National Building H1 2022 net profit rises 27% to SAR 31.8 mln

National Building H1 2022 net profit rises 27% to SAR 31.8 mln

24/08/2022 Argaam Exclusive

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National Building and Marketing Co. (NBM) reported a net profit after Zakat and tax of SAR 31.8 million in H1 2022, an increase of 27%, compared to SAR 25.1 million in the prior-year period. 



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 298.03 320.75 7.6 %
Gross Income 35.76 43.42 21.4 %
Operating Income 28.72 34.49 20.1 %
Net Income 25.09 32.65 30.1 %
Average Shares 12.00 12.00 -
EPS (Riyals) 2.09 2.72 30.1 %

This was triggered by a 13.71% higher revenue year-on-year (YoY) and a 17.48% increase YoY in net operating profit, in addition to higher total comprehensive income. 



Current Half Annual Comparison (M)

Compared With The
Item H1 2021 H1 2022 Change‬
Revenues 298.03 320.75 7.6 %
Gross Income 35.76 43.42 21.4 %
Operating Income 28.72 34.49 20.1 %
Net Income 25.09 32.65 30.1 %
Average Shares 12.00 12.00 -
EPS (Riyals) 2.09 2.72 30.1 %

Total shareholders’ equity, excluding minority interest, stood at SAR 273.159 million by the end of H1 2022, compared to SAR 241.411 million in the year-earlier period.

 

The company’s profit from associates rose 10.04% YoY to SAR 1.264 million by the end of H1 2022.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2013 - - - - - -
H2 2013 - - - - - -
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 81.25 - 14.69 - 11.22 -
H2 2017 87.11 - 11.18 - 11.67 -
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 %
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 %)
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 %
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 %
H1 2022 320.75 7.6 % 43.42 21.4 % 34.49 20.1 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2013 - - - - - -
H2 2013 - - - - - -
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 11.21 - 0.93 - 11.21 0.93
H2 2017 15.58 - 1.30 - 15.58 1.30
H1 2018 12.47 11.2 % 1.04 - 12.47 1.04
H2 2018 11.64 (25.3 %) 0.97 - 11.64 0.97
H1 2019 8.56 (31.4 %) 0.71 - 8.56 0.71
H2 2019 (2.33) (120.0 %) (0.19) - (2.33) (0.19)
H1 2020 7.76 (9.3 %) 0.65 - 7.76 0.65
H2 2020 22.69 1072.1 % 1.89 - 22.69 1.89
H1 2021 25.09 223.5 % 2.09 - 25.09 2.09
H2 2021 48.31 112.9 % 4.03 - 48.31 4.03
H1 2022 32.65 30.1 % 2.72 - 32.65 2.72

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2013 - - -
H2 2013 - - -
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 15.36 % 16.79 % 15.91 %
H1 2018 16.44 % 18.28 % 16.74 %
H2 2018 18.58 % 20.71 % 14.43 %
H1 2019 17.18 % 19.61 % 12.15 %
H2 2019 9.27 % 13.16 % 3.64 %
H1 2020 6.82 % 13.08 % 2.21 %
H2 2020 13.40 % 19.17 % 10.62 %
H1 2021 13.78 % 15.55 % 11.08 %
H2 2021 14.14 % 15.41 % 10.82 %
H1 2022 14.78 % 16.79 % 11.55 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
H1 2022 12.00 6.75 6.75 21.71

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
H1 2022 40.61 40.61 12.62

Business Segments (Million)

Compared With The
Period Iron Industry Contracting Projects commercial sector Information technology
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 -
Q2 2022 213.22 104.31 3.19 0.03


Financial Ratios
Current
Market Cap (M Riyal) 2,421.60
Enterprise Value (EV) (M) 2,790.97
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 8.19
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Share Price

National Building and Marketing Co.
201.80
2.00 1.00 %

National Building and Marketing Co. (NBM)

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