Ash-Sharqiyah Development widens H1 2023 loss to SAR 2 mln; Q2 at SAR 1.2 mln

Ash-Sharqiyah Development widens H1 2023 loss to SAR 2 mln; Q2 at SAR 1.2 mln

10/08/2023 Argaam Exclusive

View other reports

Ash-Sharqiyah Development Co. increased H1 2023 net loss to SAR 2 million, compared to SAR 1 million in the year-earlier period.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Operating Income (1.64) (1.96) (19.2 %)
Net Income (1.01) (2.03) (102.3 %)
Average Shares 19.66 30.00 52.6 %
EPS (Riyals) (0.05) (0.07) (32.5 %)

This was due to a leap in finance costs (FCs) during the six-month period, as the company settled its financing dues, which resulted in recording additional bank interest. In addition, Ash-Sharqiyah recorded revenue from investment in other companies during H1 2022 but failed to record this revenue in the current period.

 

The Saudi-listed firm narrowed its Q2 2023 net loss to SAR 1.22 million, from SAR 410,000 a year ago, mainly due to higher FCs.

 

On a sequential basis, net loss increased from SAR 810,000 in Q1 2023.



Current Quarter Comparison (M)

Compared With The
Item Q2 2022 Q2 2023 Change‬
Operating Income (0.76) (1.16) (53.2 %)
Net Income (0.41) (1.22) (201.2 %)
Average Shares 19.66 30.00 52.6 %
EPS (Riyals) (0.02) (0.04) (97.4 %)

Total shareholders’ equity, no minority interest, stood at SAR 358.31 million by the end of H1 2023, compared to SAR 141.66 million in the prior-year period.

