Al-Omran turns to SAR 13.9M loss in 2023; Q4 at SAR 7M

Al-Omran turns to SAR 13.9M loss in 2023; Q4 at SAR 7M

28/03/2024 Argaam Exclusive

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Al-Omran Industrial Trading Co. swung to SAR 13.9 million losses in 2023, versus a net profit of SAR 5.8 million a year earlier.



Financials (M)

Item 2022 2023 Change‬
Revenues 126.93 130.44 2.8 %
Gross Income 34.69 19.54 (43.7 %)
Operating Income 11.91 (5.58) (146.8 %)
Net Income 5.79 (13.91) (340.1 %)
Average Shares 10.21 6.00 (41.2 %)
EPS (Riyals) 0.57 (2.32) (508.5 %)

This was triggered by a 12% increase year-on-year (YoY) in cost of sales to sales, and a 45% rise in general and administrative expenses (G&As). The company also cited a 94% hike in cost of finance to SAR 6.6 million in 2023.

 

Q4 2023 net loss deepened to SAR 7 million, from SAR 0.56 million in a year earlier period.

 

On a sequential basis, net loss widened from SAR 2.76 million in Q3 2023.



Current Quarter Comparison (M)

Compared With The
Item Q4 2022 Q4 2023 Change‬
Revenues 21.43 20.81 (2.9 %)
Gross Income 8.13 2.97 (63.4 %)
Operating Income 1.41 (4.34) (407.1 %)
Net Income (0.56) (7.00) (1,151.1 %)
Average Shares 10.21 6.00 (41.2 %)
EPS (Riyals) (0.05) (1.17) (2,028.2 %)

Total shareholders’ equity, no minority interest, stood at SAR 159.5 million by Dec. 31, 2023, compared to SAR 115.5 million a year ago.



Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 22.45 - 6.57 - 2.16 -
Q1 2017 26.54 - 6.49 - 2.79 -
Q2 2017 47.78 - 10.89 - 5.96 -
Q3 2017 23.82 - 5.47 - 1.64 -
Q4 2017 24.11 7.4 % 5.45 (17.0 %) 0.71 (67.0 %)
Q1 2018 22.59 (14.9 %) 6.32 (2.5 %) 2.30 (17.8 %)
Q2 2018 37.23 (22.1 %) 7.55 (30.7 %) 3.31 (44.4 %)
Q3 2018 34.51 44.9 % 6.58 20.2 % 1.92 17.1 %
Q4 2018 22.11 (8.3 %) 2.88 (47.2 %) (0.99) (239.2 %)
Q1 2019 23.60 4.5 % 4.38 (30.8 %) 0.68 (70.2 %)
Q2 2019 37.85 1.7 % 5.76 (23.7 %) 1.71 (48.4 %)
Q3 2019 31.05 (10.0 %) 4.64 (29.4 %) 0.00 (99.9 %)
Q4 2019 22.72 2.7 % 5.73 99.1 % 0.57 157.6 %
Q1 2020 31.58 33.8 % 4.33 (1.0 %) 0.45 (34.1 %)
Q2 2020 61.72 63.1 % 9.35 62.4 % 3.03 77.1 %
Q3 2020 23.04 (25.8 %) 7.75 66.8 % 2.79 278500.0 %
Q4 2020 23.02 1.3 % 8.64 50.8 % (2.59) (551.5 %)
Q1 2021 38.65 22.4 % 9.00 107.7 % 3.76 734.6 %
Q2 2021 43.20 (30.0 %) 9.77 4.5 % 5.26 73.6 %
Q3 2021 32.60 41.5 % 7.68 (0.8 %) 2.58 (7.5 %)
Q4 2021 20.79 (9.7 %) 10.40 20.4 % 3.02 216.7 %
Q1 2022 41.48 7.3 % 8.41 (6.6 %) 3.48 (7.6 %)
Q2 2022 34.46 (20.2 %) 10.24 4.9 % 5.06 (3.7 %)
Q3 2022 29.56 (9.3 %) 7.91 3.0 % 1.96 (23.9 %)
Q4 2022 21.43 3.1 % 8.13 (21.9 %) 1.41 (53.2 %)
Q1 2023 41.43 (0.1 %) 6.22 (26.0 %) 0.74 (78.7 %)
Q2 2023 28.96 (16.0 %) 3.52 (65.6 %) (2.08) (141.0 %)
Q3 2023 39.24 32.7 % 6.83 (13.7 %) 0.10 (95.0 %)
Q4 2023 20.81 (2.9 %) 2.97 (63.4 %) (4.34) (407.1 %)
2023 130.44 2.8 % 19.54 (43.7 %) (5.58) (146.8 %)


