National Building 2021 profit jumps to SAR 80.7mln; Q4 at SAR 27.5 mln

27/03/2022 Argaam Exclusive

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National Building and Marketing Co. (NBM) reported a net profit after Zakat and tax of SAR 80.7 million in 2021, a 165% year-over-year (YoY) increase from SAR 30.2 million a year earlier.

The increase was driven by higher sales in the industrial and building materials segments, including construction and trading.

Lower financing costs and higher gross profit margin were also cited as reasons for stronger profits.

Financials (M)

Item	2020	2021	Change‬
Revenues	286.73	678.42	136.6 %
Gross Income	38.41	95.95	149.8 %
Operating Income	29.83	80.00	168.2 %
Net Income	30.45	73.40	141.1 %
Average Shares	12.00	12.00	-
EPS (Riyals)	2.54	6.12	141.1 %

The company reported a net profit of SAR 27.5 million for Q4 2021, a 55.7% YoY increase, from SAR 17.6 million in the same period a year earlier.

On a sequential basis, net profit fell 2.4% from SAR 28.1 million in Q3 2021.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2020	H2 2021	Change‬
Revenues	133.04	380.39	185.9 %
Gross Income	23.63	60.19	154.7 %
Operating Income	18.71	51.28	174.1 %
Net Income	22.69	48.31	112.9 %
Average Shares	12.00	12.00	-
EPS (Riyals)	1.89	4.03	112.9 %

Item	H1 2021	H2 2021	Change‬
Revenues	298.03	380.39	27.6 %
Gross Income	35.76	60.19	68.3 %
Operating Income	28.72	51.28	78.6 %
Net Income	25.09	48.31	92.5 %
Average Shares	12.00	12.00	-
EPS (Riyals)	2.09	4.03	92.5 %

Total shareholders’ equity, excluding minority interest, rose 51.8% YoY to SAR 241.411 million in 2021 from SAR 159.006 million a year earlier.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
H1 2012	-	-	-	-	-	-
H2 2012	-	-	-	-	-	-
2012	-	-	-	-	-	-
H1 2013	-	-	-	-	-	-
H2 2013	-	-	-	-	-	-
2013	-	-	-	-	-	-
H1 2014	-	-	-	-	-	-
H2 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	657.37	-	91.13	-	60.27	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	208.10	(68.3 %)	41.45	(54.5 %)	21.65	(64.1 %)
H1 2017	81.25	-	14.69	-	11.22	-
H2 2017	87.11	-	11.18	-	11.67	-
2017	168.36	(19.1 %)	25.87	(37.6 %)	22.89	5.7 %
H1 2018	80.51	(0.9 %)	16.38	11.5 %	13.54	20.7 %
H2 2018	86.61	(0.6 %)	14.67	31.2 %	14.49	24.2 %
2018	167.12	(0.7 %)	31.05	20.0 %	28.02	22.4 %
H1 2019	79.68	(1.0 %)	13.91	(15.1 %)	11.99	(11.4 %)
H2 2019	91.13	5.2 %	1.93	(86.8 %)	0.83	(94.2 %)
2019	170.81	2.2 %	15.84	(49.0 %)	12.83	(54.2 %)
H1 2020	153.70	92.9 %	14.78	6.3 %	11.12	(7.2 %)
H2 2020	133.04	46.0 %	23.63	1125.2 %	18.71	2141.3 %
2020	286.73	67.9 %	38.41	142.6 %	29.83	132.6 %
H1 2021	298.03	93.9 %	35.76	142.0 %	28.72	158.2 %
H2 2021	380.39	185.9 %	60.19	154.7 %	51.28	174.1 %
2021	678.42	136.6 %	95.95	149.8 %	80.00	168.2 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2012	-	-	-	-	-	-
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	657.37	-	91.13	-	60.27	-
2016	208.10	(68.3 %)	41.45	(54.5 %)	21.65	(64.1 %)
2017	168.36	(19.1 %)	25.87	(37.6 %)	22.89	5.7 %
2018	167.12	(0.7 %)	31.05	20.0 %	28.02	22.4 %
2019	170.81	2.2 %	15.84	(49.0 %)	12.83	(54.2 %)
2020	286.73	67.9 %	38.41	142.6 %	29.83	132.6 %
2021	678.42	136.6 %	95.95	149.8 %	80.00	168.2 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
H1 2012	-	-	-	-	-	-
H2 2012	-	-	-	-	-	-
2012	-	-	-	-	-	-
H1 2013	-	-	-	-	-	-
H2 2013	-	-	-	-	-	-
2013	-	-	-	-	-	-
H1 2014	-	-	-	-	-	-
H2 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	40.35	-	3.36	-	40.35	3.36
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	16.77	(58.5 %)	1.40	-	16.77	1.40
H1 2017	11.21	-	0.93	-	11.21	0.93
H2 2017	15.58	-	1.30	-	15.58	1.30
2017	26.79	59.8 %	2.23	-	26.79	2.23
H1 2018	12.47	11.2 %	1.04	-	12.47	1.04
H2 2018	11.64	(25.3 %)	0.97	-	11.64	0.97
2018	24.12	(10.0 %)	2.01	-	24.12	2.01
H1 2019	8.56	(31.4 %)	0.71	-	8.56	0.71
H2 2019	(2.33)	(120.0 %)	(0.19)	-	(2.33)	(0.19)
2019	6.22	(74.2 %)	0.52	-	6.22	0.52
H1 2020	7.76	(9.3 %)	0.65	-	7.76	0.65
H2 2020	22.69	1072.1 %	1.89	-	22.69	1.89
2020	30.45	389.3 %	2.54	-	30.45	2.54
H1 2021	25.09	223.5 %	2.09	-	25.09	2.09
H2 2021	48.31	112.9 %	4.03	-	48.31	4.03
2021	73.40	141.1 %	6.12	-	73.40	6.12

