MEPCO turns to SAR 90.3M loss in 2023; Q4 at SAR 45.7M

30/03/2024 Argaam Exclusive

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Middle East Paper Co. (MEPCO) swung to a net loss of SAR 90.3 million for 2023, against a net profit of SAR 269.7 million a year earlier.

Financials (M)

Item	2022	2023	Change‬
Revenues	1,187.01	866.75	(27.0 %)
Gross Income	502.79	85.00	(83.1 %)
Operating Income	307.13	(55.00)	(117.9 %)
Net Income	269.70	(80.27)	(129.8 %)
Average Shares	66.67	66.67	0.0 %
EPS (Riyals)	4.05	(1.20)	(129.8 %)

Revenues dropped 27% year-on-year (YoY) on lower selling prices, and gross profit margins fell from 42% in 2022 to 10% in 2023.

In addition, cost of sales increases due to higher sales volume and higher costs of energy, maintenance and employees related to Juthor.

Gross profit also fell by 83% YoY on lower selling prices and higher cost of sales. Moreover, cost of financing increased by SAR 8 million on higher SAIBOR rate for Murabaha loans.

The company also turned to losses of SAR 35.70 million in Q4 2023, against earnings of SAR 24.79 million a year earlier.

Compared with the previous quarter, the three-month losses increased from SAR 17.85 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2022	Q4 2023	Change‬
Revenues	231.52	224.26	(3.1 %)
Gross Income	77.17	2.94	(96.2 %)
Operating Income	15.85	(26.69)	(268.4 %)
Net Income	24.79	(35.70)	(244.0 %)
Average Shares	66.67	66.67	0.0 %
EPS (Riyals)	0.37	(0.54)	(244.0 %)

Item	Q3 2023	Q4 2023	Change‬
Revenues	229.18	224.26	(2.1 %)
Gross Income	23.89	2.94	(87.7 %)
Operating Income	(10.42)	(26.69)	(156.1 %)
Net Income	(20.29)	(35.70)	(75.9 %)
Average Shares	66.67	66.67	-
EPS (Riyals)	(0.30)	(0.54)	(75.9 %)

Shareholders’ equity, after minority interest, reached SAR 1.07 billion as of Dec. 31, 2023, compared to SAR 1.18 billion in the prior-year period.

Attached Document:

