Al Mujtama Alraida H1 profit rises 66% to SAR 11.3 mln

Al Mujtama Alraida H1 profit rises 66% to SAR 11.3 mln

26/10/2023 Argaam Exclusive

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Almujtama Alraida Medical Co. posted SAR 11.3 million net profit for the first half of 2023, an increase of 66% from SAR 6.8 million in H1 2022.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 171.80 204.13 18.8 %
Gross Income 53.51 66.69 24.6 %
Operating Income 9.51 13.16 38.4 %
Net Income 6.84 11.33 65.7 %
Average Shares 9.50 9.50 -
EPS (Riyals) 0.72 1.19 65.7 %


Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 171.80 204.13 18.8 %
Gross Income 53.51 66.69 24.6 %
Operating Income 9.51 13.16 38.4 %
Net Income 6.84 11.33 65.7 %
Average Shares 9.50 9.50 -
EPS (Riyals) 0.72 1.19 65.7 %

The profit increase came as sales rose 19% year-on-year (YoY) to SAR 204.1 million and gross profit margins increased to 33% from 31% in the prior-year period. Operating profit margin was stable YoY at 6%, while financing expenses declined.

 

Meanwhile, Zakat expenses surged 73% in H1 2023.

 

Shareholders' equity (with no minority interest) amounted to SAR 129.6 million in H1 2023, compared to SAR 105.7 million in H1 2022.



Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2014 - - - - - -
H2 2014 - - - - - -
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 171.80 - 53.51 - 9.51 -
H2 2022 195.27 - 65.21 - 14.59 -
H1 2023 204.13 18.8 % 66.69 24.6 % 13.16 38.4 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2014 - - - - - -
H2 2014 - - - - - -
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 6.84 - 0.72 - 6.84 0.72
H2 2022 12.24 - 1.29 - 12.24 1.29
H1 2023 11.33 65.7 % 1.19 - 11.33 1.19

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2014 - - -
H2 2014 - - -
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 32.34 % 12.57 % 5.20 %
H1 2023 33.02 % 13.38 % 5.90 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2014 - - - -
H2 2014 - - - -
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 9.50 - - 11.12
H2 2022 9.50 2.01 2.01 12.48
H1 2023 9.50 2.48 2.48 13.65

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2014 - - -
H2 2014 - - -
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 - - -

Business Segments (Million)

Compared With The
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


Financial Ratios
Current
Market Cap (M Riyal) 289.75
Enterprise Value (EV) (M) 276.75
Shares Outstanding ((M)) 9.50
Book Value (BV) ( Riyal) 13.66
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 25.43
Price/book 2.23
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Share Price

Almujtama Alraida Medical Co.
30.50
(0.10) (0.33 %)

Almujtama Alraida Medical Co. (ALMUJTAMA MEDICAL)

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