Riyadh Steel profit up to SAR 11.1M in 2023
28/03/2024
Argaam Exclusive
View other reports
Riyadh Steel Co. reported a rise in 2023 net profit to SAR 11.1 million, compared to SAR 5.1 million a year earlier.
Financials (M)
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 156.10 | 134.20 | (14.0 %) |
| Gross Income | 16.31 | 22.06 | 35.2 % |
| Operating Income | 6.48 | 11.15 | 72.2 % |
| Net Income | 5.09 | 11.14 | 118.8 % |
| Average Shares | 70.00 | 70.00 | - |
| EPS (Riyals) | 0.07 | 0.16 | 118.8 % |
The profit increase was driven by the lower cost of revenue and higher other income compared to the previous year.
This came despite the decline in revenue attributable to a reduction in market prices for finished goods and a decline in sales volumes.
Compared With The
Current Half Annual Comparison (M)
| Item | H2 2022 | H2 2023 | Change |
|---|
Shareholders’ equity, no minority interest, grew to SAR 74.9 million as of Dec. 31, 2023, from SAR 64.3 million in 2022.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2023 | 55.92 | - | 8.86 | - | 3.64 | - |
| H2 2023 | 78.28 | - | 13.20 | - | 7.52 | - |
| 2023 | 134.20 | (14.0 %) | 22.06 | 35.2 % | 11.15 | 72.2 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2023 | 2.52 | - | 0.04 | - | 2.52 | 0.04 |
| H2 2023 | 8.62 | - | 0.12 | - | 8.62 | 0.12 |
| 2023 | 11.14 | 118.8 % | 0.16 | - | 11.14 | 0.16 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2023 | - | - | - |
| H2 2023 | 16.44 % | 10.46 % | 8.30 % |
| 2023 | 16.44 % | 10.46 % | 8.30 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2023 | 70.00 | - | - | 0.96 |
| H2 2023 | 70.00 | 0.16 | 0.16 | 1.07 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2023 | - | - | - |
| H2 2023 | 10.56 | 10.56 | 1.57 |
Business Segments (Million)
Q4 2023
| Period | Sales of angle bars & flat bars | Sales of steel scrap & raw materials | Sales returns and allowable discount |
|---|---|---|---|
| Q2 2023 | 55.80 | 0.12 | - |
| Q4 2023 | 76.73 | 1.67 | (0.13) |
| Current | |
| Market Cap (M Riyal) | 136.50 |
| Enterprise Value (EV) (M) | 141.91 |
| Shares Outstanding ((M)) | 70.00 |
| Book Value (BV) ( Riyal) | 1.07 |
| Par Value ( Riyal) | 1.00 |
| Adjusted P/E (Last12) | 12.25 |
| Price/book | 1.82 |
Share Price
Riyadh Steel Co. (RIYADH STEEL)
Follow us on
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}