View more financial results

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2014	200.96	14.3 %	52.97	28.3 %	29.65	44.0 %
Q2 2014	203.05	3.9 %	59.04	16.7 %	36.78	24.4 %
Q3 2014	219.60	9.5 %	68.98	12.7 %	43.91	5.3 %
Q4 2014	202.50	7.5 %	53.41	5.1 %	31.88	(2.7 %)
2014	826.43	8.7 %	234.71	15.1 %	141.99	13.9 %
Q1 2015	184.71	(8.1 %)	47.14	(11.0 %)	28.15	(5.1 %)
Q2 2015	184.14	(9.3 %)	48.17	(18.4 %)	26.28	(28.5 %)
Q3 2015	172.83	(21.3 %)	41.85	(39.3 %)	16.89	(61.5 %)
Q4 2015	139.50	(31.1 %)	35.70	(33.2 %)	10.55	(66.9 %)
2015	681.17	(17.6 %)	172.86	(26.4 %)	81.87	(42.3 %)
Q1 2016	176.54	(4.4 %)	48.80	3.5 %	24.52	(12.9 %)
Q2 2016	164.82	(10.5 %)	28.37	(41.1 %)	3.01	(88.6 %)
Q3 2016	148.13	(14.3 %)	28.76	(31.3 %)	6.28	(62.8 %)
Q4 2016	144.91	3.9 %	25.36	(29.0 %)	(1.29)	(112.2 %)
2016	634.41	(6.9 %)	131.28	(24.1 %)	32.52	(60.3 %)
Q1 2017	166.50	(5.7 %)	31.67	(35.1 %)	11.07	(54.9 %)
Q2 2017	186.72	13.3 %	45.42	60.1 %	25.51	749.0 %
Q3 2017	212.74	43.6 %	55.30	92.3 %	27.92	344.4 %
Q4 2017	205.05	41.5 %	53.72	111.9 %	30.89	2494.7 %
2017	771.01	21.5 %	186.11	41.8 %	95.39	193.3 %
Q1 2018	225.01	35.1 %	62.10	96.1 %	35.34	219.3 %
Q2 2018	218.57	17.1 %	63.12	39.0 %	35.88	40.6 %
Q3 2018	215.59	1.3 %	65.08	17.7 %	38.85	39.1 %
Q4 2018	174.44	(14.9 %)	45.37	(15.5 %)	19.79	(35.9 %)
2018	833.61	8.1 %	235.67	26.6 %	129.85	36.1 %
Q1 2019	181.84	(19.2 %)	39.33	(36.7 %)	13.17	(62.7 %)
Q2 2019	176.09	(19.4 %)	33.11	(47.5 %)	3.16	(91.2 %)
Q3 2019	180.67	(16.2 %)	39.27	(39.7 %)	9.33	(76.0 %)
Q4 2019	152.48	(12.6 %)	30.00	(33.9 %)	3.96	(80.0 %)
2019	691.08	(17.1 %)	141.71	(39.9 %)	29.62	(77.2 %)
Q1 2020	173.87	(4.4 %)	35.61	(9.4 %)	10.59	(19.6 %)
Q2 2020	193.62	10.0 %	44.77	35.2 %	17.80	462.6 %
Q3 2020	167.48	(7.3 %)	25.22	(35.8 %)	3.73	(60.0 %)
Q4 2020	189.72	24.4 %	37.65	25.5 %	11.36	186.8 %
2020	724.69	4.9 %	143.25	1.1 %	43.48	46.8 %
Q1 2021	200.51	15.3 %	48.01	34.8 %	18.03	70.2 %
Q2 2021	250.45	29.4 %	83.29	86.0 %	49.34	177.2 %
Q3 2021	279.48	66.9 %	115.94	359.8 %	71.29	1811.9 %
Q4 2021	326.95	72.3 %	146.86	290.1 %	90.10	693.4 %
2021	1,057.40	45.9 %	394.10	175.1 %	228.76	426.2 %
Q1 2022	305.02	52.1 %	143.16	198.2 %	104.65	480.6 %
Q2 2022	346.95	38.5 %	160.56	92.8 %	110.89	124.7 %
Q3 2022	303.52	8.6 %	121.91	5.1 %	75.75	6.2 %
Q4 2022	231.52	(29.2 %)	77.17	(47.5 %)	15.85	(82.4 %)
2022	1,187.01	12.3 %	502.79	27.6 %	307.13	34.3 %
Q1 2023	223.95	(26.6 %)	35.29	(75.3 %)	(2.41)	(102.3 %)
Q2 2023	189.37	(45.4 %)	22.87	(85.8 %)	(12.09)	(110.9 %)
Q3 2023	229.18	(24.5 %)	23.89	(80.4 %)	(10.42)	(113.8 %)
Q4 2023	224.26	(3.1 %)	2.94	(96.2 %)	(26.69)	(268.4 %)
