Al Rashid Industrial net profit up 35% to SAR 10.6 mln in H1 2023

Al Rashid Industrial net profit up 35% to SAR 10.6 mln in H1 2023

13/09/2023 Argaam Exclusive

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Al Rashid Industrial Co. posted a net profit of SAR 10.6 million in H1 2023, a 35% increase from SAR 7.4 million a year earlier.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 55.68 67.16 20.6 %
Gross Income 16.27 21.28 30.8 %
Operating Income 7.39 11.19 51.4 %
Net Income 7.83 10.55 34.7 %
Average Shares 8.00 8.00 -
EPS (Riyals) 0.98 1.32 34.7 %

The profit increase is driven by a rise of 30.79% in gross profit due to higher revenues through sales of various production lines as well as items and products added during the period with an increase in the coverage of local markets.

 

This is in addition to lower raw material prices compared to the same period last year.



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 55.68 67.16 20.6 %
Gross Income 16.27 21.28 30.8 %
Operating Income 7.39 11.19 51.4 %
Net Income 7.83 10.55 34.7 %
Average Shares 8.00 8.00 -
EPS (Riyals) 0.98 1.32 34.7 %

Shareholders’ equity, no minority interest, stood at SAR 111.59 million as of June 30, 2023, compared to SAR 98.59 million a year earlier.

 

Semi-Annual Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR/share)

H1 2022

55.68

7.83

0.98

H2 2022

61.01

8.72

1.09

H1 2023

67.16

10.55

1.32

 

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 55.68 - 16.27 - 7.39 -
H2 2022 60.82 - 19.32 - 10.31 -
H1 2023 67.16 20.6 % 21.28 30.8 % 11.19 51.4 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO 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 - - - - - -
H2 2021 - - - - - -
H1 2022 7.83 - 0.98 - 7.83 0.98
H2 2022 8.72 - 1.09 - 8.72 1.09
H1 2023 10.55 34.7 % 1.32 - 10.55 1.32

Profitability

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 - - -
H2 2021 - - -
H1 2022 - - -
H2 2022 30.54 % 23.29 % 14.20 %
H1 2023 31.72 % 24.43 % 15.05 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) 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 - - - -
H2 2021 - - - -
H1 2022 8.00 - - 12.32
H2 2022 8.00 2.07 2.07 13.29
H1 2023 8.00 2.41 2.41 13.95

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 - - -

Business Segments (Million)

Compared With The
Period Private Related party Government


Financial Ratios
Current
Market Cap (M Riyal) 358.40
Enterprise Value (EV) (M) 330.00
Shares Outstanding ((M)) 8.00
Book Value (BV) ( Riyal) 15.14
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 16.81
Price/book 2.96
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Share Price

Al Rashid Industrial Co.
44.80
0.90 2.05 %

Al Rashid Industrial Co. (ALRASHID INDUSTRIAL)

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