Riyadh Cables Q1 2023 net profit rises 47% to SAR 124.9 mln

07/05/2023 Argaam Exclusive

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Riyadh Cables Group Co. reported a net profit of SAR 124.9 million in Q1 2023, up 47% from SAR 85 million in the year earlier period, spurred by a 24.1% higher sales revenue on a 44% increase in gross profit.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2022	Q1 2023	Change‬
Revenues	1,561.18	1,937.28	24.1 %
Gross Income	151.85	218.74	44.0 %
Operating Income	101.57	167.61	65.0 %
Net Income	85.01	124.92	46.9 %
Average Shares	150.00	150.00	-
EPS (Riyals)	0.57	0.83	46.9 %

Item	Q4 2022	Q1 2023	Change‬
Revenues	1,830.72	1,937.28	5.8 %
Gross Income	189.59	218.74	15.4 %
Operating Income	142.16	167.61	17.9 %
Net Income	106.32	124.92	17.5 %
Average Shares	150.00	150.00	-
EPS (Riyals)	0.71	0.83	17.5 %

On a sequential basis, net earnings grew 17.5% from SAR 106.32 million in Q4 2022, due to a 5.8% increase in sales revenue on an 18.6% higher gross profit.

Total shareholders’ equity, after minority interest, stood at SAR 2.26 billion as of March 31, 2023, compared to SAR 2.11 billion in the prior-year period.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2014	-	-	-	-	-	-
Q2 2014	-	-	-	-	-	-
Q3 2014	-	-	-	-	-	-
Q4 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	4,302.86	-	356.45	-	200.38	-
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	4,565.68	6.1 %	480.02	34.7 %	263.48	31.5 %
Q1 2020	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	4,086.82	(10.5 %)	436.38	(9.1 %)	277.01	5.1 %
Q1 2021	-	-	-	-	-	-
Q2 2021	-	-	-	-	-	-
Q3 2021	1,251.87	-	103.43	-	53.43	-
Q4 2021	1,396.15	-	129.56	-	99.27	-
2021	4,883.44	19.5 %	463.08	6.1 %	300.51	8.5 %
Q1 2022	1,561.18	-	151.85	-	101.57	-
Q2 2022	1,691.10	-	141.74	-	94.29	-
Q3 2022	1,769.30	41.3 %	163.92	58.5 %	109.26	104.5 %
Q4 2022	1,830.72	31.1 %	189.59	46.3 %	142.16	43.2 %
2022	6,852.31	40.3 %	647.10	39.7 %	447.28	48.8 %
Q1 2023	1,937.28	24.1 %	218.74	44.0 %	167.61	65.0 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	4,302.86	-	356.45	-	200.38	-
2019	4,565.68	6.1 %	480.02	34.7 %	263.48	31.5 %
2020	4,086.82	(10.5 %)	436.38	(9.1 %)	277.01	5.1 %
2021	4,883.44	19.5 %	463.08	6.1 %	300.51	8.5 %
2022	6,852.31	40.3 %	647.10	39.7 %	447.28	48.8 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2014	-	-	-	-	-	-
Q2 2014	-	-	-	-	-	-
Q3 2014	-	-	-	-	-	-
Q4 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	135.29	-	0.90	-	135.29	0.90
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	196.88	45.5 %	1.31	-	196.88	1.31
Q1 2020	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	218.43	10.9 %	1.46	-	218.43	1.46
Q1 2021	-	-	-	-	-	-
Q2 2021	-	-	-	-	-	-
Q3 2021	36.16	-	0.24	-	36.16	0.24
Q4 2021	84.89	-	0.57	-	84.89	0.57
2021	239.83	9.8 %	1.60	-	239.83	1.60
Q1 2022	85.01	-	0.57	-	85.01	0.57
Q2 2022	68.26	-	0.46	-	68.26	0.46
Q3 2022	92.73	156.4 %	0.62	20.48	72.25	0.48
Q4 2022	106.32	25.3 %	0.71	0.36	105.97	0.71
2022	352.32	46.9 %	2.35	20.84	331.48	2.21
Q1 2023	124.92	46.9 %	0.83	(9.93)	134.85	0.90

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	135.29	-	0.90	-	135.29	0.90
2019	196.88	45.5 %	1.31	-	196.88	1.31
2020	218.43	10.9 %	1.46	-	218.43	1.46
2021	239.83	9.8 %	1.60	-	239.83	1.60
2022	352.32	46.9 %	2.35	20.84	331.48	2.21

