Al Razi profit falls 98% to SAR 10,100 in H1 2024

Al Razi profit falls 98% to SAR 10,100 in H1 2024

06/08/2024 Argaam Exclusive

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Al Razi Medical Co. reported a 98% drop in H1 2024 net profit to SAR 10,100 from SAR 606,000 in the year-earlier period.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 30.54 31.20 2.2 %
Gross Income 9.15 8.19 (10.5 %)
Operating Income 1.00 0.23 (77.2 %)
Net Income 0.61 0.01 (98.3 %)
Average Shares 1.52 1.52 -
EPS (Riyals) 0.40 0.01 (98.3 %)

The decline in profits was attributed to discounts and promotions driven by intense sector competition, as well as increased costs, and selling, distribution, and administrative expenses due to new branches that have not yet reached the break-even point.

 

However, this was offset by a 2.16% increae in revenue for the first half of 2024 compared to the same period in 2023, primarily driven by the expansion of the branch network.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 30.54 31.20 2.2 %
Gross Income 9.15 8.19 (10.5 %)
Operating Income 1.00 0.23 (77.2 %)
Net Income 0.61 0.01 (98.3 %)
Average Shares 1.52 1.52 -
EPS (Riyals) 0.40 0.01 (98.3 %)

Total shareholders’ equity, no minority interest, stood at SAR 22.37 million as of June 30, 2024, from SAR 22.36 million a year earlier.

 

Interim Data History

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2022

24.07

0.58

0.38

H2 2022

28.32

1.43

0.94

H1 2023

30.54

0.61

0.40

H2 2023

30.79

0.08

0.05

H1 2024

31.20

0.01

0.01

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 - - - - - -
H2 2021 - - - - - -
H1 2022 24.07 - 7.10 - 0.77 -
H2 2022 28.32 - 9.01 - 1.82 -
H1 2023 30.54 26.9 % 9.15 29.0 % 1.00 29.6 %
H2 2023 30.79 8.7 % 8.43 (6.3 %) 0.42 (77.2 %)
H1 2024 31.20 2.2 % 8.19 (10.5 %) 0.23 (77.2 %)


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 - - - - - -
H2 2021 - - - - - -
H1 2022 0.58 - 0.38 - 0.58 0.38
H2 2022 1.43 - 0.94 - 1.43 0.94
H1 2023 0.61 4.6 % 0.40 - 0.61 0.40
H2 2023 0.08 (94.5 %) 0.05 - 0.08 0.05
H1 2024 0.01 (98.3 %) 0.01 - 0.01 0.01

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 - - -
H1 2022 - - -
H2 2022 30.73 % 10.07 % 3.84 %
H1 2023 30.84 % 10.49 % 3.47 %
H2 2023 28.67 % 8.32 % 1.12 %
H1 2024 26.81 % 7.19 % 0.14 %


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 - - - -
H2 2021 - - - -
H1 2022 1.52 - - 15.01
H2 2022 1.52 1.33 1.33 15.52
H1 2023 1.52 1.34 1.34 15.16
H2 2023 1.52 0.45 0.45 14.72
H1 2024 1.52 0.06 0.06 14.72

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 27.11 27.11 2.40
H2 2023 More than 100 More than 100 4.06
H1 2024 More than 100 More than 100 3.40

Business Segments (Million)

Compared With The
Period Medicines Cosmetics Baby preparations Medical equipment Medical preparations Other
Q2 2022 9.94 5.22 2.75 2.22 1.97 1.98
Q4 2022 12.52 5.80 3.66 1.98 1.94 2.41
Q2 2023 15.61 3.92 6.87 2.14 2.00 -
Q4 2023 14.70 5.42 1.33 2.21 1.96 5.17
Q2 2024 15.94 4.65 6.89 2.08 1.65 -


Financial Ratios
Current
Market Cap (M Riyal) 82.84
Enterprise Value (EV) (M) 84.85
Shares Outstanding ((M)) 1.52
Book Value (BV) ( Riyal) 14.72
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
Price/book 3.70
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Share Price

Al-Razi Medical Co.
54.50
(0.50) (0.91 %)

Al-Razi Medical Co. (ALRAZI)

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