2023	866.75	(27.0 %)	85.00	(83.1 %)	(55.00)	(117.9 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	826.43	8.7 %	234.71	15.1 %	141.99	13.9 %
2015	681.17	(17.6 %)	172.86	(26.4 %)	81.87	(42.3 %)
2016	634.41	(6.9 %)	131.28	(24.1 %)	32.52	(60.3 %)
2017	771.01	21.5 %	186.11	41.8 %	95.39	193.3 %
2018	833.61	8.1 %	235.67	26.6 %	129.85	36.1 %
2019	691.08	(17.1 %)	141.71	(39.9 %)	29.62	(77.2 %)
2020	724.69	4.9 %	143.25	1.1 %	43.48	46.8 %
2021	1,057.40	45.9 %	394.10	175.1 %	228.76	426.2 %
2022	1,187.01	12.3 %	502.79	27.6 %	307.13	34.3 %
2023	866.75	(27.0 %)	85.00	(83.1 %)	(55.00)	(117.9 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2014	22.83	102.7 %	0.34	-	22.83	0.34
Q2 2014	29.26	28.6 %	0.44	-	29.26	0.44
Q3 2014	36.35	15.4 %	0.55	-	36.35	0.55
Q4 2014	22.91	1.5 %	0.34	-	22.91	0.34
2014	111.34	26.4 %	1.67	-	111.34	1.67
Q1 2015	23.20	1.6 %	0.35	-	23.20	0.35
Q2 2015	19.57	(33.1 %)	0.29	-	19.57	0.29
Q3 2015	9.58	(73.6 %)	0.14	-	9.58	0.14
Q4 2015	2.77	(87.9 %)	0.04	-	2.77	0.04
2015	55.12	(50.5 %)	0.83	-	55.12	0.83
Q1 2016	16.78	(27.7 %)	0.25	-	16.78	0.25
Q2 2016	88.31	351.3 %	1.32	91.96	(3.65)	(0.05)
Q3 2016	2.28	(76.2 %)	0.03	-	2.28	0.03
Q4 2016	(12.46)	(550.0 %)	(0.19)	-	(12.46)	(0.19)
2016	94.91	72.2 %	1.42	91.96	2.94	0.04
Q1 2017	3.25	(80.6 %)	0.05	-	3.25	0.05
Q2 2017	18.18	(79.4 %)	0.27	-	18.18	0.27
Q3 2017	22.22	873.6 %	0.33	-	22.22	0.33
Q4 2017	24.49	296.4 %	0.37	-	24.49	0.37
2017	68.13	(28.2 %)	1.02	-	68.13	1.02
Q1 2018	28.08	763.1 %	0.42	-	28.08	0.42
Q2 2018	28.92	59.1 %	0.43	-	28.92	0.43
Q3 2018	30.17	35.8 %	0.45	-	30.17	0.45
Q4 2018	12.29	(49.8 %)	0.18	-	12.29	0.18
2018	99.44	46.0 %	1.49	-	99.44	1.49
Q1 2019	5.78	(79.4 %)	0.09	-	5.78	0.09
Q2 2019	(4.03)	(113.9 %)	(0.06)	-	(4.03)	(0.06)
Q3 2019	0.86	(97.2 %)	0.01	-	0.86	0.01
Q4 2019	3.52	(71.4 %)	0.05	-	3.52	0.05
2019	6.13	(93.8 %)	0.09	-	6.13	0.09
Q1 2020	4.12	(28.7 %)	0.06	-	4.12	0.06
Q2 2020	11.44	383.9 %	0.17	-	11.44	0.17
Q3 2020	0.38	(55.4 %)	0.01	-	0.38	0.01
Q4 2020	4.43	25.9 %	0.07	-	4.43	0.07
2020	20.37	232.4 %	0.31	-	20.37	0.31
Q1 2021	17.72	329.7 %	0.27	2.40	15.32	0.23
Q2 2021	43.09	276.6 %	0.65	-	43.09	0.65
Q3 2021	65.04	16882.8 %	0.98	(0.30)	65.34	0.98
Q4 2021	94.86	2043.7 %	1.42	9.39	85.47	1.28
2021	220.71	983.4 %	3.31	11.49	209.22	3.14
Q1 2022	92.39	421.3 %	1.39	(2.00)	94.39	1.42
Q2 2022	98.60	128.8 %	1.48	-	98.60	1.48
Q3 2022	53.93	(17.1 %)	0.81	-	53.93	0.81
Q4 2022	24.79	(73.9 %)	0.37	-	24.79	0.37
2022	269.70	22.2 %	4.05	(2.00)	271.70	4.08
Q1 2023	(6.56)	(107.1 %)	(0.10)	1.80	(8.35)	(0.13)
Q2 2023	(20.17)	(120.5 %)	(0.30)	(5.00)	(15.17)	(0.23)
