NGDC 2023 net profit up 14% to SAR 3.8M

NGDC 2023 net profit up 14% to SAR 3.8M

28/03/2024 Argaam Exclusive

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Natural Gas Distribution Co. (NGDC) reported a 14% net profit increase to SAR 3.8 million in 2023, compared to SAR 3.3 million a year earlier.



Financials (M)

Item 2022 2023 Change‬
Revenues 91.01 92.49 1.6 %
Gross Income 7.97 8.78 10.1 %
Operating Income 3.14 2.92 (7.1 %)
Net Income 3.29 3.77 14.4 %
Average Shares 5.00 5.00 -
EPS (Riyals) 0.66 0.75 14.4 %


Current Half Annual Comparison (M)

Compared With The
Item H2 2022 H2 2023 Change‬
Revenues 47.76 44.81 (6.2 %)
Gross Income 4.58 4.28 (6.6 %)
Operating Income 2.17 1.44 (33.8 %)
Net Income 2.36 1.98 (15.9 %)
Average Shares 5.00 5.00 -
EPS (Riyals) 0.47 0.40 (15.9 %)

The company’s higher revenue was attributed to the contract to operate and maintain the gas network in King Abdullah Economic City, in addition to the rollout of internal gas networks to some new customers. Additionally, the company also cited higher returns from Islamic deposits.

 

Total shareholders’ equity, no minority interest, stood at SAR 58.09 million by Dec. 31, 2023, compared to SAR 56.98 million a year ago.

View more financial results

 


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 44.49 - 4.81 - 2.52 -
H2 2020 44.76 - 4.74 - 2.17 -
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 %)
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 %
H1 2023 47.68 10.2 % 4.50 32.8 % 1.48 52.6 %
H2 2023 44.81 (6.2 %) 4.28 (6.6 %) 1.44 (33.8 %)
2023 92.49 1.6 % 8.78 10.1 % 2.92 (7.1 %)


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 2.49 - 0.50 - 2.49 0.50
H2 2020 1.94 - 0.39 - 1.94 0.39
H1 2021 1.23 (50.6 %) 0.25 - 1.23 0.25
H2 2021 1.25 (35.3 %) 0.25 - 1.25 0.25
H1 2022 0.93 (24.3 %) 0.19 - 0.93 0.19
H2 2022 2.36 88.5 % 0.47 - 2.36 0.47
H1 2023 1.78 91.5 % 0.36 - 1.78 0.36
H2 2023 1.98 (15.9 %) 0.40 - 1.98 0.40
2023 3.77 14.4 % 0.75 - 3.77 0.75

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 10.70 % 10.49 % 4.96 %
H1 2021 10.10 % 9.48 % 3.53 %
H2 2021 9.41 % 9.50 % 2.77 %
H1 2022 8.53 % 10.20 % 2.48 %
H2 2022 8.75 % 10.55 % 3.62 %
H1 2023 9.51 % 9.91 % 4.34 %
H2 2023 9.49 % 9.12 % 4.07 %
2023 9.49 % 9.12 % 4.07 %


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 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
H1 2023 5.00 0.83 0.83 11.25
H2 2023 5.00 0.75 0.75 11.62

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 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
H1 2023 67.61 67.61 4.98
H2 2023 55.50 55.50 3.60


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
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Share Price

Natural Gas Distribution Co.
66.00
10.00 17.86 %

Natural Gas Distribution Co. (NGDC)

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