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 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 2.10 - 0.21 - 2.10 0.21
Q1 2017 2.29 - 0.22 - 2.29 0.22
Q2 2017 5.23 - 0.51 - 5.23 0.51
Q3 2017 0.98 - 0.10 - 0.98 0.10
Q4 2017 0.40 (80.8 %) 0.04 - 0.40 0.04
Q1 2018 1.72 (24.8 %) 0.17 - 1.72 0.17
Q2 2018 2.96 (43.5 %) 0.29 - 2.96 0.29
Q3 2018 0.78 (20.1 %) 0.08 - 0.78 0.08
Q4 2018 (1.74) (530.0 %) (0.17) - (1.74) (0.17)
Q1 2019 0.71 (58.7 %) 0.07 - 0.71 0.07
Q2 2019 1.22 (58.6 %) 0.12 - 1.22 0.12
Q3 2019 (0.31) (139.0 %) (0.03) - (0.31) (0.03)
Q4 2019 (1.32) 23.8 % (0.13) - (1.32) (0.13)
Q1 2020 0.04 (94.8 %) 0.00 - 0.04 0.00
Q2 2020 1.63 33.3 % 0.16 - 1.63 0.16
Q3 2020 1.94 734.8 % 0.19 - 1.94 0.19
Q4 2020 (2.80) (111.3 %) (0.27) - (2.80) (0.27)
Q1 2021 2.84 7573.0 % 0.28 - 2.84 0.28
Q2 2021 4.42 171.0 % 0.43 - 4.42 0.43
Q3 2021 1.63 (16.0 %) 0.16 - 1.63 0.16
Q4 2021 1.06 137.7 % 0.10 - 1.06 0.10
Q1 2022 2.26 (20.4 %) 0.22 - 2.26 0.22
Q2 2022 3.62 (18.1 %) 0.35 - 3.62 0.35
Q3 2022 0.47 (70.9 %) 0.05 - 0.47 0.05
Q4 2022 (0.56) (153.0 %) (0.05) - (0.56) (0.05)
Q1 2023 (0.63) (128.0 %) (0.06) - (0.63) (0.06)
Q2 2023 (3.61) (199.8 %) (0.35) - (3.61) (0.35)
Q3 2023 (2.75) (681.8 %) (0.46) - (2.75) (0.46)
Q4 2023 (7.00) (1,151.1 %) (1.17) - (7.00) (1.17)
2023 (13.91) (340.1 %) (2.32) - (13.91) (2.32)

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 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 24.39 % 12.66 % 8.79 %
Q4 2017 23.15 % 11.41 % 7.28 %
Q1 2018 23.78 % 11.43 % 7.04 %
Q2 2018 23.01 % 10.20 % 5.62 %
Q3 2018 21.87 % 9.55 % 4.95 %
Q4 2018 20.04 % 8.06 % 3.19 %
Q1 2019 18.20 % 6.54 % 2.31 %
Q2 2019 16.59 % 5.11 % 0.83 %
Q3 2019 15.40 % 3.77 % (0.10 %)
Q4 2019 17.80 % 5.24 % 0.26 %
Q1 2020 16.61 % 4.96 % (0.30 %)
Q2 2020 16.36 % 5.23 % 0.03 %
Q3 2020 19.53 % 7.54 % 1.64 %
Q4 2020 21.57 % 5.23 % 0.58 %
Q1 2021 23.72 % 7.18 % 2.46 %
Q2 2021 27.48 % 9.90 % 5.00 %
Q3 2021 25.52 % 8.99 % 4.43 %
Q4 2021 27.25 % 13.30 % 7.35 %
Q1 2022 26.26 % 12.77 % 6.78 %
Q2 2022 28.40 % 13.45 % 6.62 %
Q3 2022 29.26 % 13.27 % 5.86 %
Q4 2022 27.32 % 11.94 % 4.56 %
Q1 2023 25.61 % 9.79 % 2.28 %
Q2 2023 21.23 % 4.35 % (3.56 %)
Q3 2023 18.84 % 2.60 % (5.76 %)
Q4 2023 14.98 % (0.83 %) (10.73 %)
2023 14.98 % (0.83 %) (10.66 %)