Q3 2023	(20.29)	(137.6 %)	(0.30)	-	(20.29)	(0.30)
Q4 2023	(35.70)	(244.0 %)	(0.54)	-	(35.70)	(0.54)
2023	(80.27)	(129.8 %)	(1.20)	(3.21)	(77.06)	(1.16)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	111.34	26.4 %	1.67	-	111.34	1.67
2015	55.12	(50.5 %)	0.83	-	55.12	0.83
2016	94.91	72.2 %	1.42	91.96	2.94	0.04
2017	68.13	(28.2 %)	1.02	-	68.13	1.02
2018	99.44	46.0 %	1.49	-	99.44	1.49
2019	6.13	(93.8 %)	0.09	-	6.13	0.09
2020	20.37	232.4 %	0.31	-	20.37	0.31
2021	220.71	983.4 %	3.31	11.49	209.22	3.14
2022	269.70	22.2 %	4.05	(2.00)	271.70	4.08
2023	(80.27)	(129.8 %)	(1.20)	(3.21)	(77.06)	(1.16)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	27.46 %	27.05 %	12.69 %
Q2 2014	28.26 %	28.06 %	13.39 %
Q3 2014	28.55 %	28.01 %	13.67 %
Q4 2014	28.37 %	27.86 %	13.48 %
2014	28.40 %	27.82 %	13.47 %
Q1 2015	28.22 %	28.65 %	13.79 %
Q2 2015	27.52 %	28.28 %	12.90 %
Q3 2015	25.61 %	26.90 %	10.11 %
Q4 2015	25.38 %	26.78 %	8.09 %
2015	25.38 %	26.78 %	8.09 %
Q1 2016	25.93 %	25.91 %	7.23 %
Q2 2016	23.67 %	22.33 %	3.90 %
Q3 2016	22.52 %	20.72 %	2.89 %
Q4 2016	20.69 %	17.73 %	0.46 %
2016	20.69 %	17.73 %	0.46 %
Q1 2017	18.28 %	16.26 %	(1.69 %)
Q2 2017	20.30 %	19.74 %	1.74 %
Q3 2017	22.19 %	21.31 %	4.39 %
Q4 2017	24.14 %	24.13 %	8.84 %
2017	24.14 %	24.13 %	8.84 %
Q1 2018	26.10 %	25.32 %	11.21 %
Q2 2018	27.19 %	25.45 %	12.04 %
Q3 2018	28.24 %	26.54 %	12.92 %
Q4 2018	28.27 %	25.99 %	11.93 %
2018	28.27 %	25.99 %	11.93 %
Q1 2019	26.93 %	24.90 %	9.76 %
Q2 2019	24.45 %	22.24 %	5.91 %
Q3 2019	22.03 %	19.44 %	2.09 %
Q4 2019	20.51 %	18.15 %	0.89 %
2019	20.51 %	18.15 %	0.89 %
Q1 2020	20.20 %	18.30 %	0.65 %
Q2 2020	21.36 %	20.35 %	2.85 %
Q3 2020	19.73 %	20.35 %	2.83 %
Q4 2020	19.77 %	20.61 %	2.81 %
2020	19.77 %	20.61 %	2.81 %
Q1 2021	20.72 %	21.01 %	4.20 %
Q2 2021	24.03 %	23.09 %	7.82 %
Q3 2021	30.96 %	27.33 %	13.93 %
Q4 2021	37.27 %	31.02 %	19.79 %
2021	37.27 %	31.02 %	19.79 %
Q1 2022	42.11 %	35.47 %	24.81 %
Q2 2022	45.02 %	37.66 %	27.32 %
Q3 2022	44.64 %	37.34 %	25.92 %
Q4 2022	42.36 %	34.33 %	22.89 %
2022	42.36 %	34.33 %	22.89 %
Q1 2023	35.71 %	27.14 %	15.28 %
Q2 2023	27.12 %	18.80 %	5.82 %
Q3 2023	18.22 %	10.80 %	(2.18 %)
Q4 2023	9.81 %	5.94 %	(9.17 %)
2023	9.81 %	5.55 %	(8.89 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	28.40 %	27.82 %	13.47 %
2015	25.38 %	26.78 %	8.09 %
2016	20.69 %	17.73 %	0.46 %
2017	24.14 %	24.13 %	8.84 %
2018	28.27 %	25.99 %	11.93 %
2019	20.51 %	18.15 %	0.89 %
2020	19.77 %	20.61 %	2.81 %
2021	37.27 %	31.02 %	19.79 %
2022	42.36 %	34.33 %	22.89 %