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2012	-	-	-	-	-	-
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	40.35	-	3.36	-	40.35	3.36
2016	16.77	(58.5 %)	1.40	-	16.77	1.40
2017	26.79	59.8 %	2.23	-	26.79	2.23
2018	24.12	(10.0 %)	2.01	-	24.12	2.01
2019	6.22	(74.2 %)	0.52	-	6.22	0.52
2020	30.45	389.3 %	2.54	-	30.45	2.54
2021	73.40	141.1 %	6.12	-	73.40	6.12

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
H1 2012	-	-	-
H2 2012	-	-	-
2012	-	-	-
H1 2013	-	-	-
H2 2013	-	-	-
2013	-	-	-
H1 2014	-	-	-
H2 2014	-	-	-
2014	-	-	-
H1 2015	-	-	-
H2 2015	-	-	-
2015	13.86 %	10.30 %	6.14 %
H1 2016	-	-	-
H2 2016	-	-	-
2016	19.92 %	13.06 %	8.06 %
H1 2017	-	-	-
H2 2017	15.36 %	16.79 %	15.91 %
2017	15.36 %	16.79 %	15.91 %
H1 2018	16.44 %	18.28 %	16.74 %
H2 2018	18.58 %	20.71 %	14.43 %
2018	18.58 %	20.71 %	14.43 %
H1 2019	17.18 %	19.61 %	12.15 %
H2 2019	9.27 %	13.16 %	3.64 %
2019	9.27 %	13.16 %	3.64 %
H1 2020	6.82 %	13.08 %	2.21 %
H2 2020	13.40 %	19.17 %	10.62 %
2020	13.40 %	19.17 %	10.62 %
H1 2021	13.78 %	15.55 %	11.08 %
H2 2021	14.14 %	15.41 %	10.82 %
2021	14.14 %	15.41 %	10.82 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	13.86 %	10.30 %	6.14 %
2016	19.92 %	13.06 %	8.06 %
2017	15.36 %	16.79 %	15.91 %
2018	18.58 %	20.71 %	14.43 %
2019	9.27 %	13.16 %	3.64 %
2020	13.40 %	19.17 %	10.62 %
2021	14.14 %	15.41 %	10.82 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
H1 2012	-	-	-
H2 2012	-	-	-
H1 2013	-	-	-
H2 2013	-	-	-
H1 2014	-	-	-
H2 2014	-	-	-
H1 2015	-	-	-
H2 2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
H1 2017	18.08 %	16.64 %	13.80 %
H2 2017	12.83 %	16.93 %	17.89 %
H1 2018	20.35 %	19.75 %	15.49 %
H2 2018	16.93 %	21.60 %	13.44 %
H1 2019	17.45 %	17.46 %	10.74 %
H2 2019	2.12 %	9.41 %	(2.56 %)
H1 2020	9.61 %	15.25 %	5.05 %
H2 2020	17.76 %	23.70 %	17.05 %
H1 2021	12.00 %	11.92 %	8.42 %
H2 2021	15.82 %	18.14 %	12.70 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
H1 2012	-	-	-	-
H2 2012	-	-	-	-
H1 2013	-	-	-	-
H2 2013	-	-	-	-
H1 2014	-	-	-	-
H2 2014	-	-	-	-
H1 2015	-	-	-	-
H2 2015	-	-	-	-
H1 2016	-	-	-	-
H2 2016	-	-	-	-
H1 2017	12.00	-	-	7.02
H2 2017	12.00	2.23	2.23	8.24
H1 2018	12.00	2.34	2.34	8.54
H2 2018	12.00	2.01	2.01	10.62
H1 2019	12.00	1.68	1.68	11.33
H2 2019	12.00	0.52	0.52	10.78
H1 2020	12.00	0.45	0.45	10.96
H2 2020	12.00	2.54	2.54	13.25
H1 2021	12.00	3.98	3.98	15.34
H2 2021	12.00	6.12	6.12	19.00

