84 %	33.86 %
2021	29.31 %	23.27 %	19.88 %
2022	26.24 %	21.47 %	18.41 %
2023	25.57 %	20.73 %	16.98 %

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	41.44 %	34.68 %	32.33 %
H2 2021	18.90 %	13.49 %	9.20 %
H1 2022	26.93 %	21.88 %	18.87 %
H2 2022	25.69 %	21.14 %	18.05 %
H1 2023	23.27 %	17.11 %	13.06 %
H2 2023	26.58 %	22.31 %	18.69 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Halala)	Adjusted EPS (Halala)	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	70.00	-	-	0.67
H2 2021	70.00	24.80	22.45	0.75
H1 2022	70.00	19.80	17.44	0.90
H2 2022	70.00	26.09	26.09	1.03
H1 2023	70.00	21.89	21.89	1.11
H2 2023	70.00	32.66	32.66	1.36

Period	Shares Outstanding (M)	EPS (Halala)	Adjusted EPS (Halala)	Book Value (BV)
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	-	-	-	-
2019	-	-	-	-
2020	55.45	28.80	28.80	0.52
2021	70.00	24.80	22.45	0.75
2022	70.00	26.09	26.09	1.03
2023	70.00	32.66	32.66	1.36

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	31.16	31.16	6.15
H2 2023	18.40	18.40	4.42

Period	P/E	Adjusted P/E	Price/book
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-
2022	-	-	-
2023	18.40	18.40	4.42

Business Segments (Million)

Compared With The

Period	Contracting business sector	Operation and maintenance sector
Q2 2022	38.65	5.32
Q4 2022	51.58	3.64
Q2 2023	36.14	4.86
Q4 2023	92.97	0.67

Period	Contracting business sector	Operation and maintenance sector
2021	71.65	7.38
2022	90.23	8.95
2023	129.12	5.53

Financial Ratios

	Current
Market Cap (M Riyal)	546.00
Enterprise Value (EV) (M)	554.79
Shares Outstanding ((M))	70.00
Book Value (BV) ( Riyal)	1.36
Par Value ( Halala)	50.00
Adjusted P/E (Last12)	23.88
Price/book	5.73

Waja Co. (WAJA)

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WAJA’s net profit rises to SAR 22.9M in 2023

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Financials (M)

Current Half Annual Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2023 Q4

Financial Ratios

Share Price

Waja Co. (WAJA)

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WAJA’s net profit rises to SAR 22.9M in 2023

View other reports

Financials (M)

Current Half Annual Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q4 2023

Revenue by Business Segment (Latest) 2023 Q4

Financial Ratios

Share Price

Waja Co. (WAJA)

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Business Segments (Million)