Pan Gulf profit falls 69% to SAR 1.7M in H1 2024

Pan Gulf profit falls 69% to SAR 1.7M in H1 2024

13/08/2024 Argaam Exclusive

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Pan Gulf Marketing Co. reported a 69% decline in its H1 2024 net profit to SAR 1.7 million, from SAR 5.6 million in H1 2023.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 185.63 169.19 (8.9 %)
Gross Income 59.42 54.95 (7.5 %)
Operating Income 14.34 9.66 (32.7 %)
Net Income 5.65 1.74 (69.1 %)
Average Shares 7.50 7.50 -
EPS (Riyals) 0.75 0.23 (69.1 %)

The profit drop during the current period was attributed to lower sales as a result of a decrease in private sector sales and government sector demand.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 185.63 169.19 (8.9 %)
Gross Income 59.42 54.95 (7.5 %)
Operating Income 14.34 9.66 (32.7 %)
Net Income 5.65 1.74 (69.1 %)
Average Shares 7.50 7.50 -
EPS (Riyals) 0.75 0.23 (69.1 %)

Shareholders’ equity, no minority interest, rose to SAR 67.73 million as of June 30, 2024, compared to SAR 58.48 million in the year-earlier period.

 

Pan Gulf Financial Performance

Period

Revenues

(SAR mln)

Net Profit

(SAR mln)

Profit Share

(SAR/ share)

H1 2022

179.28

12.91

1.72

H2 2022

236.13

19.87

2.65

H1 2023

185.63

5.65

0.75

H2 2023

236.72

17.19

2.29

H1 2024

169.18

1.74

0.23

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 179.28 - 55.62 - 13.84 -
H2 2022 236.13 - 75.54 - 26.82 -
H1 2023 185.63 3.5 % 59.42 6.8 % 14.34 3.6 %
H2 2023 236.72 0.2 % 77.35 2.4 % 26.97 0.6 %
H1 2024 169.19 (8.9 %) 54.95 (7.5 %) 9.66 (32.7 %)


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 12.91 - 1.72 - 12.91 1.72
H2 2022 19.87 - 2.65 - 19.87 2.65
H1 2023 5.65 (56.3 %) 0.75 - 5.65 0.75
H2 2023 17.19 (13.5 %) 2.29 - 17.19 2.29
H1 2024 1.74 (69.1 %) 0.23 - 1.74 0.23

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 31.57 % 11.54 % 7.89 %
H1 2023 32.00 % 11.71 % 6.05 %
H2 2023 32.38 % 12.20 % 5.41 %
H1 2024 32.59 % 9.29 % 4.67 %


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 7.50 - - 15.43
H2 2022 7.50 4.37 4.37 7.78
H1 2023 7.50 3.40 3.40 7.80
H2 2023 7.50 3.05 3.05 10.02
H1 2024 7.50 2.52 2.52 10.23

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 - - -
H1 2024 14.26 14.26 3.52

Business Segments (Million)

Compared With The
Period Private Sector Government Sector
Q2 2022 174.43 4.85
Q4 2022 230.45 5.68
Q2 2023 173.77 11.86
Q4 2023 226.20 10.52
Q2 2024 163.70 5.49


Share Price

Pan Gulf Marketing Co.
25.50
0.00 0.00 %

Pan Gulf Marketing Co. (PAN GULF)

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