Clean Life profits increase 11% to SAR 9.2M in 2023
05/03/2024
Argaam Exclusive
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Clean Life Co. reported a net profit of SAR 9.2 million in 2023, a 11% increase from SAR 8.3 million in 2022.
Financials (M)
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 33.21 | 49.31 | 48.5 % |
| Gross Income | 24.09 | 35.70 | 48.2 % |
| Operating Income | 8.34 | 9.07 | 8.7 % |
| Net Income | 8.27 | 9.20 | 11.3 % |
| Average Shares | 1.50 | 1.50 | - |
| EPS (Riyals) | 5.51 | 6.14 | 11.3 % |
The company noted an increase in operating efficiency through automating reservation and operational follow-up procedures. This led to a rise in sales capacity of the operating teams, in addition to increasing the number of operating and sales teams.
Revenues rose to SAR 49.3 million in 2023 compared to SAR 33.2 in 2022.
Compared With The
Current Half Annual Comparison (M)
| Item | H2 2022 | H2 2023 | Change |
|---|---|---|---|
| Revenues | 17.96 | 25.99 | 44.7 % |
| Gross Income | 12.53 | 18.90 | 50.8 % |
| Operating Income | 3.99 | 3.72 | (6.8 %) |
| Net Income | 4.19 | 3.88 | (7.4 %) |
| Average Shares | 1.50 | 1.50 | - |
| EPS (Riyals) | 2.79 | 2.59 | (7.4 %) |
Total shareholders’ equity, no minority interest, stood at SAR 20.55 million as of Dec. 31, 2023, compared to SAR 18.83 million a year earlier.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2023 | 23.32 | 53.0 % | 16.80 | 45.4 % | 5.35 | 22.9 % |
| H2 2023 | 25.99 | 44.7 % | 18.90 | 50.8 % | 3.72 | (6.8 %) |
| 2023 | 49.31 | 48.5 % | 35.70 | 48.2 % | 9.07 | 8.7 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2023 | 5.33 | 30.5 % | 3.55 | - | 5.33 | 3.55 |
| H2 2023 | 3.88 | (7.4 %) | 2.59 | - | 3.88 | 2.59 |
| 2023 | 9.20 | 11.3 % | 6.14 | - | 9.20 | 6.14 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2023 | 71.06 % | 29.25 % | 23.05 % |
| H2 2023 | 72.40 % | 25.06 % | 18.66 % |
| 2023 | 72.40 % | 25.05 % | 18.67 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2023 | 1.50 | 6.34 | 6.34 | 11.11 |
| H2 2023 | 1.50 | 6.14 | 6.14 | 13.70 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2023 | - | - | - |
| H2 2023 | 15.48 | 15.48 | 6.93 |
Business Segments (Million)
2023
| Period | Move-in cleaning | Furniture and upholstery cleaning |
|---|
| Current | |
| Market Cap (M Riyal) | 165.00 |
| Enterprise Value (EV) (M) | 156.06 |
| Shares Outstanding ((M)) | 1.50 |
| Book Value (BV) ( Riyal) | 13.70 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 17.93 |
| Price/book | 8.03 |
Share Price
Clean Life Co. (CLEAN LIFE)
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