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
2014	-	-	-
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
2018	8.28 %	6.15 %	3.14 %
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
2019	10.51 %	7.27 %	4.31 %
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
2020	10.68 %	8.34 %	5.34 %
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
2021	9.48 %	7.49 %	4.91 %
Q1 2022	-	-	-
Q2 2022	8.92 %	6.85 %	4.65 %
Q3 2022	9.15 %	7.31 %	4.84 %
Q4 2022	9.44 %	7.46 %	4.84 %
2022	9.44 %	7.46 %	4.84 %
Q1 2023	9.88 %	8.00 %	5.28 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	8.28 %	6.15 %	3.14 %
2019	10.51 %	7.27 %	4.31 %
2020	10.68 %	8.34 %	5.34 %
2021	9.48 %	7.49 %	4.91 %
2022	9.44 %	7.46 %	4.84 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	8.26 %	-	2.89 %
Q4 2021	9.28 %	8.81 %	6.08 %
Q1 2022	9.73 %	7.52 %	5.45 %
Q2 2022	8.38 %	6.52 %	4.04 %
Q3 2022	9.26 %	6.70 %	4.08 %
Q4 2022	10.36 %	9.01 %	5.79 %
Q1 2023	11.29 %	9.51 %	6.96 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2014	-	-	-	-
Q2 2014	-	-	-	-
Q3 2014	-	-	-	-
Q4 2014	-	-	-	-
Q1 2015	-	-	-	-
Q2 2015	-	-	-	-
Q3 2015	-	-	-	-
Q4 2015	-	-	-	-
Q1 2016	-	-	-	-
Q2 2016	-	-	-	-
Q3 2016	-	-	-	-
Q4 2016	-	-	-	-
Q1 2017	-	-	-	-
Q2 2017	-	-	-	-
Q3 2017	-	-	-	-
Q4 2017	-	-	-	-
Q1 2018	-	-	-	-
Q2 2018	-	-	-	-
Q3 2018	-	-	-	-
Q4 2018	-	-	-	-
Q1 2019	-	-	-	-
Q2 2019	-	-	-	-
Q3 2019	-	-	-	-
Q4 2019	-	-	-	-
Q1 2020	-	-	-	-
Q2 2020	-	-	-	-
Q3 2020	-	-	-	-
Q4 2020	-	-	-	-
Q1 2021	-	-	-	-
Q2 2021	-	-	-	-
Q3 2021	150.00	-	-	-
Q4 2021	150.00	-	-	13.57
Q1 2022	150.00	-	-	14.07
Q2 2022	150.00	1.83	1.83	12.78
Q3 2022	150.00	2.21	2.07	13.17
Q4 2022	150.00	2.35	2.21	14.14
Q1 2023	150.00	2.61	2.54	15.12

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2013	-	-	-	-
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	150.00	0.90	0.90	12.94
2019	150.00	1.31	1.31	12.79
2020	150.00	1.46	1.46	13.06
2021	150.00	1.60	1.60	13.57
2022	150.00	2.35	2.21	14.14

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	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
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	15.43	16.40	2.56
Q1 2023	20.23	20.81	3.50

Period	P/E	Adjusted P/E	Price/book
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-
2022	15.43	16.40	2.56

Business Segments (Million)

Compared With The

Period	Cables and Wires	HV Projects	Other
Q3 2021	1,204.66	22.08	25.11
Q4 2021	1,372.71	16.66	6.79
Q1 2022	1,550.30	6.39	4.50
Q2 2022	1,666.11	19.40	5.59
Q3 2022	1,772.57	-	(3.27)
Q4 2022	1,783.67	44.14	2.91
Q1 2023	1,878.44	51.73	7.11

Period	Cables and Wires	HV Projects	Other
2020	4,009.91	20.39	56.52
2021	4,763.10	79.53	40.81
2022	6,772.65	69.93	9.73

Analysts Estimates (Million)

Item	Q1 2023 (e)	Q1 2023 (a)	Change‬
Average	111.50	124.92	12.04 %

Estimates vs Actual (Million)

Item	Q1 2023 (e)	Q1 2023 (a)	Change
Riyad Capital	112.00	124.92	11.5 %
Al Rajhi Capital	111.00	124.92	12.5 %

Financial Ratios

	Current
Market Cap (M Riyal)	17,550.00
Enterprise Value (EV) (M)	18,295.45
Shares Outstanding ((M))	150.00
EPS ( Riyal) (TTM)	4.66
Book Value (BV) ( Riyal)	17.64
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	24.70
P/E (TTM)	25.08
Price/book	6.63
Return on Average Assets (%) (TTM)	12.9
Return on Average Equity (%) (TTM)	28.4

Riyadh Cables Group Co. (RIYADH CABLES)

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Riyadh Cables Q1 2023 net profit rises 47% to SAR 124.9 mln

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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)

Revenue by Business Segment (Latest) 2023 Q1

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Riyadh Cables Group Co. (RIYADH CABLES)

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Riyadh Cables Q1 2023 net profit rises 47% to SAR 124.9 mln

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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) Q1 2023

Revenue by Business Segment (Latest) 2023 Q1

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Riyadh Cables Group Co. (RIYADH CABLES)

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Business Segments (Million)