Al-Omran trims losses to SAR 880,800 in H1 2024, SAR 1M in Q2

Al-Omran trims losses to SAR 880,800 in H1 2024, SAR 1M in Q2

08/08/2024 Argaam Exclusive

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Al-Omran Industrial Trading Co. narrowed the first-half net losses to SAR 880,800, from SAR 4.2 million in the first half of 2023.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 70.39 81.52 15.8 %
Gross Income 9.74 13.33 36.9 %
Operating Income (1.33) 0.43 132.0 %
Net Income (4.24) (0.88) 79.2 %
Average Shares 10.21 12.00 17.6 %
EPS (Riyals) (0.42) (0.07) 82.3 %

The H1 2024 net losses decreased as revenue jumped 16% year-on-year (YoY).

 

The cost of sales to revenue declined to 2% amid a YoY drop of 28% in finance costs. Al-Omran recorded financing income of SAR 790,000. It also lowered its inventory and debts by 25% and 65%, respectively in the same period.



Current Quarter Comparison (M)

Compared With The
Item Q2 2023 Q2 2024 Change‬
Revenues 28.96 33.61 16.0 %
Gross Income 3.52 6.04 71.6 %
Operating Income (2.08) (0.54) 73.8 %
Net Income (3.61) (1.01) 72.1 %
Average Shares 10.21 12.00 17.6 %
EPS (Riyals) (0.35) (0.08) 76.2 %

In Q2 2024, net losses fell by 72.1% to SAR 1 million, from SAR 3.61 million in the year-earlier period. Revenue climbed 16% YoY due to adding new customers and opening new markets.

 

Al-Omran earned SAR 130,000 in Q1 2024. It recorded negative results quarter-on-quarter as revenue dipped 30% on a sequential basis due to a market recession.

 

Shareholders’ equity, after minority interest, increased to SAR 158.59 million as of June 30, 2024, compared to SAR 111.22 million a year earlier.

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %)
Q1 2024 47.92 15.6 % 7.29 17.2 % 0.97 30.5 %
Q2 2024 33.61 16.0 % 6.04 71.6 % (0.54) 73.8 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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)
Q1 2024 0.13 120.0 % 0.01 - 0.13 0.01
Q2 2024 (1.01) 72.1 % (0.08) - (1.01) (0.08)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %)
Q1 2024 15.05 % (0.29 %) (9.67 %)
Q2 2024 16.34 % 1.21 % (7.51 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q1 2024 12.00 (1.10) (1.10) 13.31
Q2 2024 12.00 (0.89) (0.89) 13.22

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q1 2024 NEG NEG 3.02
Q2 2024 NEG NEG 2.92

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
Q1 2024 31.91 16.01
Q2 2024 21.29 12.32


Financial Ratios
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 )
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Share Price

Al-Omran Industrial Trading Co.
38.50
(0.25) (0.65 %)

Al-Omran Industrial Trading Co. (ALOMRAN)

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