United Mining profit rises 12% to SAR 35.8M in 2023

18/03/2024 Argaam Exclusive

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United Mining Industries Co. posted a SAR 35.8 million profit for 2023, an increase of 12% from SAR 32 million in 2022, driven by a change in sales mix.

Financials (M)

Item	2022	2023	Change‬
Revenues	241.81	240.33	(0.6 %)
Gross Income	55.57	71.36	28.4 %
Operating Income	37.70	45.50	20.7 %
Net Income	32.04	35.83	11.8 %
Average Shares	14.00	14.00	-
EPS (Riyals)	2.29	2.56	11.8 %

Meanwhile, revenue edged down marginally due to a decrease in sales of some products.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2022	H2 2023	Change‬
Revenues	119.36	125.56	5.2 %
Gross Income	29.58	36.37	23.0 %
Operating Income	21.81	22.37	2.5 %
Net Income	19.24	17.99	(6.5 %)
Average Shares	14.00	14.00	-
EPS (Riyals)	1.37	1.28	(6.5 %)

Item	H1 2023	H2 2023	Change‬
Revenues	114.76	125.56	9.4 %
Gross Income	34.99	36.37	4.0 %
Operating Income	23.13	22.37	(3.3 %)
Net Income	17.84	17.99	0.8 %
Average Shares	14.00	14.00	-
EPS (Riyals)	1.27	1.28	0.8 %

Shareholders' equity, no minority interest, reached SAR 183.02 million by the end of 2023, compared to SAR 165.41 million a year earlier.

Financial Results
Period	Revenue (SAR mln)	Net Profit (SAR mln)	EPS (SAR/Share)
H1 2022	122.45	12.81	0.91
H2 2022	119.36	19.23	1.37
H1 2023	114.76	17.84	1.27
H2 2023	125.57	17.99	1.29

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
H1 2014	-	-	-	-	-	-
H2 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	-	-	-	-	-	-
H1 2020	-	-	-	-	-	-
H2 2020	-	-	-	-	-	-
2020	-	-	-	-	-	-
H1 2021	-	-	-	-	-	-
H2 2021	-	-	-	-	-	-
2021	190.78	-	43.85	-	24.72	-
H1 2022	122.45	-	26.00	-	15.88	-
H2 2022	119.36	-	29.58	-	21.81	-
2022	241.81	26.8 %	55.57	26.7 %	37.70	52.5 %
H1 2023	114.76	(6.3 %)	34.99	34.6 %	23.13	45.6 %
H2 2023	125.56	5.2 %	36.37	23.0 %	22.37	2.5 %
2023	240.33	(0.6 %)	71.36	28.4 %	45.50	20.7 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	-	-	-	-	-	-
2020	-	-	-	-	-	-
2021	190.78	-	43.85	-	24.72	-
2022	241.81	26.8 %	55.57	26.7 %	37.70	52.5 %
2023	240.33	(0.6 %)	71.36	28.4 %	45.50	20.7 %

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	-	-	-	-	-	-
2014	-	-	-	-	-	-
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	-	-	-	-	-	-
H1 2020	-	-	-	-	-	-
H2 2020	-	-	-	-	-	-
2020	-	-	-	-	-	-
H1 2021	-	-	-	-	-	-
H2 2021	-	-	-	-	-	-
2021	19.32	-	1.38	-	19.32	1.38
H1 2022	12.81	-	0.91	-	12.81	0.91
H2 2022	19.24	-	1.37	-	19.24	1.37
2022	32.04	65.9 %	2.29	-	32.04	2.29
H1 2023	17.84	39.3 %	1.27	-	17.84	1.27
H2 2023	17.99	(6.5 %)	1.28	-	17.99	1.28
2023	35.83	11.8 %	2.56	-	35.83	2.56

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	-	-	-	-	-	-
2020	-	-	-	-	-	-
2021	19.32	-	1.38	-	19.32	1.38
2022	32.04	65.9 %	2.29	-	32.04	2.29
2023	35.83	11.8 %	2.56	-	35.83	2.56

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
H1 2014	-	-	-
H2 2014	-	-	-
2014	-	-	-
H1 2015	-	-	-
H2 2015	-	-	-
2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
2016	-	-	-
H1 2017	-	-	-
H2 2017	-	-	-
2017	-	-	-
H1 2018	-	-	-
H2 2018	-	-	-
2018	-	-	-
H1 2019	-	-	-
H2 2019	-	-	-
2019	-	-	-
H1 2020	-	-	-
H2 2020	-	-	-
2020	-	-	-
H1 2021	-	-	-
H2 2021	-	-	-
2021	22.98 %	20.94 %	10.13 %
H1 2022	-	-	-
H2 2022	22.98 %	22.04 %	13.25 %
2022	22.98 %	22.04 %	13.25 %
H1 2023	27.58 %	25.99 %	15.84 %
H2 2023	29.69 %	25.56 %	14.91 %
2023	29.69 %	25.56 %	14.91 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	22.98 %	20.94 %	10.13 %
2022	22.98 %	22.04 %	13.25 %
2023	29.69 %	25.56 %	14.91 %

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	21.23 %	19.27 %	10.46 %
H2 2022	24.78 %	24.88 %	16.12 %
H1 2023	30.49 %	27.15 %	15.55 %
H2 2023	28.97 %	24.11 %	14.33 %

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	14.00	-	-	11.53
H2 2022	14.00	2.29	2.29	11.82
H1 2023	14.00	2.65	2.65	13.09
H2 2023	14.00	2.56	2.56	13.07

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	-	-	-	-
2019	-	-	-	-
2020	-	-	-	-
2021	14.00	1.38	1.38	10.62
2022	14.00	2.29	2.29	11.82
2023	14.00	2.56	2.56	13.07

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	-	-	-
H2 2023	9.77	9.77	1.91

Period	P/E	Adjusted P/E	Price/book
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-
2022	-	-	-
2023	9.77	9.77	1.91

Business Segments (Million)

Compared With The

Period	Gypsum boards	Fiber cement boards	Others
Q2 2022	58.40	34.14	29.91
Q4 2022	69.31	32.90	17.15
Q2 2023	69.05	31.94	13.77
Q4 2023	74.13	40.08	11.35

Period	Gypsum boards	Fiber cement boards	Others
2021	106.65	44.52	39.61
2022	127.71	67.04	47.06
2023	143.18	72.03	25.12

Financial Ratios

	Current
Market Cap (M Riyal)	560.00
Enterprise Value (EV) (M)	648.40
Shares Outstanding ((M))	14.00
Book Value (BV) ( Riyal)	13.07
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	15.63
Price/book	3.06

United Mining Industries Co. (UNITED MINING)

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United Mining profit rises 12% to SAR 35.8M in 2023

View other reports

Financials (M)

Current Half Annual Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2023 Q4

Financial Ratios

Share Price

United Mining Industries Co. (UNITED MINING)

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United Mining profit rises 12% to SAR 35.8M in 2023

View other reports

Financials (M)

Current Half Annual Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q4 2023

Revenue by Business Segment (Latest) 2023 Q4

Financial Ratios

Share Price

United Mining Industries Co. (UNITED MINING)

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Business Segments (Million)