TAQAT logs SAR 2.8M loss in H1 2023

TAQAT logs SAR 2.8M loss in H1 2023

14/02/2024 Argaam Exclusive

View other reports

TAQAT Mineral Trading Co. logged SAR 2.8 million loss in the first half of 2023, against SAR 2.6 million profit in the year-ago period.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 141.86 78.23 (44.9 %)
Gross Income 6.29 1.31 (79.2 %)
Operating Income 3.25 (2.20) (167.9 %)
Net Income 2.55 (2.76) (208.2 %)
Average Shares 9.75 9.75 -
EPS (Riyals) 0.26 (0.28) (208.2 %)


Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 141.86 78.23 (44.9 %)
Gross Income 6.29 1.31 (79.2 %)
Operating Income 3.25 (2.20) (167.9 %)
Net Income 2.55 (2.76) (208.2 %)
Average Shares 9.75 9.75 -
EPS (Riyals) 0.26 (0.28) (208.2 %)

The loss incurred in H1 2023 was attributed to a decline in revenues to SAR 78.2 million, from SAR 141.9 million in H1 2022, as well as in gross profit margin by 2%, from 4% in the year-ago period.

 

Moreover, the company recorded 3% operating loss margin, against 2% operating profit margin in H1 2022, due to the rise in general and administrative expenses.

 

Shareholders' equity (with no minority rights) amounted to SAR 97.517 million by the end of H1 2023, compared to SAR 103.986 million in H1 2022.

 

TAQAT Mineral's shareholders approved, on May 28, 2023, listing 2.44 million shares, representing 20% of the company's post-IPO capital (25% of pre-IPO capital) on the Nomu-Parallel Market at SAR 10 per share, according to Argaam's data.



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 141.86 - 6.29 - 3.25 -
H2 2022 98.12 - 2.15 - (1.50) -
H1 2023 78.23 (44.9 %) 1.31 (79.2 %) (2.20) (167.9 %)


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 2.55 - 0.26 - 2.55 0.26
H2 2022 (1.72) - (0.18) - (1.72) (0.18)
H1 2023 (2.76) (208.2 %) (0.28) - (2.76) (0.28)

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 3.51 % 2.54 % 0.35 %
H1 2023 1.96 % 0.51 % (2.54 %)


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 9.75 - - 10.67
H2 2022 9.75 0.09 0.09 10.58
H1 2023 9.75 (0.46) (0.46) 10.00

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 Shear steel Processed heavy steel Steel tying wire Other materials
Q2 2022 31.35 108.11 - 2.40
Q4 2022 34.21 62.90 - 1.01
Q2 2023 32.46 45.04 - 0.73


Financial Ratios
Current
Market Cap (M Riyal) 143.81
Enterprise Value (EV) (M) 162.91
Shares Outstanding ((M)) 12.19
Book Value (BV) ( Riyal) 8.75
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
Price/book 1.69
more

Share Price

Taqat Mineral Trading Co.
11.80
(0.14) (1.17 %)

Taqat Mineral Trading Co. (TAQAT)

More

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.