NGDC posts 33% profit leap to SAR 3.3 mln in 2022

30/03/2023 Argaam Exclusive

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Natural Gas Distribution Co. (NGDC) reported a 33% profit jump to SAR 3.3 million in 2022, from SAR 2.5 million in 2021, thanks to higher sales and other revenue.

Financials (M)

Item	2021	2022	Change‬
Revenues	89.59	91.01	1.6 %
Gross Income	8.43	7.97	(5.5 %)
Operating Income	2.85	3.14	10.4 %
Net Income	2.48	3.29	32.6 %
Average Shares	5.00	5.00	-
EPS (Riyals)	0.50	0.66	32.6 %

The natural gas producer recorded a decline in general and administrative expenses, compared to 2021.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2021	H2 2022	Change‬
Revenues	44.66	47.76	6.9 %
Gross Income	4.12	4.58	11.3 %
Operating Income	1.52	2.17	42.9 %
Net Income	1.25	2.36	88.5 %
Average Shares	5.00	5.00	-
EPS (Riyals)	0.25	0.47	88.5 %

Item	H1 2022	H2 2022	Change‬
Revenues	43.25	47.76	10.4 %
Gross Income	3.39	4.58	35.3 %
Operating Income	0.97	2.17	124.1 %
Net Income	0.93	2.36	153.7 %
Average Shares	5.00	5.00	-
EPS (Riyals)	0.19	0.47	153.7 %

Total shareholders’ equity, no minority interest, increased to SAR 56.98 million as of Dec. 31, 2022, from SAR 56.19 million a year earlier.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
H1 2013	-	-	-	-	-	-
H2 2013	-	-	-	-	-	-
2013	-	-	-	-	-	-
H1 2014	-	-	-	-	-	-
H2 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	77.80	-	6.26	-	2.67	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	80.75	3.8 %	7.93	26.6 %	3.92	46.9 %
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	87.33	8.2 %	9.42	18.8 %	4.82	22.9 %
H1 2020	44.49	-	4.81	-	2.52	-
H2 2020	44.76	-	4.74	-	2.17	-
2020	89.25	2.2 %	9.55	1.4 %	4.68	(2.9 %)
H1 2021	44.93	1.0 %	4.32	(10.2 %)	1.32	(47.4 %)
H2 2021	44.66	(0.2 %)	4.12	(13.3 %)	1.52	(29.8 %)
2021	89.59	0.4 %	8.43	(11.7 %)	2.85	(39.3 %)
H1 2022	43.25	(3.8 %)	3.39	(21.5 %)	0.97	(26.8 %)
H2 2022	47.76	6.9 %	4.58	11.3 %	2.17	42.9 %
2022	91.01	1.6 %	7.97	(5.5 %)	3.14	10.4 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	77.80	-	6.26	-	2.67	-
2018	80.75	3.8 %	7.93	26.6 %	3.92	46.9 %
2019	87.33	8.2 %	9.42	18.8 %	4.82	22.9 %
2020	89.25	2.2 %	9.55	1.4 %	4.68	(2.9 %)
2021	89.59	0.4 %	8.43	(11.7 %)	2.85	(39.3 %)
2022	91.01	1.6 %	7.97	(5.5 %)	3.14	10.4 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
H1 2013	-	-	-	-	-	-
H2 2013	-	-	-	-	-	-
2013	-	-	-	-	-	-
H1 2014	-	-	-	-	-	-
H2 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	2.69	-	0.54	-	2.69	0.54
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	3.93	46.1 %	0.79	-	3.93	0.79
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	4.96	26.2 %	0.99	-	4.96	0.99
H1 2020	2.49	-	0.50	-	2.49	0.50
H2 2020	1.94	-	0.39	-	1.94	0.39
2020	4.42	(10.8 %)	0.88	-	4.42	0.88
H1 2021	1.23	(50.6 %)	0.25	-	1.23	0.25
H2 2021	1.25	(35.3 %)	0.25	-	1.25	0.25
2021	2.48	(43.9 %)	0.50	-	2.48	0.50
H1 2022	0.93	(24.3 %)	0.19	-	0.93	0.19
H2 2022	2.36	88.5 %	0.47	-	2.36	0.47
2022	3.29	32.6 %	0.66	-	3.29	0.66

