Mulkia Investment’s net profit grows 28% to SAR 20.8M in 2023
10/03/2024
Argaam Exclusive
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Mulkia Investment Co. reported a net profit of SAR 20.8 million in 2023, an increase of 28% from SAR 16.3 million a year earlier.
Financials (M)
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 36.84 | 43.83 | 19.0 % |
| Gross Income | 24.77 | 26.77 | 8.1 % |
| Operating Income | 21.71 | 23.00 | 6.0 % |
| Net Income | 16.32 | 20.82 | 27.5 % |
| Average Shares | 6.50 | 6.50 | - |
| EPS (Riyals) | 2.51 | 3.20 | 27.5 % |
Compared With The
Current Half Annual Comparison (M)
| Item | H2 2022 | H2 2023 | Change |
|---|---|---|---|
| Revenues | 18.41 | 20.24 | 9.9 % |
| Gross Income | 11.80 | 10.38 | (12.1 %) |
| Operating Income | 11.23 | 8.36 | (25.5 %) |
| Net Income | 6.70 | 7.31 | 9.2 % |
| Average Shares | 6.50 | 6.50 | - |
| EPS (Riyals) | 1.03 | 1.13 | 9.2 % |
This was propelled by higher operating revenue, which grew to SAR 43.8 million in 2023 from SAR 36.8 million in 2022, and a drop of SAR 3 million in provisions.
Meanwhile, operating expenses rose by SAR 5.8 million.
Shareholders’ equity, no minority interest, stood at SAR 89.29 million by Dec. 31, 2023, compared to SAR 67.34 million a year earlier.
|
Historical Data |
|||
|
Period |
Revenues (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2022 |
18.42 |
9.62 |
1.48 |
|
H2 2022 |
18.42 |
6.70 |
1.03 |
|
H1 2023 |
23.59 |
13.50 |
2.08 |
|
H2 2023 |
20.24 |
7.32 |
1.12 |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2023 | 23.59 | 28.0 % | 16.39 | 26.5 % | 14.64 | 39.6 % |
| H2 2023 | 20.24 | 9.9 % | 10.38 | (12.1 %) | 8.36 | (25.5 %) |
| 2023 | 43.83 | 19.0 % | 26.77 | 8.1 % | 23.00 | 6.0 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2023 | 13.50 | 40.3 % | 2.08 | - | 13.50 | 2.08 |
| H2 2023 | 7.31 | 9.2 % | 1.13 | - | 7.31 | 1.13 |
| 2023 | 20.82 | 27.5 % | 3.20 | - | 20.82 | 3.20 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2023 | 67.13 % | 64.31 % | 48.09 % |
| H2 2023 | 61.08 % | 55.09 % | 47.50 % |
| 2023 | 61.08 % | 55.09 % | 47.50 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2023 | 6.50 | 3.11 | 3.11 | 12.52 |
| H2 2023 | 6.50 | 3.20 | 3.20 | 13.74 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2023 | - | - | - |
| H2 2023 | 9.73 | 9.73 | 2.27 |
Business Segments (Million)
Q2 2023
| Period | Asset management | Investment | Others |
|---|---|---|---|
| Q2 2023 | 19.29 | 1.15 | 3.15 |
| Current | |
| Market Cap (M Riyal) | 243.75 |
| Enterprise Value (EV) (M) | 191.31 |
| Shares Outstanding ((M)) | 6.50 |
| Book Value (BV) ( Riyal) | 13.74 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 11.71 |
| Price/book | 2.73 |
Share Price
Mulkia Investment Co. (MULKIA)
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