Amlak 9M 2023 profit drops 72% to SAR 22.9 mln; Q3 at SAR 5.6 mln

Amlak 9M 2023 profit drops 72% to SAR 22.9 mln; Q3 at SAR 5.6 mln

29/10/2023 Argaam Exclusive

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Amlak International Finance Co. reported a net profit of SAR 22.9 million in the first nine months of 2023, a drop of 72% from SAR 80.7 million in the year-earlier period.



Financials (M)

Item 9m 2022 9m 2023 Change‬
Net income from finance commissions 166.62 121.99 (26.8 %)
Net Income 80.74 22.92 (71.6 %)
Average Shares 101.93 101.93 -
EPS (Riyals) 0.79 0.22 (71.6 %)

The profit drop was attributed to non-recurring exceptional gains during the same period of last year due to revaluation of servicing rights. This was also due to an increase in finance costs, operating expenses before provisions for credit and other losses, as well as provision for expected credit losses.



Current Quarter Comparison (M)

Compared With The
Item Q3 2022 Q3 2023 Change‬
Net income from finance commissions 63.01 37.98 (39.7 %)
Net Income 25.05 5.57 (77.8 %)
Average Shares 101.93 101.93 -
EPS (Riyals) 0.25 0.05 (77.8 %)

View More Financial Results

 


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 24.82 - 0.24 - 24.82 0.24
Q2 2016 29.83 - 0.29 - 29.83 0.29
Q3 2016 27.34 - 0.27 - 27.34 0.27
Q4 2016 27.05 - 0.27 - 27.05 0.27
Q1 2017 21.45 (13.6 %) 0.21 - 21.45 0.21
Q2 2017 31.00 3.9 % 0.30 - 31.00 0.30
Q3 2017 26.04 (4.8 %) 0.26 - 26.04 0.26
Q4 2017 24.78 (8.4 %) 0.24 - 24.78 0.24
Q1 2018 23.92 11.5 % 0.23 - 23.92 0.23
Q2 2018 22.58 (27.1 %) 0.22 - 22.58 0.22
Q3 2018 22.97 (11.8 %) 0.23 - 22.97 0.23
Q4 2018 (8.32) (133.6 %) (0.08) - (8.32) (0.08)
Q1 2019 3.60 (85.0 %) 0.04 - 3.60 0.04
Q2 2019 19.68 (12.9 %) 0.19 - 19.68 0.19
Q3 2019 24.76 7.8 % 0.24 - 24.76 0.24
Q4 2019 21.98 364.2 % 0.22 - 21.98 0.22
Q1 2020 29.49 720.3 % 0.29 - 29.49 0.29
Q2 2020 23.80 20.9 % 0.23 - 23.80 0.23
Q3 2020 23.20 (6.3 %) 0.23 - 23.20 0.23
Q4 2020 22.41 2.0 % 0.22 - 22.41 0.22
Q1 2021 25.20 (14.6 %) 0.25 - 25.20 0.25
Q2 2021 28.22 18.6 % 0.28 - 28.22 0.28
Q3 2021 29.50 27.2 % 0.29 - 29.50 0.29
Q4 2021 24.84 10.8 % 0.24 - 24.84 0.24
Q1 2022 27.12 7.6 % 0.27 - 27.12 0.27
Q2 2022 28.56 1.2 % 0.28 - 28.56 0.28
Q3 2022 25.05 (15.1 %) 0.25 - 25.05 0.25
Q4 2022 15.99 (35.6 %) 0.16 - 15.99 0.16
Q1 2023 11.04 (59.3 %) 0.11 - 11.04 0.11
Q2 2023 6.31 (77.9 %) 0.06 - 6.31 0.06
Q3 2023 5.57 (77.8 %) 0.05 - 5.57 0.05


Financial results (Million)

