SHL earnings climb to SAR 15.8M in 9M 2024, SAR 5.1M in Q3

SHL earnings climb to SAR 15.8M in 9M 2024, SAR 5.1M in Q3

07/11/2024 Argaam Exclusive

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SHL Finance Co.’s net earnings grew 60.7% to SAR 15.8 million net profit for the first nine months of 2024, compared to SAR 9.81 million in 9M 2023.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Net income from finance commissions 87.29 107.15 22.8 %
Net Income 9.81 15.77 60.7 %
Average Shares 100.00 100.00 -
EPS (Riyals) 0.10 0.16 60.7 %

The nine-month profit growth was spurred by the 14.04% annual rise in gross special commission income, paired with the elevated yield on new loans and the expanded financing portfolio.

 

Net profit for Q3 2024 amounted to SAR 5.11 million, up 7.2% from SAR 4.77 million in the third quarter of 2023.

 

Sequentially, however, the company’s bottom line plunged by 15.4% from SAR 6.04 million in Q2 2024, pressured by the quarterly hike in general and administrative expenses during the current quarter.



Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Net income from finance commissions 31.78 36.09 13.6 %
Net Income 4.77 5.11 7.2 %
Average Shares 100.00 100.00 -
EPS (Riyals) 0.05 0.05 7.2 %

View More Financial Results

 


Financial results (Million)

