Baazeem Trading 2023 profit marginally down to SAR 21.7M; Q4 at SAR 4.1M

Baazeem Trading 2023 profit marginally down to SAR 21.7M; Q4 at SAR 4.1M

18/03/2024 Argaam Exclusive

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Baazeem Trading Co. reported a slight fall in 2023 net profit to SAR 21.7 million, compared to SAR 21.8 million in 2022.



Financials (M)

Item 2022 2023 Change‬
Revenues 263.35 257.11 (2.4 %)
Gross Income 97.88 98.92 1.1 %
Operating Income 26.92 25.52 (5.2 %)
Net Income 21.78 21.65 (0.6 %)
Average Shares 10.13 10.13 -
EPS (Riyals) 2.15 2.14 (0.6 %)

The profit decline was attributed to lower sales amid the out-of-stock, driven by the latest development in the Red Sea.

 

In Q4 2023, net profit declined 5% year-on-year (YoY) to SAR 4.1 million.

 

Compared to the previous quarter, net profit grew 5% from SAR 3.90 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2022 Q4 2023 Change‬
Revenues 67.25 61.86 (8.0 %)
Gross Income 25.74 27.02 5.0 %
Operating Income 6.19 4.74 (23.5 %)
Net Income 4.29 4.09 (4.6 %)
Average Shares 10.13 10.13 -
EPS (Riyals) 0.42 0.40 (4.6 %)

Total shareholders’ equity, no minority interest, rose to SAR 194.05 million as of Dec. 31, 2023, from SAR 190.38 million a year earlier.

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2014 - - - - - - -
Q2 2014 - - - - - - -
Q3 2014 - - - - - - -
Q4 2014 - - - - - - -
Q1 2015 - - - - - - -
Q2 2015 - - - - - - -
Q3 2015 77.25 - 33.87 - 10.86 - 1.07
Q4 2015 104.19 - 45.12 - 9.07 - 0.90
Q1 2016 77.45 - 33.22 - 5.89 - 0.58
Q2 2016 96.96 - 41.83 - 10.70 - 1.06
Q3 2016 75.39 (2.4 %) 31.35 (7.4 %) 7.23 (33.5 %) 0.71
Q4 2016 93.68 (10.1 %) 42.49 (5.8 %) 9.38 3.4 % 0.93
Q1 2017 76.35 (1.4 %) 26.08 (21.5 %) 6.36 7.9 % 0.63
Q2 2017 95.25 (1.8 %) 48.57 16.1 % 11.45 7.0 % 1.13
Q3 2017 66.28 (12.1 %) 25.54 (18.5 %) 3.95 (45.4 %) 0.39
Q4 2017 92.66 (1.1 %) 37.10 (12.7 %) 2.80 (70.2 %) 0.28
Q1 2018 71.36 (6.5 %) 28.69 10.0 % 6.47 1.7 % 0.64
Q2 2018 81.36 (14.6 %) 36.62 (24.6 %) 5.34 (53.4 %) 0.53
Q3 2018 65.86 (0.6 %) 26.65 4.3 % 3.66 (7.3 %) 0.36
Q4 2018 83.83 (9.5 %) 32.44 (12.6 %) 4.99 78.5 % 0.49
Q1 2019 64.69 (9.4 %) 21.41 (25.4 %) 7.02 8.5 % 0.69
Q2 2019 66.71 (18.0 %) 21.18 (42.2 %) 5.36 0.4 % 0.53
Q3 2019 60.16 (8.7 %) 17.56 (34.1 %) 3.11 (15.1 %) 0.31
Q4 2019 68.70 (18.0 %) 23.31 (28.1 %) 5.14 3.1 % 0.51
Q1 2020 80.87 25.0 % 31.05 45.1 % 8.91 26.9 % 0.88
Q2 2020 71.75 7.6 % 22.84 7.9 % 6.59 22.9 % 0.65
Q3 2020 66.00 9.7 % 24.95 42.0 % 4.89 57.5 % 0.48
Q4 2020 66.86 (2.7 %) 26.89 15.4 % 5.88 14.4 % 0.58
Q1 2021 79.84 (1.3 %) 29.09 (6.3 %) 9.78 9.8 % 0.97
Q2 2021 59.38 (17.2 %) 25.18 10.2 % 4.91 (25.5 %) 0.48
Q3 2021 59.52 (9.8 %) 20.70 (17.0 %) 4.18 (14.5 %) 0.41
Q4 2021 61.18 (8.5 %) 22.01 (18.1 %) 2.68 (54.4 %) 0.26
Q1 2022 74.44 (6.8 %) 26.62 (8.5 %) 8.89 (9.1 %) 0.88
Q2 2022 58.45 (1.6 %) 23.06 (8.4 %) 4.55 (7.2 %) 0.45
Q3 2022 63.21 6.2 % 22.46 8.5 % 4.04 (3.3 %) 0.40
Q4 2022 67.25 9.9 % 25.74 16.9 % 4.29 60.1 % 0.42
Q1 2023 75.44 1.4 % 26.72 0.4 % 8.94 0.6 % 0.88
Q2 2023 59.35 1.5 % 24.93 8.1 % 4.72 3.7 % 0.47
Q3 2023 60.46 (4.4 %) 20.24 (9.9 %) 3.90 (3.7 %) 0.38
Q4 2023 61.86 (8.0 %) 27.02 5.0 % 4.09 (4.6 %) 0.40
2023 257.11 (2.4 %) 98.92 1.1 % 21.65 (0.6 %) 2.14

