Al Ashghal Al Moysra profit rises 37% to SAR 10.7M in 2023, Q4 at SAR 3.9M
24/07/2024
Argaam Exclusive
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Al Ashghal Al Moysra Co., a newly-listed company on the Nomu-Parallel Market, reported a net profit of SAR 10.7 million for 2023, a 37% increase from SAR 7.8 million in 2022.
Financials (M)
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 47.51 | 53.94 | 13.5 % |
| Gross Income | 12.08 | 17.63 | 46.0 % |
| Operating Income | 6.94 | 10.30 | 48.5 % |
| Net Income | 7.80 | 10.65 | 36.6 % |
| Average Shares | 2.40 | 2.40 | - |
| EPS (Riyals) | 3.25 | 4.44 | 36.6 % |
The profit increase was driven by project expansion across various geographies and lower costs.
Net profit for Q4 2023 reached SAR 3.9 million, a 130% surge from SAR 1.7 million in Q4 2022.
Compared With The
Current Half Annual Comparison (M)
| Item | H2 2022 | H2 2023 | Change |
|---|
Total shareholders’ equity (no minority interest) stood at SAR 39.89 million by the end of 2023, compared to SAR 7.76 million by 2022-end.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2023 | 23.46 | - | 7.55 | - | 4.13 | - |
| H2 2023 | 30.49 | - | 10.08 | - | 6.16 | - |
| 2023 | 53.94 | 13.5 % | 17.63 | 46.0 % | 10.30 | 48.5 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2023 | 4.59 | - | 1.91 | - | 4.59 | 1.91 |
| H2 2023 | 6.06 | - | 2.52 | - | 6.06 | 2.52 |
| 2023 | 10.65 | 36.6 % | 4.44 | - | 10.65 | 4.44 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2023 | - | - | - |
| H2 2023 | 32.69 % | 20.35 % | 19.74 % |
| 2023 | 32.69 % | 20.35 % | 19.74 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2023 | 2.40 | - | - | 5.15 |
| H2 2023 | 2.40 | 4.44 | 4.44 | 16.63 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2023 | - | - | - |
| H2 2023 | - | - | - |
Business Segments (Million)
Q4 2023
| Period | Maintenance and Operations | Construction | Transportation |
|---|---|---|---|
| Q2 2023 | 18.97 | 2.45 | 2.04 |
| Q4 2023 | 16.85 | 9.53 | 4.11 |
| Current | |
| Market Cap (M Riyal) | 143.52 |
| Enterprise Value (EV) (M) | 130.39 |
| Shares Outstanding ((M)) | 2.40 |
| Book Value (BV) ( Riyal) | 16.63 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 13.48 |
| Price/book | 3.60 |
Share Price
Al Ashghal Al Moysra Co. (ALASHGHAL ALMOYSRA)
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