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2014 4.25 (18.5 %) (0.26) 85.7 % (1.54) 40.1 %
Q2 2014 4.36 (9.3 %) (0.38) (1,709.5 %) (1.43) (10.9 %)
Q3 2014 4.00 3.9 % 0.36 798.0 % (0.93) 38.7 %
Q4 2014 6.80 81.0 % 1.11 236.7 % (0.41) 82.9 %
Q1 2015 5.38 26.4 % 1.62 732.4 % 0.06 103.8 %
Q2 2015 6.06 38.9 % 2.70 809.5 % 0.51 135.6 %
Q3 2015 6.15 53.6 % 2.43 582.3 % 0.56 160.2 %
Q4 2015 5.70 (16.3 %) 1.66 49.0 % 0.57 237.1 %
Q1 2016 1.06 (80.2 %) (2.86) (276.8 %) (4.21) (7242.4 %)
Q2 2016 2.69 (55.6 %) (1.56) (158.0 %) (2.59) (610.7 %)
Q3 2016 2.30 (62.6 %) (1.40) (157.5 %) (2.41) (529.8 %)
Q4 2016 0.48 (91.5 %) (5.24) (415.8 %) (6.42) (1235.4 %)
Q1 2017 0.45 (57.7 %) (2.04) 28.8 % (3.08) 26.8 %
Q2 2017 0.40 (85.0 %) (2.04) (30.5 %) (2.89) (11.8 %)
Q3 2017 0.22 (90.6 %) (0.99) 29.2 % (2.13) 11.5 %
Q4 2017 0.45 (8.1 %) (0.94) 82.0 % (2.65) 58.7 %
Q1 2018 0.20 (54.7 %) (0.25) 87.5 % (1.84) 40.4 %
Q2 2018 0.13 (66.8 %) (0.25) 87.8 % (1.81) 37.6 %
Q3 2018 - - (0.28) 72.2 % (2.22) (4.0 %)
Q4 2018 - - (0.23) 75.9 % (1.34) 49.5 %
Q1 2019 - - (0.14) 44.5 % (0.71) 61.4 %
Q2 2019 - - (0.21) 17.3 % (0.72) 60.0 %
Q3 2019 - - (0.11) 60.4 % (0.62) 72.0 %
Q4 2019 - - (0.48) (111.5 %) (2.04) (53.0 %)
Q1 2020 - - (0.13) 7.1 % (0.50) 30.1 %
Q2 2020 - - (0.10) 50.5 % (0.53) 26.3 %
Q3 2020 - - (0.10) 5.5 % (0.74) (18.9 %)
Q4 2020 - - 0.31 163.8 % (0.83) 59.4 %
Q1 2021 - - (0.13) 1.5 % (0.52) (4.2 %)
Q2 2021 - - (0.13) (28.4 %) (2.82) (430.8 %)
Q3 2021 - - (0.13) (28.2 %) (0.75) (2.3 %)
Q4 2021 - - - - (0.69) 17.2 %
Q1 2022 - - - - (0.88) (70.2 %)
Q2 2022 - - - - (0.76) 73.1 %
Q3 2022 - - - - (0.60) 19.9 %
Q4 2022 - - - - (0.87) (26.5 %)
Q1 2023 0.00 - 0.00 - (0.79) 9.9 %
Q2 2023 0.00 - 0.00 - (1.16) (53.2 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2014 (1.53) 12.9 % (0.08) - (1.53) (0.08)
Q2 2014 (0.96) 29.2 % (0.05) - (0.96) (0.05)
Q3 2014 (0.20) 87.1 % (0.01) 0.19 (0.39) (0.02)
Q4 2014 0.22 122.8 % 0.01 0.53 (0.31) (0.02)
Q1 2015 0.67 144.0 % 0.03 0.56 0.11 0.01
Q2 2015 7.00 832.3 % 0.36 6.32 0.69 0.03
Q3 2015 0.56 386.7 % 0.03 - 0.56 0.03
Q4 2015 0.77 258.6 % 0.04 0.17 0.60 0.03
Q1 2016 (4.08) (704.9 %) (0.21) - (4.08) (0.21)
Q2 2016 (1.99) (128.4 %) (0.10) - (1.99) (0.10)
Q3 2016 (5.70) (1113.9 %) (0.29) (3.98) (1.72) (0.09)
Q4 2016 (5.70) (839.0 %) (0.29) - (5.70) (0.29)
Q1 2017 (3.60) 11.7 % (0.18) - (3.60) (0.18)
Q2 2017 (3.87) (94.8 %) (0.20) - (3.87) (0.20)
Q3 2017 (4.66) 18.1 % (0.24) - (4.66) (0.24)
Q4 2017 (4.67) 18.0 % (0.24) (7.40) 2.73 0.14
Q1 2018 (1.86) 48.3 % (0.09) - (1.86) (0.09)
Q2 2018 (1.66) 57.2 % (0.08) - (1.66) (0.08)
Q3 2018 (2.27) 51.4 % (0.12) - (2.27) (0.12)
Q4 2018 (0.93) 80.1 % (0.05) - (0.93) (0.05)
Q1 2019 (0.73) 60.8 % (0.04) - (0.73) (0.04)
Q2 2019 (0.72) 56.6 % (0.04) - (0.72) (0.04)
Q3 2019 (0.89) 60.7 % (0.05) - (0.89) (0.05)
Q4 2019 (65.13) (6,903.7 %) (3.31) (63.37) (1.76) (0.09)
Q1 2020 (0.51) 30.0 % (0.03) - (0.51) (0.03)
Q2 2020 (0.50) 29.9 % (0.03) - (0.50) (0.03)
Q3 2020 (0.42) 52.7 % (0.02) - (0.42) (0.02)
Q4 2020 (0.77) 98.8 % (0.04) - (0.77) (0.04)
Q1 2021 (0.31) 38.4 % (0.02) - (0.31) (0.02)
Q2 2021 (2.43) (382.1 %) (0.12) - (2.43) (0.12)
Q3 2021 (0.76) (80.3 %) (0.04) - (0.76) (0.04)
Q4 2021 3.27 525.1 % 0.17 - 3.27 0.17
Q1 2022 (0.60) (91.4 %) (0.03) - (0.60) (0.03)
Q2 2022 (0.41) 83.3 % (0.02) - (0.41) (0.02)
Q3 2022 (0.74) 3.0 % (0.04) - (0.74) (0.04)
Q4 2022 (1.46) (144.6 %) (0.07) - (1.46) (0.07)
Q1 2023 (0.81) (35.3 %) (0.05) - (0.81) (0.05)
Q2 2023 (1.22) (201.2 %) (0.04) - (1.22) (0.04)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2014 (6.86 %) 13.52 % (27.51 %)
Q2 2014 (9.26 %) 16.90 % (26.28 %)
Q3 2014 (6.69 %) 6.58 % (19.15 %)
Q4 2014 4.29 % 19.21 % (16.44 %)
Q1 2015 13.19 % 24.91 % (7.55 %)
Q2 2015 26.01 % 31.22 % 0.41 %
Q3 2015 32.23 % 39.77 % 4.28 %
Q4 2015 36.11 % 43.07 % 8.40 %
Q1 2016 20.69 % 28.17 % (11.77 %)
Q2 2016 (2.16 %) 7.03 % (31.44 %)
Q3 2016 (35.43 %) (10.38 %) (61.16 %)
Q4 2016 (169.28 %) (186.32 %) (206.23 %)
Q1 2017 (172.90 %) (192.99 %) (219.53 %)
Q2 2017 (294.61 %) (325.48 %) (409.15 %)
Q3 2017 (663.45 %) (870.98 %) (1147.23 %)
Q4 2017 (396.63 %) (490.63 %) (620.46 %)
Q1 2018 (333.02 %) (537.67 %) (603.70 %)
Q2 2018 (243.64 %) (599.10 %) (545.65 %)
Q3 2018 (219.67 %) (855.43 %) (390.04 %)
Q4 2018 (297.34 %) (1700.30 %) (1986.39 %)
Q1 2019 (665.67 %) (3543.28 %) (4166.42 %)
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 - - -
Q3 2022 - - -
Q4 2022 - - -
Q1 2023 - - -
Q2 2023 - - -