Profitability

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 43.29 % 11.98 % 10.26 %
Q3 2016 42.80 % 10.50 % 9.29 %
Q4 2016 43.35 % 10.63 % 9.67 %
Q1 2017 41.40 % 10.81 % 9.83 %
Q2 2017 43.59 % 10.79 % 10.10 %
Q3 2017 43.04 % 10.56 % 9.39 %
Q4 2017 41.54 % 9.84 % 7.43 %
Q1 2018 42.98 % 10.24 % 7.58 %
Q2 2018 41.06 % 8.94 % 5.95 %
Q3 2018 41.47 % 9.80 % 5.87 %
Q4 2018 41.14 % 10.38 % 6.76 %
Q1 2019 39.60 % 10.95 % 7.10 %
Q2 2019 36.17 % 11.26 % 7.48 %
Q3 2019 33.62 % 10.70 % 7.43 %
Q4 2019 32.07 % 11.82 % 7.93 %
Q1 2020 33.68 % 12.04 % 8.14 %
Q2 2020 33.67 % 12.56 % 8.44 %
Q3 2020 35.55 % 12.80 % 8.88 %
Q4 2020 37.04 % 12.94 % 9.20 %
Q1 2021 36.48 % 13.25 % 9.54 %
Q2 2021 39.00 % 13.02 % 9.36 %
Q3 2021 38.35 % 12.96 % 9.32 %
Q4 2021 37.31 % 12.44 % 8.29 %
Q1 2022 37.14 % 12.19 % 8.12 %
Q2 2022 36.44 % 11.92 % 8.01 %
Q3 2022 36.60 % 11.93 % 7.84 %
Q4 2022 37.17 % 11.81 % 8.27 %
Q1 2023 37.07 % 11.77 % 8.26 %
Q2 2023 37.65 % 11.88 % 8.29 %
Q3 2023 37.20 % 11.86 % 8.32 %
Q4 2023 38.47 % 11.51 % 8.42 %
2023 38.48 % 11.51 % 8.42 %


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 10.13 - - 16.39
Q4 2015 10.13 - - 17.16
Q1 2016 10.13 - - 17.75
Q2 2016 10.13 3.61 3.61 16.68
Q3 2016 10.13 3.25 3.25 17.39
Q4 2016 10.13 3.28 3.28 18.32
Q1 2017 10.13 3.32 3.32 18.93
Q2 2017 10.13 3.40 3.40 18.04
Q3 2017 10.13 3.08 3.08 18.33
Q4 2017 10.13 2.42 2.42 18.85
Q1 2018 10.13 2.44 2.44 19.49
Q2 2018 10.13 1.83 1.83 18.31
Q3 2018 10.13 1.80 1.80 18.68
Q4 2018 10.13 2.02 2.02 19.17
Q1 2019 10.13 2.07 2.07 19.86
Q2 2019 10.13 2.08 2.08 18.89
Q3 2019 10.13 2.02 2.02 19.20
Q4 2019 10.13 2.04 2.04 17.89
Q1 2020 10.13 2.22 2.22 18.77
Q2 2020 10.13 2.34 2.34 17.82
Q3 2020 10.13 2.52 2.52 18.30
Q4 2020 10.13 2.59 2.59 18.88
Q1 2021 10.13 2.68 2.68 19.85
Q2 2021 10.13 2.51 2.51 18.59
Q3 2021 10.13 2.44 2.44 19.00
Q4 2021 10.13 2.13 2.13 19.17
Q1 2022 10.13 2.04 2.04 20.05
Q2 2022 10.13 2.01 2.01 18.75
Q3 2022 10.13 1.99 1.99 18.45
Q4 2022 10.13 2.15 2.15 18.80
Q1 2023 10.13 2.16 2.16 19.69
Q2 2023 10.13 2.17 2.17 19.05
Q3 2023 10.13 2.16 2.16 18.74
Q4 2023 10.13 2.14 2.14 19.17

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 10.47 10.47 1.84
Q2 2017 7.68 7.68 1.45
Q3 2017 8.07 8.07 1.35
Q4 2017 11.43 11.43 1.47
Q1 2018 9.82 9.82 1.23
Q2 2018 14.58 14.58 1.46
Q3 2018 13.59 13.59 1.31
Q4 2018 14.41 14.41 1.52
Q1 2019 14.08 14.08 1.47
Q2 2019 14.26 14.26 1.57
Q3 2019 14.55 14.55 1.53
Q4 2019 21.04 21.04 2.40
Q1 2020 15.93 15.93 1.89
Q2 2020 20.76 20.76 2.73
Q3 2020 23.97 23.97 3.30
Q4 2020 34.79 34.79 4.78
Q1 2021 40.08 40.08 5.41
Q2 2021 57.85 57.85 7.83
Q3 2021 51.57 51.57 6.64
Q4 2021 52.93 52.93 5.88
Q1 2022 48.99 48.99 4.99
Q2 2022 32.38 32.38 3.46
Q3 2022 33.60 33.60 3.63
Q4 2022 26.38 26.38 3.02
Q1 2023 30.63 30.63 3.35
Q2 2023 32.05 32.05 3.65
Q3 2023 29.77 29.77 3.43
Q4 2023 30.41 30.41 3.39


Financial Ratios
Current
Market Cap (M Riyal) 623.00
Enterprise Value (EV) (M) 594.54
Shares Outstanding ((M)) 10.13
EPS ( Riyal) (TTM) 2.10
Book Value (BV) ( Riyal) 20.01
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 29.35
P/E (TTM) 29.35
Price/book 3.08
Return on Average Assets (%) (TTM) 8.4
Return on Average Equity (%) (TTM) 10.6
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Share Price

Baazeem Trading Co.
61.80
(0.60) (0.96 %)

Baazeem Trading Co. (BAAZEEM)

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