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 10.21 - - 9.89
Q1 2017 10.21 - - 10.12
Q2 2017 10.21 - - 10.63
Q3 2017 10.21 1.04 1.04 10.73
Q4 2017 10.21 0.87 0.87 10.62
Q1 2018 10.21 0.82 0.82 10.79
Q2 2018 10.21 0.59 0.59 11.08
Q3 2018 10.21 0.57 0.57 11.16
Q4 2018 10.21 0.36 0.36 10.41
Q1 2019 10.21 0.27 0.27 10.48
Q2 2019 10.21 0.10 0.10 10.60
Q3 2019 10.21 (0.01) (0.01) 10.57
Q4 2019 10.21 0.03 0.03 10.52
Q1 2020 10.21 (0.04) (0.04) -
Q2 2020 10.21 0.00 0.00 10.71
Q3 2020 10.21 0.22 0.22 10.90
Q4 2020 10.21 0.08 0.08 10.49
Q1 2021 10.21 0.35 0.35 10.77
Q2 2021 10.21 0.63 0.63 11.20
Q3 2021 10.21 0.60 0.60 11.36
Q4 2021 10.21 0.97 0.97 11.34
Q1 2022 10.21 0.92 0.92 11.57
Q2 2022 10.21 0.84 0.84 11.48
Q3 2022 10.21 0.73 0.73 11.53
Q4 2022 10.21 0.57 0.57 11.31
Q1 2023 10.21 0.28 0.28 11.25
Q2 2023 10.21 (0.42) (0.42) 10.90
Q3 2023 6.00 (1.26) (1.26) 10.57
Q4 2023 6.00 (2.33) (2.33) 13.30

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 - - 2.08
Q2 2017 - - 1.53
Q3 2017 12.56 12.56 1.22
Q4 2017 13.78 13.78 1.13
Q1 2018 13.78 13.78 1.04
Q2 2018 18.99 18.99 1.02
Q3 2018 16.85 16.85 0.87
Q4 2018 37.94 37.94 1.33
Q1 2019 44.26 44.26 1.12
Q2 2019 More than 100 More than 100 1.18
Q3 2019 NEG NEG 1.23
Q4 2019 More than 100 More than 100 2.72
Q1 2020 NEG NEG -
Q2 2020 More than 100 More than 100 5.34
Q3 2020 More than 100 More than 100 5.23
Q4 2020 More than 100 More than 100 6.24
Q1 2021 More than 100 More than 100 7.10
Q2 2021 More than 100 More than 100 6.86
Q3 2021 More than 100 More than 100 6.88
Q4 2021 76.83 76.83 6.59
Q1 2022 75.55 75.55 5.99
Q2 2022 70.06 70.06 5.12
Q3 2022 73.54 73.54 4.63
Q4 2022 86.37 86.37 4.33
Q1 2023 More than 100 More than 100 4.64
Q2 2023 NEG NEG 5.05
Q3 2023 NEG NEG 4.38
Q4 2023 NEG NEG 3.33

Business Segments (Million)

Compared With The
Period The commercial sector Industrial development
Q4 2019 12.87 9.85
Q1 2020 21.20 10.38
Q2 2020 39.50 22.22
Q4 2020 10.66 12.36
Q1 2021 22.44 16.22
Q2 2021 24.34 18.86
Q3 2021 18.07 14.53
Q4 2021 10.20 10.60
Q1 2022 23.87 17.61
Q2 2022 17.61 16.85
Q3 2022 16.19 13.37
Q4 2022 6.39 15.05
Q1 2023 29.39 12.04
Q2 2023 20.37 8.59
Q3 2023 24.80 14.44
Q4 2023 7.89 12.92

Current
Market Cap (M Riyal) 462.00
Enterprise Value (EV) (M) 450.80
Shares Outstanding ((M)) 12.00
EPS ( Riyal) (TTM) (0.74)
Book Value (BV) ( Riyal) 13.02
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 2.96
Return on Average Assets (%) (TTM) (4.26 )
Return on Average Equity (%) (TTM) (6.68 )

Share Price

38.50
(0.25) (0.65 %)

Al-Omran Industrial Trading Co. (ALOMRAN)


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