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2014 19.65 (0.27) (0.23) 3.05
Q2 2014 19.65 (0.25) (0.22) 3.00
Q3 2014 19.65 (0.18) (0.16) 2.99
Q4 2014 19.65 (0.13) (0.16) 3.00
Q1 2015 19.65 (0.01) (0.08) 3.03
Q2 2015 19.65 0.39 0.00 3.39
Q3 2015 19.65 0.43 0.05 3.42
Q4 2015 19.65 0.46 0.10 3.45
Q1 2016 19.65 0.22 (0.11) 3.28
Q2 2016 19.65 (0.24) (0.25) 1.53
Q3 2016 19.65 (0.56) (0.37) 1.45
Q4 2016 19.65 (0.89) (0.69) 11.99
Q1 2017 19.65 (0.86) (0.66) 11.83
Q2 2017 19.65 (0.96) (0.76) 11.63
Q3 2017 19.65 (0.91) (0.91) 11.39
Q4 2017 19.65 (0.85) (0.48) 11.17
Q1 2018 19.65 (0.77) (0.39) 11.07
Q2 2018 19.65 (0.65) (0.28) 10.99
Q3 2018 19.65 (0.53) (0.16) 10.87
Q4 2018 19.65 (0.34) (0.34) 10.83
Q1 2019 19.65 (0.28) (0.28) 10.79
Q2 2019 19.65 (0.24) (0.24) 10.75
Q3 2019 19.65 (0.17) (0.17) 10.71
Q4 2019 19.65 (3.43) (0.21) 7.39
Q1 2020 19.65 (3.42) (0.20) 7.37
Q2 2020 19.65 (3.41) (0.19) 7.34
Q3 2020 19.65 (3.39) (0.16) 7.32
Q4 2020 19.65 (0.11) (0.11) 7.28
Q1 2021 19.65 (0.10) (0.10) 7.26
Q2 2021 19.65 (0.20) (0.20) 7.14
Q3 2021 19.65 (0.22) (0.22) 7.10
Q4 2021 19.65 (0.01) (0.01) 7.26
Q1 2022 19.66 (0.03) (0.03) 7.23
Q2 2022 19.66 0.08 0.08 7.21
Q3 2022 19.66 0.08 0.08 7.17
Q4 2022 19.66 (0.16) (0.16) 7.08
Q1 2023 16.75 (0.20) (0.20) 8.26
Q2 2023 30.00 (0.14) (0.14) 11.94

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2014 NEG NEG 12.20
Q2 2014 NEG NEG 15.45
Q3 2014 NEG NEG 21.44
Q4 2014 NEG NEG 14.15
Q1 2015 NEG NEG 13.54
Q2 2015 More than 100 More than 100 13.72
Q3 2015 75.71 More than 100 9.53
Q4 2015 70.10 More than 100 9.30
Q1 2016 More than 100 NEG 7.24
Q2 2016 NEG NEG 14.48
Q3 2016 NEG NEG 10.86
Q4 2016 NEG NEG 2.15
Q1 2017 NEG NEG 1.84
Q2 2017 NEG NEG 1.86
Q3 2017 NEG NEG 2.57
Q4 2017 NEG NEG 2.40
Q1 2018 NEG NEG 2.34
Q2 2018 NEG NEG 2.97
Q3 2018 NEG NEG 2.55
Q4 2018 NEG NEG 2.80
Q1 2019 NEG NEG 2.65
Q2 2019 NEG NEG 2.47
Q3 2019 NEG NEG 2.32
Q4 2019 NEG NEG 4.05
Q1 2020 NEG NEG 4.11
Q2 2020 NEG NEG 5.32
Q3 2020 NEG NEG 7.22
Q4 2020 NEG NEG 7.59
Q1 2021 NEG NEG 8.75
Q2 2021 NEG NEG 8.54
Q3 2021 NEG NEG 8.82
Q4 2021 NEG NEG 7.59
Q1 2022 NEG NEG 8.00
Q2 2022 More than 100 More than 100 5.58
Q3 2022 More than 100 More than 100 5.40
Q4 2022 NEG NEG 4.07
Q1 2023 NEG NEG 4.75
Q2 2023 NEG NEG 1.78


Financial Ratios
Current
Market Cap (M Riyal) 575.40
Enterprise Value (EV) (M) 397.85
Shares Outstanding ((M)) 30.00
EPS ( Riyal) (TTM) 0.35
Book Value (BV) ( Riyal) 12.49
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 1.54
Return on Average Assets (%) (TTM) 2.5
Return on Average Equity (%) (TTM) 2.9
more

Share Price

Ash-Sharqiyah Development Co.
19.18
(0.12) (0.62 %)

Ash-Sharqiyah Development Co. (SHARQIYAH DEV)

More

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.