Paper Home profit jumps 22% to SAR 17.7M in 2023
27/03/2024
Argaam Exclusive
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Paper Home Co. reported a 22% leap in its 2023 net profit to SAR 17.7 million, from SAR 14.5 million in 2022.
Financials (M)
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 98.15 | 97.40 | (0.8 %) |
| Gross Income | 19.96 | 28.25 | 41.5 % |
| Operating Income | 11.37 | 16.90 | 48.6 % |
| Net Income | 14.49 | 17.73 | 22.4 % |
| Average Shares | 1.50 | 1.50 | - |
| EPS (Riyals) | 9.66 | 11.82 | 22.4 % |
The annual profit growth was driven by the lower cost of raw materials despite the pullback in sales on a decline in selling prices.
Compared With The
Current Half Annual Comparison (M)
| Item | H2 2022 | H2 2023 | Change |
|---|---|---|---|
| Revenues | 50.20 | 46.70 | (7.0 %) |
| Gross Income | 10.00 | 14.64 | 46.3 % |
| Operating Income | 5.60 | 7.96 | 42.3 % |
| Net Income | 8.20 | 9.23 | 12.5 % |
| Average Shares | 1.50 | 1.50 | - |
| EPS (Riyals) | 5.47 | 6.15 | 12.5 % |
Shareholders' equity, no minority interest, rose to SAR 65.45 million at the end of 2023, from SAR 47.97 million in 2022.
|
Historical Data |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2022 |
47.96 |
6.29 |
4.19 |
|
H2 2022 |
50.19 |
8.20 |
5.47 |
|
H1 2023 |
50.70 |
8.50 |
5.67 |
|
H2 2023 |
46.70 |
9.23 |
6.15 |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2023 | 50.70 | 5.7 % | 13.61 | 36.8 % | 8.94 | 54.8 % |
| H2 2023 | 46.70 | (7.0 %) | 14.64 | 46.3 % | 7.96 | 42.3 % |
| 2023 | 97.40 | (0.8 %) | 28.25 | 41.5 % | 16.90 | 48.6 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2023 | 8.50 | 35.2 % | 5.67 | - | 8.50 | 5.67 |
| H2 2023 | 9.23 | 12.5 % | 6.15 | 1.33 | 7.90 | 5.26 |
| 2023 | 17.73 | 22.4 % | 11.82 | 1.33 | 16.40 | 10.93 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2023 | 23.41 % | 17.01 % | 12.85 % |
| H2 2023 | 29.00 % | 20.16 % | 16.84 % |
| 2023 | 29.00 % | 20.16 % | 16.84 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2023 | 1.50 | 11.13 | 8.64 | 37.65 |
| H2 2023 | 1.50 | 11.82 | 10.93 | 43.64 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2023 | - | - | - |
| H2 2023 | 15.89 | 17.18 | 4.30 |
Business Segments (Million)
2023
| Period | cardboard | paper scraps | Sales returns | Discounts |
|---|
| Current | |
| Market Cap (M Riyal) | 325.50 |
| Enterprise Value (EV) (M) | 325.00 |
| Shares Outstanding ((M)) | 1.50 |
| Book Value (BV) ( Riyal) | 43.64 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 19.85 |
| Price/book | 4.97 |
Share Price
Paper Home Co. (PAPER HOME)
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