Munawla’s profit surges 90% to SAR 3.9M in H1 2024

Munawla’s profit surges 90% to SAR 3.9M in H1 2024

01/09/2024 Argaam Exclusive

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Munawla Cargo Co.’s earnings rose 90% to SAR 3.9 million in H1 2024, compared to SAR 2.1 million in the year-earlier period.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 59.31 65.97 11.2 %
Gross Income 10.67 8.42 (21.1 %)
Operating Income 2.77 4.49 62.2 %
Net Income 2.07 3.94 89.9 %
Average Shares 2.00 2.00 -
EPS (Riyals) 1.04 1.97 89.9 %


Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 59.31 65.97 11.2 %
Gross Income 10.67 8.42 (21.1 %)
Operating Income 2.77 4.49 62.2 %
Net Income 2.07 3.94 89.9 %
Average Shares 2.00 2.00 -
EPS (Riyals) 1.04 1.97 89.9 %

The profit jump followed a year-on-year jump in revenues driven by the expansion of land and refrigerated transport activity. During the period, the company also reversed some of the allowance for expected credit losses due to changing the assumptions used in the calculation.

 

Shareholders’ equity, no minority interest, stood at SAR 39.14 million by June 30, 2024, compared to SAR 35.2 million a year ago.

 

Historical Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2021

57.29

3.33

3.33

H2 2021

74.47

4.25

4.25

H1 2022

67.50

2.14

2.14

H2 2022

71.41

7.52

7.52

H1 2023

59.31

2.07

2.07

H2 2023

58.11

2.88

2.88

H1 2024

65.97

3.94

3.94

 

View More Financial Results

 


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 57.29 - 10.76 - 3.30 -
H2 2021 74.47 - 14.37 - 4.95 -
H1 2022 67.50 17.8 % 11.55 7.4 % 1.88 (43.0 %)
H2 2022 71.41 (4.1 %) 13.22 (8.0 %) 8.22 66.0 %
H1 2023 59.31 (12.1 %) 10.67 (7.6 %) 2.77 47.5 %
H2 2023 58.11 (18.6 %) 11.74 (11.2 %) 3.37 (59.0 %)
H1 2024 65.97 11.2 % 8.42 (21.1 %) 4.49 62.2 %


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 3.33 - 1.67 - 3.33 1.67
H2 2021 4.25 - 2.12 - 4.25 2.12
H1 2022 2.14 (35.7 %) 1.07 - 2.14 1.07
H2 2022 7.52 77.0 % 3.76 - 7.52 3.76
H1 2023 2.07 (3.2 %) 1.04 - 2.07 1.04
H2 2023 2.88 (61.7 %) 1.44 - 2.88 1.44
H1 2024 3.94 89.9 % 1.97 - 3.94 1.97

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 19.07 % 8.03 % 5.75 %
H1 2022 18.26 % 6.51 % 4.50 %
H2 2022 17.83 % 9.04 % 6.95 %
H1 2023 18.27 % 10.28 % 7.34 %
H2 2023 19.09 % 7.58 % 4.22 %
H1 2024 16.25 % 8.94 % 5.49 %


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 2.00 - - 12.52
H2 2021 2.00 3.79 3.79 12.70
H1 2022 2.00 3.19 3.19 13.57
H2 2022 2.00 4.83 4.83 16.47
H1 2023 2.00 4.79 4.79 16.01
H2 2023 2.00 2.48 2.48 17.60
H1 2024 2.00 3.41 3.41 19.57

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 34.66 34.66 4.87
H1 2024 20.95 20.95 3.65

Business Segments (Million)

Compared With The
Period Sea freight Air freight Road transport Logistical business
Q2 2021 23.15 18.57 13.01 2.56
Q4 2021 37.19 20.82 14.85 1.61
Q2 2022 23.72 23.76 18.11 1.91
Q4 2022 34.12 20.11 13.68 3.49
Q2 2023 27.92 13.64 13.32 4.43
Q4 2023 21.34 21.06 14.90 0.80
Q2 2024 28.18 15.30 17.84 4.65


Financial Ratios
Current
Market Cap (M Riyal) 136.00
Enterprise Value (EV) (M) 135.64
Shares Outstanding ((M)) 2.00
Book Value (BV) ( Riyal) 17.60
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 27.47
Price/book 3.86
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Share Price

Munawla Cargo Co.
68.00
1.00 1.49 %

Munawla Cargo Co. (MUNAWLA)

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