Almujtama Alraida net profit plummets 40% to SAR 11.4M in 2023
27/03/2024
Argaam Exclusive
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Almujtama Alraida Medical Co. reported a net profit of SAR 11.4 million for 2023, a 40% slump from SAR 19.1 million a year earlier.
Financials (M)
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 367.08 | 407.74 | 11.1 % |
| Gross Income | 118.71 | 129.21 | 8.8 % |
| Operating Income | 24.10 | 13.95 | (42.1 %) |
| Net Income | 19.08 | 11.39 | (40.3 %) |
| Average Shares | 9.50 | 9.50 | - |
| EPS (Riyals) | 2.01 | 1.20 | (40.3 %) |
This was ascribed to the expenses pertaining to the company’s share listing on Nomu-Parallel Market, promotion offers to boost retail sales, and lower contract revenue.
Revenues increased by 11% compared with a year before due to strong sales from the company's activities and divisions.
Compared With The
Current Half Annual Comparison (M)
| Item | H2 2022 | H2 2023 | Change |
|---|---|---|---|
| Revenues | 195.27 | 203.61 | 4.3 % |
| Gross Income | 65.21 | 62.52 | (4.1 %) |
| Operating Income | 14.59 | 0.79 | (94.6 %) |
| Net Income | 12.24 | 0.06 | (99.5 %) |
| Average Shares | 9.50 | 9.50 | - |
| EPS (Riyals) | 1.29 | 0.01 | (99.5 %) |
Total shareholders’ equity, no minority interest, stood at SAR 129.78 million by Dec. 31, 2023, compared to SAR 118.59 million a year ago.
|
Historical Data |
|||
|
Period |
Revenue (SAR mln) |
Net profit (SAR mln) |
EPS (SAR /share) |
|
H1 2022 |
171.80 |
6.84 |
0.72 |
|
H2 2022 |
195.28 |
12.24 |
1.29 |
|
H1 2023 |
204.13 |
11.33 |
1.19 |
|
H2 2023 |
203.61 |
0.06 |
0.01 |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2023 | 204.13 | 18.8 % | 66.69 | 24.6 % | 13.16 | 38.4 % |
| H2 2023 | 203.61 | 4.3 % | 62.52 | (4.1 %) | 0.79 | (94.6 %) |
| 2023 | 407.74 | 11.1 % | 129.21 | 8.8 % | 13.95 | (42.1 %) |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2023 | 11.33 | 65.7 % | 1.19 | - | 11.33 | 1.19 |
| H2 2023 | 0.06 | (99.5 %) | 0.01 | - | 0.06 | 0.01 |
| 2023 | 11.39 | (40.3 %) | 1.20 | - | 11.39 | 1.20 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2023 | 33.02 % | 13.38 % | 5.90 % |
| H2 2023 | 31.69 % | 10.65 % | 2.79 % |
| 2023 | 31.69 % | 10.65 % | 2.79 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2023 | 9.50 | 2.48 | 2.48 | 13.65 |
| H2 2023 | 9.50 | 1.20 | 1.20 | 13.66 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2023 | - | - | - |
| H2 2023 | 25.02 | 25.02 | 2.20 |
Business Segments (Million)
Q2 2023
| Period | Pharmaceutical products | Personal care products | Mother and baby care products | Nutritional supplements | Medical tools and devices |
|---|---|---|---|---|---|
| Q2 2023 | 130.28 | 35.29 | 19.22 | 14.45 | 4.89 |
| Current | |
| Market Cap (M Riyal) | 288.33 |
| Enterprise Value (EV) (M) | 275.33 |
| Shares Outstanding ((M)) | 9.50 |
| Book Value (BV) ( Riyal) | 13.66 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 25.31 |
| Price/book | 2.22 |
Share Price
Almujtama Alraida Medical Co. (ALMUJTAMA MEDICAL)
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