Period Commission income from finance and investments Change Net income from finance commissions Change
Q1 2015 64.56 7.2 % 44.75 9.3 %
Q2 2015 66.14 7.6 % 47.29 11.5 %
Q3 2015 66.39 10.8 % 47.74 13.5 %
Q4 2015 64.42 (1.7 %) 44.47 (3.7 %)
Q1 2016 67.11 3.9 % 44.76 0.0 %
Q2 2016 67.90 2.7 % 42.29 (10.6 %)
Q3 2016 70.01 5.5 % 40.80 (14.5 %)
Q4 2016 70.70 9.7 % 39.45 (11.3 %)
Q1 2017 68.94 2.7 % 37.06 (17.2 %)
Q2 2017 72.49 6.8 % 42.18 (0.2 %)
Q3 2017 74.21 6.0 % 43.83 7.4 %
Q4 2017 74.00 4.7 % 45.29 14.8 %
Q1 2018 72.70 5.5 % 41.36 11.6 %
Q2 2018 80.35 10.8 % 47.69 13.1 %
Q3 2018 82.02 10.5 % 46.88 7.0 %
Q4 2018 80.32 8.5 % 44.01 (2.8 %)
Q1 2019 77.10 6.1 % 40.32 (2.5 %)
Q2 2019 78.39 (2.4 %) 40.97 (14.1 %)
Q3 2019 77.99 (4.9 %) 43.13 (8.0 %)
Q4 2019 77.90 (3.0 %) 45.62 3.7 %
Q1 2020 77.48 0.5 % 48.05 19.2 %
Q2 2020 74.43 (5.1 %) 51.13 24.8 %
Q3 2020 74.66 (4.3 %) 50.26 16.5 %
Q4 2020 76.78 (1.4 %) 56.76 24.4 %
Q1 2021 75.99 (1.9 %) 56.17 16.9 %
Q2 2021 73.48 (1.3 %) 54.02 5.6 %
Q3 2021 75.40 1.0 % 56.16 11.7 %
Q4 2021 70.36 (8.4 %) 50.97 (10.2 %)
Q1 2022 65.31 (14.1 %) 45.19 (19.5 %)
Q2 2022 69.04 (6.1 %) 46.56 (13.8 %)
Q3 2022 67.57 (10.4 %) 35.46 (36.9 %)
Q4 2022 69.91 (0.6 %) 34.09 (33.1 %)
Q1 2023 73.71 12.9 % 27.80 (38.5 %)
Q2 2023 76.05 10.2 % 27.71 (40.5 %)
Q3 2023 77.96 15.4 % 31.78 (10.4 %)
Q4 2023 81.97 17.2 % 32.28 (5.3 %)
Q1 2024 86.90 17.9 % 33.77 21.5 %
Q2 2024 90.37 18.8 % 37.81 36.4 %
Q3 2024 89.27 14.5 % 36.09 13.6 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2015 29.35 12.4 % 0.29 - 29.35 0.29
Q2 2015 30.84 16.3 % 0.31 - 30.84 0.31
Q3 2015 29.62 6.8 % 0.30 - 29.62 0.30
Q4 2015 30.78 (4.1 %) 0.31 - 30.78 0.31
Q1 2016 28.41 (3.2 %) 0.28 - 28.41 0.28
Q2 2016 26.67 (13.5 %) 0.27 - 26.67 0.27
Q3 2016 23.96 (19.1 %) 0.24 - 23.96 0.24
Q4 2016 21.22 (31.0 %) 0.21 - 21.22 0.21
Q1 2017 21.89 (22.9 %) 0.22 - 21.89 0.22
Q2 2017 26.81 0.5 % 0.27 - 26.81 0.27
Q3 2017 26.21 9.4 % 0.26 - 26.21 0.26
Q4 2017 24.78 16.8 % 0.25 - 24.78 0.25
Q1 2018 21.62 (1.2 %) 0.22 - 21.62 0.22
Q2 2018 14.36 (46.4 %) 0.14 - 14.36 0.14
Q3 2018 16.34 (37.7 %) 0.16 - 16.34 0.16
Q4 2018 (8.00) (132.3 %) (0.08) (25.46) 17.46 0.17
Q1 2019 23.30 7.8 % 0.23 - 23.30 0.23
Q2 2019 2.86 (80.1 %) 0.03 (12.83) 15.70 0.16
Q3 2019 19.57 19.8 % 0.20 - 19.57 0.20
Q4 2019 8.93 211.5 % 0.09 - 8.93 0.09
Q1 2020 15.69 (32.7 %) 0.16 - 15.69 0.16
Q2 2020 14.48 405.8 % 0.14 - 14.48 0.14
Q3 2020 25.90 32.4 % 0.26 - 25.90 0.26
Q4 2020 29.05 225.4 % 0.29 - 29.05 0.29
Q1 2021 29.47 87.9 % 0.29 - 29.47 0.29
Q2 2021 29.29 102.3 % 0.29 - 29.29 0.29
Q3 2021 24.34 (6.0 %) 0.24 - 24.34 0.24
Q4 2021 20.09 (30.8 %) 0.20 - 20.09 0.20
Q1 2022 32.36 9.8 % 0.32 10.63 21.72 0.22
Q2 2022 31.30 6.9 % 0.31 15.42 15.88 0.16
Q3 2022 16.38 (32.7 %) 0.16 8.06 8.32 0.08
Q4 2022 15.85 (21.1 %) 0.16 7.88 7.97 0.08
Q1 2023 2.45 (92.4 %) 0.02 2.31 0.13 0.00
Q2 2023 2.60 (91.7 %) 0.03 - 2.60 0.03
Q3 2023 4.77 (70.9 %) 0.05 5.18 (0.41) 0.00
Q4 2023 (7.48) (147.2 %) (0.07) (9.37) 1.88 0.02
Q1 2024 4.61 88.6 % 0.05 (0.95) 5.56 0.06
Q2 2024 6.04 132.6 % 0.06 - 6.04 0.06
Q3 2024 5.11 7.2 % 0.05 - 5.11 0.05

