NGDC posts 92% leap in H1 2023 profit to SAR 1.8 mln

NGDC posts 92% leap in H1 2023 profit to SAR 1.8 mln

04/09/2023 Argaam Exclusive

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Natural Gas Distribution Co. (NGDC) posted a leap of 92% in H1 2023 net profit to SAR 1.8 million, compared to SAR 930,000 in the year-earlier period.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 43.25 47.68 10.2 %
Gross Income 3.39 4.50 32.8 %
Operating Income 0.97 1.48 52.6 %
Net Income 0.93 1.78 91.5 %
Average Shares 5.00 5.00 -
EPS (Riyals) 0.19 0.36 91.5 %

The profit growth was due to higher revenues on an increase in natural gas consumption by the company’s customers, as well as lower operational consumption on the completion of depreciation of some gas network assets and the first natural gas network by the end of 2022.

 

Shareholders equity, no minority interest, came in at SAR 56.26 million as of June 30, 2023, up from SAR 54.61 million a year earlier.



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 43.25 47.68 10.2 %
Gross Income 3.39 4.50 32.8 %
Operating Income 0.97 1.48 52.6 %
Net Income 0.93 1.78 91.5 %
Average Shares 5.00 5.00 -
EPS (Riyals) 0.19 0.36 91.5 %

Historical Data 

Period  

Revenue 

(SAR mln)  

Net Profit 

(SAR mln)   

EPS 

(SAR)  

H1 2020 

44.49

2.49

0.50

H2 2020 

44.76

1.93

0.38

H1 2021  

44.93

1.23

0.25

H2 2021  

44.66

1.25

0.25

H1 2022  

43.25

0.93

0.19

H2 2022  

47.76

2.36

0.47

H1 2023  

46.68

1.78

0.36

 

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 %


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

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 %


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

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


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
more

Share Price

Natural Gas Distribution Co.
66.00
10.00 17.86 %

Natural Gas Distribution Co. (NGDC)

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