Period Commission income from finance and investments Change Net income from finance commissions Change
Q1 2014 - - - -
Q2 2014 - - - -
Q3 2014 - - - -
Q4 2014 - - - -
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 60.59 - 45.15 -
Q2 2016 65.61 - 46.33 -
Q3 2016 66.99 - 44.16 -
Q4 2016 67.19 - 42.94 -
Q1 2017 66.64 10.0 % 43.52 (3.6 %)
Q2 2017 67.01 2.1 % 44.55 (3.8 %)
Q3 2017 64.81 (3.3 %) 42.52 (3.7 %)
Q4 2017 67.54 0.5 % 43.66 1.7 %
Q1 2018 66.60 (0.1 %) 44.63 2.6 %
Q2 2018 62.94 (6.1 %) 40.68 (8.7 %)
Q3 2018 66.04 1.9 % 42.94 1.0 %
Q4 2018 71.63 6.1 % 49.17 12.6 %
Q1 2019 68.67 3.1 % 43.96 (1.5 %)
Q2 2019 68.89 9.5 % 44.72 9.9 %
Q3 2019 84.52 28.0 % 60.03 39.8 %
Q4 2019 74.26 3.7 % 51.03 3.8 %
Q1 2020 75.26 9.6 % 61.20 39.2 %
Q2 2020 73.16 6.2 % 52.34 17.0 %
Q3 2020 71.52 (15.4 %) 52.43 (12.7 %)
Q4 2020 58.79 (20.8 %) 45.02 (11.8 %)
Q1 2021 71.97 (4.4 %) 55.94 (8.6 %)
Q2 2021 70.61 (3.5 %) 54.37 3.9 %
Q3 2021 72.51 1.4 % 63.86 21.8 %
Q4 2021 69.38 18.0 % 54.23 20.5 %
Q1 2022 67.40 (6.3 %) 52.48 (6.2 %)
Q2 2022 69.82 (1.1 %) 51.14 (6.0 %)
Q3 2022 82.23 13.4 % 63.01 (1.3 %)
Q4 2022 72.02 3.8 % 52.91 (2.4 %)
Q1 2023 68.92 2.3 % 42.37 (19.3 %)
Q2 2023 72.83 4.3 % 41.64 (18.6 %)
Q3 2023 76.32 (7.2 %) 37.98 (39.7 %)

Profitability

Period Return On Average Assets Return on Average Equity Net Profit/Investment Income & Other Financing Operations
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - 41.88 %
Q1 2017 3.27 % 9.30 % 39.66 %
Q2 2017 3.25 % 9.70 % 39.89 %
Q3 2017 3.20 % 9.36 % 39.72 %
Q4 2017 3.12 % 8.97 % 38.82 %
Q1 2018 3.27 % 9.17 % 39.75 %
Q2 2018 3.03 % 8.72 % 37.16 %
Q3 2018 2.93 % 8.26 % 35.82 %
Q4 2018 1.86 % 5.33 % 22.89 %
Q1 2019 1.27 % 3.58 % 15.16 %
Q2 2019 1.17 % 3.36 % 13.78 %
Q3 2019 1.26 % 3.55 % 13.52 %
Q4 2019 2.10 % 6.22 % 23.62 %
Q1 2020 2.85 % 8.42 % 31.66 %
Q2 2020 2.83 % 8.65 % 32.56 %
Q3 2020 2.80 % 8.83 % 33.47 %
Q4 2020 2.83 % 8.70 % 35.48 %
Q1 2021 2.64 % 8.15 % 34.35 %
Q2 2021 2.73 % 8.61 % 36.29 %
Q3 2021 2.78 % 9.21 % 38.46 %
Q4 2021 3.02 % 9.21 % 37.88 %
Q1 2022 3.00 % 9.12 % 39.19 %
Q2 2022 3.18 % 9.49 % 39.42 %
Q3 2022 2.95 % 8.87 % 36.55 %
Q4 2022 2.74 % 7.97 % 33.18 %
Q1 2023 2.28 % 6.53 % 27.52 %
Q2 2023 1.68 % 4.93 % 19.73 %
Q3 2023 1.10 % 3.23 % 13.41 %

Balance Sheet (B)