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2012	-	-	-	-
2013	-	-	-	-
2014	-	-	-	-
2015	12.00	3.36	3.36	3.56
2016	12.00	1.40	1.40	6.08
2017	12.00	2.23	2.23	8.24
2018	12.00	2.01	2.01	10.62
2019	12.00	0.52	0.52	10.78
2020	12.00	2.54	2.54	13.25
2021	12.00	6.12	6.12	19.00

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
H1 2012	-	-	-
H2 2012	-	-	-
H1 2013	-	-	-
H2 2013	-	-	-
H1 2014	-	-	-
H2 2014	-	-	-
H1 2015	-	-	-
H2 2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
H1 2017	-	-	-
H2 2017	-	-	-
H1 2018	9.41	9.41	2.58
H2 2018	10.95	10.95	2.07
H1 2019	More than 100	More than 100	15.88
H2 2019	More than 100	More than 100	12.94
H1 2020	More than 100	More than 100	9.81
H2 2020	More than 100	More than 100	34.52
H1 2021	75.75	75.75	19.66
H2 2021	54.44	54.44	17.53

Period	P/E	Adjusted P/E	Price/book
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	10.95	10.95	2.07
2019	More than 100	More than 100	12.94
2020	More than 100	More than 100	34.52
2021	54.44	54.44	17.53

Business Segments (Million)

Compared With The

Period	Iron Industry	Contracting Projects	commercial sector
Q2 2020	133.31	-	20.38
Q4 2020	80.39	-	52.65
Q2 2021	185.71	110.48	1.85
Q4 2021	180.74	159.41	40.23

Period	Iron Industry	Contracting Projects	commercial sector
2020	213.70	-	73.04
2021	366.45	269.89	42.08

Financial Ratios

	Current
Market Cap (M Riyal)	2,412.00
Enterprise Value (EV) (M)	2,781.37
Shares Outstanding ((M))	12.00
Book Value (BV) ( Riyal)	24.65
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	More than 100
Price/book	8.15

National Building and Marketing Co. (NBM)

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National Building 2021 profit jumps to SAR 80.7mln; Q4 at SAR 27.5 mln

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Financials (M)

Current Half Annual 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) 2021 Q4

Financial Ratios

Share Price

National Building and Marketing Co. (NBM)

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National Building 2021 profit jumps to SAR 80.7mln; Q4 at SAR 27.5 mln

View other reports

Financials (M)

Current Half Annual 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 2021

Revenue by Business Segment (Latest) 2021 Q4

Financial Ratios

Share Price

National Building and Marketing Co. (NBM)

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Business Segments (Million)