Marble Design profit slips 3% to SAR 21.9M in 2023
29/02/2024
Argaam Exclusive
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Marble Design Co.’s net earnings slipped 3% to SAR 21.9 million in 2023 from SAR 22.6 million in the previous year due to 7.22% lower sales year-on-year (YoY).
Financials (M)
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 55.17 | 51.18 | (7.2 %) |
| Gross Income | 36.72 | 32.45 | (11.6 %) |
| Operating Income | 24.50 | 22.50 | (8.2 %) |
| Net Income | 22.62 | 21.91 | (3.1 %) |
| Average Shares | 6.00 | 6.00 | - |
| EPS (Riyals) | 3.77 | 3.65 | (3.1 %) |
This was offset by an increase in other revenues by SAR 1.01 million.
Compared With The
Current Half Annual Comparison (M)
| Item | H2 2022 | H2 2023 | Change |
|---|---|---|---|
| Revenues | 29.90 | 24.39 | (18.4 %) |
| Gross Income | 20.42 | 14.78 | (27.6 %) |
| Operating Income | 13.93 | 12.37 | (11.2 %) |
| Net Income | 12.82 | 11.27 | (12.1 %) |
| Average Shares | 6.00 | 6.00 | - |
| EPS (Riyals) | 2.14 | 1.88 | (12.1 %) |
Shareholders’ equity, no minority interest, stood at SAR 99.11 million as of Dec. 31, 2023, versus SAR 87.07 million in 2022.
|
Historical Data |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2022 |
25.27 |
9.80 |
1.63 |
|
H2 2022 |
29.90 |
12.82 |
2.14 |
|
H1 2023 |
26.79 |
10.64 |
1.77 |
|
H2 2023 |
24.39 |
11.27 |
1.88 |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2023 | 26.79 | 6.0 % | 17.67 | 8.4 % | 10.12 | (4.2 %) |
| H2 2023 | 24.39 | (18.4 %) | 14.78 | (27.6 %) | 12.37 | (11.2 %) |
| 2023 | 51.18 | (7.2 %) | 32.45 | (11.6 %) | 22.50 | (8.2 %) |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2023 | 10.64 | 8.5 % | 1.77 | - | 10.64 | 1.77 |
| H2 2023 | 11.27 | (12.1 %) | 1.88 | - | 11.27 | 1.88 |
| 2023 | 21.91 | (3.1 %) | 3.65 | - | 21.91 | 3.65 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2023 | 67.18 % | 48.94 % | 41.38 % |
| H2 2023 | 63.39 % | 51.33 % | 42.81 % |
| 2023 | 63.39 % | 51.33 % | 42.81 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2023 | 6.00 | 3.91 | 3.91 | 16.28 |
| H2 2023 | 6.00 | 3.65 | 3.65 | 16.52 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2023 | - | - | - |
| H2 2023 | 22.45 | 22.45 | 4.96 |
| Current | |
| Market Cap (M Riyal) | 450.00 |
| Enterprise Value (EV) (M) | 434.59 |
| Shares Outstanding ((M)) | 6.00 |
| Book Value (BV) ( Riyal) | 16.52 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 20.54 |
| Price/book | 4.54 |
Share Price
Marble Design Co. (MARBLE DESIGN)
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