Period Assets Change Net Finance Investments Change
Q1 2014 - - - -
Q2 2014 - - - -
Q3 2014 - - - -
Q4 2014 - - - -
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 3.19 - 2.93 -
Q2 2016 3.29 - 3.01 -
Q3 2016 3.28 - 3.09 -
Q4 2016 3.29 - 3.03 -
Q1 2017 3.27 2.5 % 3.03 3.5 %
Q2 2017 3.28 (0.4 %) 3.03 0.9 %
Q3 2017 3.32 1.2 % 3.17 2.4 %
Q4 2017 3.33 1.1 % 3.12 3.0 %
Q1 2018 3.20 (2.1 %) 3.03 0.1 %
Q2 2018 3.13 (4.5 %) 2.91 (4.2 %)
Q3 2018 3.13 (5.8 %) 2.94 (7.1 %)
Q4 2018 3.26 (1.9 %) 3.09 (1.0 %)
Q1 2019 3.22 0.6 % 3.02 (0.3 %)
Q2 2019 3.33 6.2 % 3.08 6.0 %
Q3 2019 3.18 1.9 % 2.99 1.7 %
Q4 2019 3.41 4.3 % 3.20 3.5 %
Q1 2020 3.50 8.9 % 3.28 8.5 %
Q2 2020 3.75 12.7 % 3.50 13.6 %
Q3 2020 3.85 21.0 % 3.59 19.9 %
Q4 2020 3.58 5.1 % 3.35 4.8 %
Q1 2021 3.65 4.3 % 3.31 1.1 %
Q2 2021 3.51 (6.5 %) 3.29 (6.1 %)
Q3 2021 3.73 (3.2 %) 3.44 (4.1 %)
Q4 2021 3.57 (0.4 %) 3.41 1.7 %
Q1 2022 3.67 0.4 % 3.53 6.4 %
Q2 2022 3.41 (2.7 %) 3.29 0.1 %
Q3 2022 3.43 (8.0 %) 3.28 (4.6 %)
Q4 2022 3.49 (2.3 %) 3.28 (3.7 %)
Q1 2023 3.41 (7.1 %) 3.19 (9.6 %)
Q2 2023 3.55 4.2 % 3.34 1.4 %
Q3 2023 3.63 5.6 % 3.47 5.6 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2014 - - - -
Q2 2014 - - - -
Q3 2014 - - - -
Q4 2014 - - - -
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 101.93 - - 10.99
Q2 2016 101.93 - - 10.63
Q3 2016 101.93 - - 10.89
Q4 2016 101.93 1.07 1.07 11.12
Q1 2017 101.93 1.04 1.04 11.31
Q2 2017 101.93 1.05 1.05 10.98
Q3 2017 101.93 1.04 1.04 11.23
Q4 2017 101.93 1.01 1.01 11.47
Q1 2018 101.93 1.04 1.04 11.32
Q2 2018 101.93 0.95 0.95 10.91
Q3 2018 101.93 0.92 0.92 11.14
Q4 2018 101.93 0.60 0.60 11.06
Q1 2019 101.93 0.40 0.40 11.08
Q2 2019 101.93 0.37 0.37 11.24
Q3 2019 101.93 0.39 0.39 10.84
Q4 2019 101.93 0.69 0.69 11.04
Q1 2020 101.93 0.94 0.94 11.26
Q2 2020 101.93 0.98 0.98 11.46
Q3 2020 101.93 0.97 0.97 11.04
Q4 2020 101.93 0.97 0.97 11.27
Q1 2021 101.93 0.93 0.93 11.52
Q2 2021 101.93 0.97 0.97 11.11
Q3 2021 101.93 1.03 1.03 11.41
Q4 2021 101.93 1.06 1.06 11.69
Q1 2022 101.93 1.08 1.08 12.07
Q2 2022 101.93 1.08 1.08 11.65
Q3 2022 101.93 1.04 1.04 11.95
Q4 2022 101.93 0.95 0.95 12.12
Q1 2023 101.93 0.79 0.79 12.18
Q2 2023 101.93 0.57 0.57 11.60
Q3 2023 101.93 0.38 0.38 11.66

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 21.86 21.86 1.91
Q4 2020 20.04 20.04 1.73
Q1 2021 21.22 21.22 1.71
Q2 2021 20.49 20.49 1.79
Q3 2021 20.06 20.06 1.82
Q4 2021 17.77 17.77 1.61
Q1 2022 17.66 17.66 1.57
Q2 2022 14.74 14.74 1.37
Q3 2022 14.16 14.16 1.23
Q4 2022 13.98 13.98 1.09
Q1 2023 17.17 17.17 1.12
Q2 2023 24.31 24.31 1.20
Q3 2023 32.24 32.24 1.06


Financial Ratios
Current
Market Cap (M) 1,200.68
Shares Outstanding ((M)) 101.93
EPS ( Riyal) (TTM) 0.35
Book Value (BV) ( Riyal) 11.77
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 33.31
P/E (TTM) 33.31
Price/book 1.00
Return on Average Assets (%) (TTM) 0.9
Return on Average Equity (%) (TTM) 3.0
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Share Price

Amlak International Finance Co.
11.80
(0.14) (1.17 %)

Amlak International Finance Co. (AMLAK)

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