2023	9.81 %	5.55 %	(8.89 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	26.36 %	24.92 %	11.36 %
Q2 2014	29.08 %	28.99 %	14.41 %
Q3 2014	31.41 %	30.06 %	16.55 %
Q4 2014	26.38 %	27.25 %	11.31 %
Q1 2015	25.52 %	28.12 %	12.56 %
Q2 2015	26.16 %	27.47 %	10.63 %
Q3 2015	24.21 %	24.58 %	5.54 %
Q4 2015	25.59 %	26.81 %	1.99 %
Q1 2016	27.64 %	24.86 %	9.50 %
Q2 2016	17.21 %	13.48 %	(2.21 %)
Q3 2016	19.41 %	18.12 %	1.54 %
Q4 2016	17.50 %	13.50 %	(8.60 %)
Q1 2017	19.02 %	19.77 %	1.95 %
Q2 2017	24.32 %	25.85 %	9.73 %
Q3 2017	26.00 %	23.84 %	10.44 %
Q4 2017	26.20 %	26.41 %	11.94 %
Q1 2018	27.60 %	25.29 %	12.48 %
Q2 2018	28.88 %	26.28 %	13.23 %
Q3 2018	30.19 %	28.22 %	13.99 %
Q4 2018	26.01 %	23.77 %	7.04 %
Q1 2019	21.63 %	20.39 %	3.18 %
Q2 2019	18.81 %	15.32 %	(2.29 %)
Q3 2019	21.74 %	18.32 %	0.47 %
Q4 2019	19.67 %	18.57 %	2.31 %
Q1 2020	20.48 %	21.07 %	2.37 %
Q2 2020	23.12 %	22.99 %	5.91 %
Q3 2020	15.06 %	18.14 %	0.23 %
Q4 2020	19.84 %	19.94 %	2.33 %
Q1 2021	23.94 %	22.48 %	7.64 %
Q2 2021	33.26 %	29.28 %	17.20 %
Q3 2021	41.48 %	34.08 %	23.38 %
Q4 2021	44.92 %	34.96 %	26.14 %
Q1 2022	46.93 %	42.36 %	30.94 %
Q2 2022	46.28 %	38.95 %	28.42 %
Q3 2022	40.16 %	33.01 %	17.77 %
Q4 2022	33.33 %	18.56 %	10.71 %
Q1 2023	15.76 %	9.77 %	(3.73 %)
Q2 2023	12.08 %	6.97 %	(8.01 %)
Q3 2023	10.42 %	7.15 %	(8.85 %)
Q4 2023	1.31 %	0.03 %	(15.92 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2014	66.67	1.49	1.49	8.33
Q2 2014	66.67	1.59	1.59	8.15
Q3 2014	66.67	1.66	1.66	8.70
Q4 2014	66.67	1.67	1.67	9.04
Q1 2015	66.67	1.68	1.68	9.39
Q2 2015	66.67	1.53	1.53	9.68
Q3 2015	66.67	1.13	1.13	9.83
Q4 2015	66.67	0.83	0.83	9.87
Q1 2016	66.67	0.73	0.73	9.62
Q2 2016	66.67	1.76	0.38	10.57
Q3 2016	66.67	1.65	0.27	10.59
Q4 2016	66.67	1.42	0.04	10.40
Q1 2017	66.67	1.22	(0.16)	10.45
Q2 2017	66.67	0.17	0.17	10.16
Q3 2017	66.67	0.47	0.47	10.49
Q4 2017	66.67	1.02	1.02	10.84
Q1 2018	66.67	1.39	1.39	11.26
Q2 2018	66.67	1.56	1.56	11.03
Q3 2018	66.67	1.67	1.67	11.48
Q4 2018	66.67	1.49	1.49	11.27
Q1 2019	66.67	1.16	1.16	10.98
Q2 2019	66.67	0.66	0.66	10.92
Q3 2019	66.67	0.22	0.22	10.93
Q4 2019	66.67	0.09	0.09	10.97
Q1 2020	66.67	0.07	0.07	11.03
Q2 2020	66.67	0.30	0.30	11.20
Q3 2020	66.67	0.29	0.29	11.21
Q4 2020	66.67	0.31	0.31	11.28
Q1 2021	66.67	0.51	0.47	11.55
Q2 2021	66.67	0.98	0.95	12.19
Q3 2021	66.67	1.95	1.92	13.32
Q4 2021	66.67	3.31	3.14	14.74
Q1 2022	66.67	4.43	4.32	16.13
Q2 2022	66.67	5.26	5.16	16.84
Q3 2022	66.67	5.10	4.99	17.65
Q4 2022	66.67	4.05	4.08	17.72
Q1 2023	66.67	2.56	2.53	17.62
Q2 2023	66.67	0.78	0.83	16.89
Q3 2023	66.67	(0.33)	(0.29)	16.62
Q4 2023	66.67	(1.24)	(1.19)	16.11