Profitability

Period Return On Average Assets Return on Average Equity Net Profit/Investment Income & Other Financing Operations
Q1 2015 - - 46.00 %
Q2 2015 - - 46.85 %
Q3 2015 - - 46.42 %
Q4 2015 3.24 % 10.11 % 46.12 %
Q1 2016 3.13 % 9.80 % 45.32 %
Q2 2016 2.92 % 9.25 % 43.44 %
Q3 2016 2.78 % 8.62 % 40.76 %
Q4 2016 2.55 % 7.74 % 36.36 %
Q1 2017 2.32 % 7.10 % 33.78 %
Q2 2017 2.27 % 6.99 % 33.28 %
Q3 2017 2.31 % 7.03 % 33.57 %
Q4 2017 2.38 % 7.18 % 34.42 %
Q1 2018 2.32 % 7.14 % 33.89 %
Q2 2018 2.02 % 6.16 % 28.87 %
Q3 2018 1.79 % 5.38 % 24.95 %
Q4 2018 1.01 % 3.08 % 14.05 %
Q1 2019 1.05 % 3.18 % 14.38 %
Q2 2019 0.79 % 2.37 % 10.85 %
Q3 2019 0.86 % 2.56 % 12.02 %
Q4 2019 1.23 % 3.71 % 17.56 %
Q1 2020 1.06 % 3.15 % 15.09 %
Q2 2020 1.32 % 3.91 % 19.06 %
Q3 2020 1.45 % 4.26 % 21.35 %
Q4 2020 1.88 % 5.52 % 28.06 %
Q1 2021 2.19 % 6.32 % 32.76 %
Q2 2021 2.53 % 7.16 % 37.79 %
Q3 2021 2.51 % 6.95 % 37.18 %
Q4 2021 2.24 % 6.30 % 34.95 %
Q1 2022 2.38 % 6.36 % 37.28 %
Q2 2022 2.45 % 6.51 % 38.59 %
Q3 2022 2.28 % 5.96 % 36.78 %
Q4 2022 2.15 % 5.64 % 35.28 %
Q1 2023 1.50 % 3.84 % 23.54 %
Q2 2023 0.86 % 2.23 % 12.98 %
Q3 2023 0.59 % 1.53 % 8.62 %
Q4 2023 0.05 % 0.14 % 0.75 %
Q1 2024 0.10 % 0.27 % 1.39 %
Q2 2024 0.18 % 0.48 % 2.35 %
Q3 2024 0.19 % 0.50 % 2.38 %

Balance Sheet (B)

