Mulkia Investment profit down 37% to SAR 8.6M in H1 2024

Mulkia Investment profit down 37% to SAR 8.6M in H1 2024

06/08/2024 Argaam Exclusive

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Mulkia Investment Co.'s net profit fell by 37% to SAR 8.6 million in H1 2024, compared to SAR 13.5 million.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 23.59 19.55 (17.1 %)
Gross Income 16.39 10.74 (34.5 %)
Operating Income 14.64 9.71 (33.6 %)
Net Income 13.50 8.57 (36.5 %)
Average Shares 6.50 6.50 -
EPS (Riyals) 2.08 1.32 (36.5 %)


Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 23.59 19.55 (17.1 %)
Gross Income 16.39 10.74 (34.5 %)
Operating Income 14.64 9.71 (33.6 %)
Net Income 13.50 8.57 (36.5 %)
Average Shares 6.50 6.50 -
EPS (Riyals) 2.08 1.32 (36.5 %)

The profit decline was driven by a SAR 3 million fall in revenues from investment services and asset management and a SAR 2.2 million slip in unrealized profit from reassessment of investments.

 

Shareholders' equity, no minority interest, reached SAR 81.65 million as of June 30, 2024, compared to SAR 81.35 million in the prior-year period.

 

Historical Development of Interim Data

Period

Revenue

(SAR mln)

Net profit

(SAR mln)

Earnings Per Share

(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

H1 2024

19.55

8.57

1.32

 

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 - - - - - -
H2 2021 - - - - - -
H1 2022 18.42 - 12.96 - 10.48 -
H2 2022 18.41 - 11.80 - 11.23 -
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 %)
H1 2024 19.55 (17.1 %) 10.74 (34.5 %) 9.71 (33.6 %)


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 - - - - - -
H2 2021 - - - - - -
H1 2022 9.62 - 1.48 - 9.62 1.48
H2 2022 6.70 - 1.03 - 6.70 1.03
H1 2023 13.50 40.3 % 2.08 - 13.50 2.08
H2 2023 7.31 9.2 % 1.13 - 7.31 1.13
H1 2024 8.57 (36.5 %) 1.32 - 8.57 1.32

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 - - -
H1 2022 - - -
H2 2022 67.23 % 61.79 % 44.31 %
H1 2023 67.13 % 64.31 % 48.09 %
H2 2023 61.08 % 55.09 % 47.50 %
H1 2024 53.06 % 48.18 % 39.92 %


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 - - - -
H2 2021 - - - -
H1 2022 6.50 - - 11.68
H2 2022 6.50 2.51 2.51 10.36
H1 2023 6.50 3.11 3.11 12.52
H2 2023 6.50 3.20 3.20 13.74
H1 2024 6.50 2.44 2.44 12.56

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 9.73 9.73 2.27
H1 2024 12.67 12.67 2.46

Business Segments (Million)

Compared With The
Period Asset management Investment Others
Q2 2022 16.49 1.93 -
Q4 2022 14.98 3.43 -
Q2 2023 19.29 1.15 3.15
Q2 2024 19.46 0.09 -


Financial Ratios
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
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Share Price

Mulkia Investment Co.
37.50
(0.50) (1.32 %)

Mulkia Investment Co. (MULKIA)

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