National Building’s H1 net profit falls 20% to SAR 26.2 mln

National Building’s H1 net profit falls 20% to SAR 26.2 mln

01/10/2023 Argaam Exclusive

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National Building and Marketing Co. (NBM) reported a net profit of SAR 26.2 million in H1 2023, a decline of 20% from SAR 32.6 million a year earlier. 



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 320.75 316.46 (1.3 %)
Gross Income 43.42 42.00 (3.3 %)
Operating Income 34.49 32.50 (5.8 %)
Net Income 32.65 26.24 (19.6 %)
Average Shares 12.00 12.00 -
EPS (Riyals) 2.72 2.19 (19.6 %)

The lower profit was driven by an increase in the cost of finance year-on-year (YoY) to SAR 19 million, in addition to higher SAIBOR. 



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 320.75 316.46 (1.3 %)
Gross Income 43.42 42.00 (3.3 %)
Operating Income 34.49 32.50 (5.8 %)
Net Income 32.65 26.24 (19.6 %)
Average Shares 12.00 12.00 -
EPS (Riyals) 2.72 2.19 (19.6 %)

Shareholders’ equity, after minority equity, stood at SAR 291.45 million as of June 30, 2023, compared to SAR 260.50 million in the prior-year period.  

 

Interim Statements

Period

Revenue (SAR mln)

Net Profit (SAR mln)

EPS (SAR/share)

H1 2018

80.51

12.47

1.04

H2 2018

86.61

11.64

0.97

H1 2019

79.68

8.56

0.71

H2 2019

91.13

(2.33)

(0.19)

H1 2020

153.70

7.76

0.65

H2 2020

133.04

22.69

1.89

H1 2021

298.03

25.09

2.09

H2 2021

362.25

55.59

4.63

H1 2022

320.75

32.58

2.72

H2 2022

331.44

14.26

1.19

H1 2023

316.46

26.22

2.18
 

View more financial results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %
H2 2022 331.45 (12.9 %) 26.76 (55.5 %) 13.94 (72.8 %)
H1 2023 316.46 (1.3 %) 42.00 (3.3 %) 32.50 (5.8 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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
H2 2022 6.09 (87.4 %) 0.51 - 6.09 0.51
H1 2023 26.24 (19.6 %) 2.19 12.32 13.92 1.16

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %
H2 2022 10.76 % 11.97 % 5.94 %
H1 2023 10.61 % 13.84 % 3.09 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
H2 2022 12.00 3.23 3.23 21.97
H1 2023 12.00 2.69 1.67 24.29

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
H2 2022 77.43 77.43 11.38
H1 2023 87.21 More than 100 9.68

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
Q4 2022 264.07 56.21 8.87 2.30
Q2 2023 221.94 52.40 40.27 1.85


Financial Ratios
Current
Market Cap (M Riyal) 2,404.80
Enterprise Value (EV) (M) 2,774.17
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 8.13
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Share Price

National Building and Marketing Co.
200.40
(0.40) (0.20 %)

National Building and Marketing Co. (NBM)

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