Clean Life H1 2024 net profit rises 29% to SAR 6.9M

Clean Life H1 2024 net profit rises 29% to SAR 6.9M

23/07/2024 Argaam Exclusive

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Clean Life Co. posted a SAR 6.9 million net profit for H1 2024, a rise of 29% year-on-year from SAR 5.3 million.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 23.32 30.11 29.1 %
Gross Income 16.80 21.90 30.3 %
Operating Income 5.35 6.46 20.9 %
Net Income 5.33 6.85 28.7 %
Average Shares 1.50 1.50 -
EPS (Riyals) 3.55 4.57 28.7 %

The company achieved revenue of SAR 30.11 million in H1 2024, compared with SAR 23.32 million in the same period last year, while maintaining the net profit margin.

 

Sales capacity increased as the number of service delivery units grew, as did the operating efficiency of each.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 23.32 30.11 29.1 %
Gross Income 16.80 21.90 30.3 %
Operating Income 5.35 6.46 20.9 %
Net Income 5.33 6.85 28.7 %
Average Shares 1.50 1.50 -
EPS (Riyals) 3.55 4.57 28.7 %

Shareholders' equity (no minority interest) amounted to SAR 24.40 million at the end of H1 2024, compared to SAR 16.85 million in the year-ago period.

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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 15.25 - 11.56 - 4.35 -
H2 2022 17.96 - 12.53 - 3.99 -
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 %)
H1 2024 30.11 29.1 % 21.90 30.3 % 6.46 20.9 %


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 4.08 - 2.72 - 4.08 2.72
H2 2022 4.19 - 2.79 - 4.19 2.79
H1 2023 5.33 30.5 % 3.55 - 5.33 3.55
H2 2023 3.88 (7.4 %) 2.59 - 3.88 2.59
H1 2024 6.85 28.7 % 4.57 - 6.85 4.57

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 72.54 % 30.55 % 24.91 %
H1 2023 71.06 % 29.25 % 23.05 %
H2 2023 72.40 % 25.06 % 18.66 %
H1 2024 72.71 % 25.20 % 19.13 %


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 1.50 - - 9.83
H2 2022 1.50 5.51 5.51 12.56
H1 2023 1.50 6.34 6.34 11.11
H2 2023 1.50 6.14 6.14 13.70
H1 2024 1.50 7.15 7.15 16.27

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 - - -
H2 2023 15.48 15.48 6.93
H1 2024 13.00 13.00 5.72

Business Segments (Million)

Compared With The
Period Move-in cleaning Furniture and upholstery cleaning


Financial Ratios
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
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Share Price

Clean Life Co.
110.00
1.00 0.92 %

Clean Life Co. (CLEAN LIFE)

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