Dar Almarkabah profit rises 11% to SAR 3.3 mln in H1 2023

Dar Almarkabah profit rises 11% to SAR 3.3 mln in H1 2023

26/09/2023 Argaam Exclusive

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Dar Almarkabah for Renting Cars Co. reported a net profit of SAR 3.3 million in H1 2023, an increase of 11% from SAR 3 million in the year-earlier period. 



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 29.65 30.59 3.2 %
Gross Income 8.79 9.83 11.8 %
Operating Income 4.51 5.60 24.1 %
Net Income 2.95 3.28 11.2 %
Average Shares 2.00 2.00 -
EPS (Riyals) 1.48 1.64 11.2 %

The profit was driven by increased sales volumes on higher contracts with government and private agencies, in addition to cost-cutting measures. 

 

The company also cited improved profit margin, reduced operating expenses and product diversification strategy. 



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 29.65 30.59 3.2 %
Gross Income 8.79 9.83 11.8 %
Operating Income 4.51 5.60 24.1 %
Net Income 2.95 3.28 11.2 %
Average Shares 2.00 2.00 -
EPS (Riyals) 1.48 1.64 11.2 %

Shareholders’ equity, no minority interest, reached SAR 24.33 million by the end of H1 2023, compared to SAR 32.76 million a year earlier. 

 

Interim Statements (SAR mln)

Period

Revenue (SAR mln)

Net Profit (SAR mln)

EPS (SAR/Share)

H1 2022

29.65

2.95

1.48

H2 2022

30.39

1.51

0.75

H1 2023

30.59

3.28

1.64

 

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 29.65 - 8.79 - 4.51 -
H2 2022 30.39 - 4.99 - 0.93 -
H1 2023 30.59 3.2 % 9.83 11.8 % 5.60 24.1 %


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 2.95 - 1.48 - 2.95 1.48
H2 2022 1.69 - 0.85 1.05 0.64 0.32
H1 2023 3.28 11.2 % 1.64 - 3.28 1.64

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 22.95 % 17.61 % 5.98 %
H1 2023 24.30 % 22.75 % 6.43 %


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 2.00 - - 15.73
H2 2022 2.00 2.32 1.79 16.38
H1 2023 2.00 2.49 1.96 12.17

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 sector Enterprises and government entities
Q2 2022 21.24 8.41
Q4 2022 20.88 9.51
Q2 2023 21.18 9.40


Financial Ratios
Current
Market Cap (M Riyal) 131.00
Enterprise Value (EV) (M) 131.45
Shares Outstanding ((M)) 2.50
Book Value (BV) ( Riyal) 16.21
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
Price/book 3.23
more

Share Price

Dar Almarkabah for Renting Cars Co.
52.40
2.40 4.80 %

Dar Almarkabah for Renting Cars Co. (DAR ALMARKABAH)

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