Period Assets Change Net Finance Investments Change
Q1 2015 3.77 - 3.61 -
Q2 2015 3.88 - 3.63 -
Q3 2015 3.82 - 3.64 -
Q4 2015 3.78 2.8 % 3.69 3.2 %
Q1 2016 3.88 2.8 % 3.71 2.9 %
Q2 2016 4.04 4.2 % 3.85 6.0 %
Q3 2016 4.07 6.6 % 3.95 8.5 %
Q4 2016 4.10 8.4 % 3.99 8.1 %
Q1 2017 4.20 8.2 % 4.05 9.2 %
Q2 2017 4.23 4.7 % 4.07 5.7 %
Q3 2017 4.26 4.6 % 4.11 4.0 %
Q4 2017 4.30 4.9 % 4.18 4.8 %
Q1 2018 4.38 4.4 % 4.17 2.9 %
Q2 2018 4.37 3.2 % 4.19 2.8 %
Q3 2018 4.36 2.4 % 4.15 1.2 %
Q4 2018 4.44 3.3 % 4.19 0.2 %
Q1 2019 4.39 0.3 % 4.17 0.1 %
Q2 2019 4.37 0.1 % 4.19 0.2 %
Q3 2019 4.41 1.1 % 4.20 1.0 %
Q4 2019 4.47 0.6 % 4.24 1.1 %
Q1 2020 4.51 2.5 % 4.28 2.4 %
Q2 2020 4.53 3.8 % 4.31 2.8 %
Q3 2020 4.53 2.9 % 4.26 1.6 %
Q4 2020 4.61 3.1 % 4.20 (0.9 %)
Q1 2021 4.51 0.1 % 4.19 (1.9 %)
Q2 2021 4.45 (1.8 %) 4.22 (2.2 %)
Q3 2021 4.39 (3.2 %) 4.17 (2.2 %)
Q4 2021 4.59 (0.4 %) 4.01 (4.4 %)
Q1 2022 4.39 (2.6 %) 4.12 (1.8 %)
Q2 2022 4.39 (1.4 %) 4.10 (2.7 %)
Q3 2022 4.38 (0.2 %) 4.13 (1.0 %)
Q4 2022 4.33 (5.7 %) 3.81 (4.9 %)
Q1 2023 4.37 (0.4 %) 3.75 (8.9 %)
Q2 2023 4.31 (1.8 %) 3.72 (9.4 %)
Q3 2023 4.36 (0.4 %) 3.66 (11.3 %)
Q4 2023 4.38 1.3 % 3.61 (5.5 %)
Q1 2024 4.43 1.2 % 3.56 (5.2 %)
Q2 2024 4.45 3.4 % 3.56 (4.1 %)
Q3 2024 4.52 3.7 % 3.54 (3.2 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2015 100.00 1.16 1.16 11.66
Q2 2015 100.00 1.20 1.20 11.96
Q3 2015 100.00 1.22 1.22 12.26
Q4 2015 100.00 1.21 1.21 12.49
Q1 2016 100.00 1.20 1.20 12.77
Q2 2016 100.00 1.15 1.15 13.00
Q3 2016 100.00 1.10 1.10 13.23
Q4 2016 100.00 1.00 1.00 13.43
Q1 2017 100.00 0.94 0.94 13.63
Q2 2017 100.00 0.94 0.94 13.89
Q3 2017 100.00 0.96 0.96 14.13
Q4 2017 100.00 1.00 1.00 14.34
Q1 2018 100.00 0.99 0.99 14.20
Q2 2018 100.00 0.87 0.87 14.37
Q3 2018 100.00 0.77 0.77 14.54
Q4 2018 100.00 0.44 0.70 14.46
Q1 2019 100.00 0.46 0.71 14.69
Q2 2019 100.00 0.34 0.73 14.71
Q3 2019 100.00 0.38 0.76 14.92
Q4 2019 100.00 0.55 0.67 15.00
Q1 2020 100.00 0.47 0.60 15.16
Q2 2020 100.00 0.59 0.59 15.30
Q3 2020 100.00 0.65 0.65 15.57
Q4 2020 100.00 0.85 0.85 15.86
Q1 2021 100.00 0.99 0.99 16.15
Q2 2021 100.00 1.14 1.14 16.45
Q3 2021 100.00 1.12 1.12 16.70
Q4 2021 100.00 1.03 1.03 16.90
Q1 2022 100.00 1.06 0.95 17.22
Q2 2022 100.00 1.08 0.82 16.76
Q3 2022 100.00 1.00 0.66 16.93
Q4 2022 100.00 0.96 0.54 17.09
Q1 2023 100.00 0.66 0.32 17.11
Q2 2023 100.00 0.37 0.19 16.63
Q3 2023 100.00 0.26 0.10 16.68
Q4 2023 100.00 0.02 0.04 16.61
Q1 2024 100.00 0.04 0.10 16.65
Q2 2024 100.00 0.08 0.13 16.72
Q3 2024 100.00 0.08 0.19 16.77

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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 - - -
Q4 2020 - - -
Q1 2021 - - -
Q2 2021 - - -
Q3 2021 - - -
Q4 2021 - - -
Q1 2022 - - -
Q2 2022 18.54 24.43 1.20
Q3 2022 20.65 31.33 1.22
Q4 2022 21.36 38.00 1.20
Q1 2023 30.56 More than 100 1.18
Q2 2023 More than 100 More than 100 1.17
Q3 2023 More than 100 More than 100 1.10
Q4 2023 More than 100 More than 100 1.10
Q1 2024 More than 100 More than 100 1.01
Q2 2024 More than 100 More than 100 0.89
Q3 2024 More than 100 More than 100 0.99


Financial Ratios
Current
Market Cap (M) 1,658.00
Shares Outstanding ((M)) 100.00
EPS ( Riyal) (TTM) 0.08
Book Value (BV) ( Riyal) 16.77
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 0.99
Return on Average Assets (%) (TTM) 0.2
Return on Average Equity (%) (TTM) 0.5
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Share Price

SHL Finance Co.
16.58
(0.48) (2.81 %)

SHL Finance Co. (SHL)

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