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	66.67	1.67	1.67	9.04
2015	66.67	0.83	0.83	9.87
2016	66.67	1.42	0.04	10.40
2017	66.67	1.02	1.02	10.84
2018	66.67	1.49	1.49	11.27
2019	66.67	0.09	0.09	10.97
2020	66.67	0.31	0.31	11.28
2021	66.67	3.31	3.14	14.74
2022	66.67	4.05	4.08	17.72
2023	66.67	(1.20)	(1.16)	16.11

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
Q1 2015	-	-	-
Q2 2015	26.14	26.14	4.13
Q3 2015	25.29	25.29	2.90
Q4 2015	30.07	30.07	2.52
Q1 2016	24.74	24.74	1.88
Q2 2016	10.23	47.15	1.71
Q3 2016	8.19	49.60	1.28
Q4 2016	11.33	More than 100	1.55
Q1 2017	13.51	NEG	1.58
Q2 2017	82.07	82.07	1.36
Q3 2017	35.31	35.31	1.57
Q4 2017	18.43	18.43	1.74
Q1 2018	17.27	17.27	2.14
Q2 2018	15.70	15.70	2.22
Q3 2018	12.80	12.80	1.87
Q4 2018	13.06	13.06	1.73
Q1 2019	16.04	16.04	1.69
Q2 2019	22.88	22.88	1.39
Q3 2019	58.38	58.38	1.19
Q4 2019	More than 100	More than 100	1.27
Q1 2020	More than 100	More than 100	1.02
Q2 2020	45.84	45.84	1.22
Q3 2020	62.66	62.66	1.63
Q4 2020	61.65	61.65	1.67
Q1 2021	45.92	49.42	2.03
Q2 2021	34.72	36.04	2.80
Q3 2021	21.13	21.48	3.10
Q4 2021	12.84	13.55	2.88
Q1 2022	12.76	13.08	3.51
Q2 2022	10.54	10.76	3.29
Q3 2022	10.35	10.58	2.99
Q4 2022	10.52	10.45	2.40
Q1 2023	15.94	16.11	2.32
Q2 2023	57.67	54.33	2.66
Q3 2023	NEG	NEG	2.54
Q4 2023	NEG	NEG	2.78