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	2.69	-	0.54	-	2.69	0.54
2018	3.93	46.1 %	0.79	-	3.93	0.79
2019	4.96	26.2 %	0.99	-	4.96	0.99
2020	4.42	(10.8 %)	0.88	-	4.42	0.88
2021	2.48	(43.9 %)	0.50	-	2.48	0.50
2022	3.29	32.6 %	0.66	-	3.29	0.66

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
H1 2013	-	-	-
H2 2013	-	-	-
2013	-	-	-
H1 2014	-	-	-
H2 2014	-	-	-
2014	-	-	-
H1 2015	-	-	-
H2 2015	-	-	-
2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
2016	-	-	-
H1 2017	-	-	-
H2 2017	-	-	-
2017	8.05 %	9.45 %	3.46 %
H1 2018	-	-	-
H2 2018	-	-	-
2018	9.82 %	10.67 %	4.86 %
H1 2019	-	-	-
H2 2019	-	-	-
2019	10.79 %	10.57 %	5.68 %
H1 2020	-	-	-
H2 2020	10.70 %	10.49 %	4.96 %
2020	10.70 %	10.49 %	4.96 %
H1 2021	10.10 %	9.48 %	3.53 %
H2 2021	9.41 %	9.50 %	2.77 %
2021	9.41 %	9.50 %	2.77 %
H1 2022	8.53 %	10.20 %	2.48 %
H2 2022	8.75 %	10.55 %	3.62 %
2022	8.75 %	10.55 %	3.62 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	8.05 %	9.45 %	3.46 %
2018	9.82 %	10.67 %	4.86 %
2019	10.79 %	10.57 %	5.68 %
2020	10.70 %	10.49 %	4.96 %
2021	9.41 %	9.50 %	2.77 %
2022	8.75 %	10.55 %	3.62 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
H1 2013	-	-	-
H2 2013	-	-	-
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	10.80 %	10.72 %	5.59 %
H2 2020	10.60 %	10.25 %	4.33 %
H1 2021	9.61 %	8.71 %	2.73 %
H2 2021	9.21 %	10.29 %	2.80 %
H1 2022	7.83 %	10.11 %	2.15 %
H2 2022	9.59 %	10.94 %	4.94 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
H1 2013	-	-	-	-
H2 2013	-	-	-	-
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	5.00	-	-	-
H2 2020	5.00	0.88	0.88	11.26
H1 2021	5.00	0.63	0.63	10.94
H2 2021	5.00	0.50	0.50	11.24
H1 2022	5.00	0.44	0.44	10.92
H2 2022	5.00	0.66	0.66	11.40

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2013	-	-	-	-
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	5.00	0.54	0.54	11.00
2018	5.00	0.79	0.79	11.26
2019	5.00	0.99	0.99	11.34
2020	5.00	0.88	0.88	11.26
2021	5.00	0.50	0.50	11.24
2022	5.00	0.66	0.66	11.40

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
H1 2013	-	-	-
H2 2013	-	-	-
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	More than 100	More than 100	10.73
H1 2022	More than 100	More than 100	6.30
H2 2022	88.12	88.12	5.09

Period	P/E	Adjusted P/E	Price/book
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	More than 100	More than 100	10.73
2022	88.12	88.12	5.09

Financial Ratios

	Current
Market Cap (M Riyal)	330.00
Enterprise Value (EV) (M)	324.02
Shares Outstanding ((M))	5.00
Book Value (BV) ( Riyal)	11.62
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	More than 100
Price/book	5.68

Natural Gas Distribution Co. (NGDC)

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NGDC posts 33% profit leap to SAR 3.3 mln in 2022

View other reports

Financials (M)

Current Half Annual Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Financial Ratios

Share Price

Natural Gas Distribution Co. (NGDC)

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NGDC posts 33% profit leap to SAR 3.3 mln in 2022

View other reports

Financials (M)

Current Half Annual Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Financial Ratios

Share Price

Natural Gas Distribution Co. (NGDC)

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