Almujtama Alraida profit falls 83% to SAR 2M in H1 202

Almujtama Alraida profit falls 83% to SAR 2M in H1 202

08/08/2024 Argaam Exclusive

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Almujtama Alraida Medical Co.’s net profit declined 83% to SAR 2 million in H1 2024 from SAR 11 million a year earlier.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 204.13 209.40 2.6 %
Gross Income 66.69 68.86 3.3 %
Operating Income 13.16 3.62 (72.5 %)
Net Income 11.33 1.98 (82.5 %)
Average Shares 9.50 9.50 -
EPS (Riyals) 1.19 0.21 (82.5 %)

The profit decline was due to weak sales growth, which led to a failure to absorb operating expenses. This was in addition to spending on promotional expenses as well as closing a distinguished branch on a decision from the municipality.

 

However, the company posted a 2.6% (SAR 5.26 million) increase in revenues during H1 2024 compared with a year earlier on opening new branches.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 204.13 209.40 2.6 %
Gross Income 66.69 68.86 3.3 %
Operating Income 13.16 3.62 (72.5 %)
Net Income 11.33 1.98 (82.5 %)
Average Shares 9.50 9.50 -
EPS (Riyals) 1.19 0.21 (82.5 %)

Total shareholders’ equity, no minority interest, stood at SAR 131.8 million by June 30, 2024, compared to SAR 129.6 million a year ago.

 

Interim Data History

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

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

H1 2024

209.3

1.98

0.21

 

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 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 %
H2 2023 203.61 4.3 % 62.52 (4.1 %) 0.79 (94.6 %)
H1 2024 209.40 2.6 % 68.86 3.3 % 3.62 (72.5 %)


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 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
H2 2023 0.06 (99.5 %) 0.01 - 0.06 0.01
H1 2024 1.98 (82.5 %) 0.21 - 1.98 0.21

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 32.34 % 12.57 % 5.20 %
H1 2023 33.02 % 13.38 % 5.90 %
H2 2023 31.69 % 10.65 % 2.79 %
H1 2024 31.81 % 9.62 % 0.49 %


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 9.50 - - 11.12
H2 2022 9.50 2.01 2.01 12.48
H1 2023 9.50 2.48 2.48 13.65
H2 2023 9.50 1.20 1.20 13.66
H1 2024 9.50 0.21 0.21 13.87

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 25.02 25.02 2.20
H1 2024 More than 100 More than 100 2.23

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) 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
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Share Price

Almujtama Alraida Medical Co.
30.35
0.45 1.51 %

Almujtama Alraida Medical Co. (ALMUJTAMA MEDICAL)

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