Period	P/E	Adjusted P/E	Price/book
2014	-	-	-
2015	30.07	30.07	2.52
2016	11.33	More than 100	1.55
2017	18.43	18.43	1.74
2018	13.06	13.06	1.73
2019	More than 100	More than 100	1.27
2020	61.65	61.65	1.67
2021	12.84	13.55	2.88
2022	10.52	10.45	2.40
2023	NEG	NEG	2.78

Business Segments (Million)

Compared With The

Period	The industrial sector	The commercial sector	Disposals
Q1 2014	189.39	64.27	(52.69)
Q2 2014	186.73	82.23	(65.90)
Q3 2014	204.13	83.05	(67.58)
Q4 2014	190.08	90.98	(78.55)
Q1 2015	149.78	73.94	(39.01)
Q2 2015	170.79	72.52	(59.17)
Q3 2015	171.60	59.18	(57.94)
Q4 2015	142.39	54.31	(57.21)
Q1 2016	167.90	61.40	(52.77)
Q2 2016	147.30	58.38	(40.87)
Q3 2016	137.14	62.02	(51.03)
Q4 2016	139.15	59.06	(53.30)
Q1 2017	150.79	75.52	(59.81)
Q2 2017	175.55	79.95	(68.78)
Q3 2017	204.74	81.55	(73.55)
Q4 2017	198.50	86.34	(79.79)
Q1 2018	219.22	72.35	(66.56)
Q2 2018	212.34	64.57	(58.34)
Q3 2018	210.95	82.60	(77.96)
Q4 2018	169.13	74.19	(68.87)
Q1 2019	176.27	70.97	(65.40)
Q2 2019	169.92	62.05	(55.89)
Q3 2019	174.70	50.16	(44.20)
Q4 2019	149.00	55.05	(51.56)
Q1 2020	170.43	42.64	(39.20)
Q2 2020	190.92	43.30	(40.59)
Q3 2020	163.84	51.27	(47.63)
Q4 2020	185.14	66.18	(61.60)
Q1 2021	193.98	90.52	(83.99)
Q2 2021	245.11	101.63	(96.29)
Q3 2021	274.41	102.62	(97.55)
Q4 2021	320.38	91.64	(85.07)
Q1 2022	297.18	89.21	(81.38)
Q2 2022	343.36	90.19	(86.60)
Q3 2022	299.04	93.22	(88.73)
Q4 2022	228.38	60.62	(57.48)
Q1 2023	219.72	73.73	(69.51)
Q2 2023	185.82	48.46	(44.91)
Q3 2023	224.39	51.68	(46.89)
Q4 2023	219.83	57.25	(52.82)

Period	The industrial sector	The commercial sector	Disposals
2014	770.32	320.84	(264.73)
2015	634.56	259.95	(213.34)
2016	591.50	240.87	(197.96)
2017	729.57	323.36	(281.92)
2018	811.64	293.70	(271.72)
2019	669.89	238.23	(217.04)
2020	710.33	203.38	(189.02)
2021	1,033.88	386.42	(362.90)
2022	1,167.96	333.24	(314.19)
2023	849.76	231.12	(214.13)

Financial Ratios

	Current
Market Cap (M Riyal)	3,310.79
Enterprise Value (EV) (M)	3,299.35
Shares Outstanding ((M))	86.67
EPS ( Riyal) (TTM)	(0.80)
Book Value (BV) ( Riyal)	19.07
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	NEG
Price/book	2.00
Return on Average Assets (%) (TTM)	(3.04 )
Return on Average Equity (%) (TTM)	(5.01 )

Middle East Paper Co. (MEPCO)

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MEPCO turns to SAR 90.3M loss in 2023; Q4 at SAR 45.7M

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Financials (M)

Current Quarter Comparison (M)

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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

Business Segments (Million)

Revenue by Business Segment (Latest) 2023 Q4

Financial Ratios

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Middle East Paper Co. (MEPCO)

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MEPCO turns to SAR 90.3M loss in 2023; Q4 at SAR 45.7M

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Financials (M)

Current Quarter 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

Business Segments (Million) Q4 2023

Revenue by Business Segment (Latest) 2023 Q4

Financial Ratios

Share Price

Middle East Paper Co. (MEPCO)

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Business Segments (Million)