Sadr earns SAR 898,000 in H1 2023, incurs SAR 2.4 mln loss in Q2

Sadr earns SAR 898,000 in H1 2023, incurs SAR 2.4 mln loss in Q2

10/08/2023 Argaam Exclusive

View other reports

Sadr Logistics Co. reported a net profit of SAR 898,000 in H1 2023 against a net loss of SAR 2.8 million a year earlier.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 36.25 58.01 60.1 %
Gross Income 6.53 10.35 58.5 %
Operating Income (2.10) 0.55 126.2 %
Net Income (2.82) 0.90 131.8 %
Average Shares 175.00 175.00 -
EPS (Riyals) (0.02) 0.01 131.8 %

The company posted a 60% year-on-year (YoY) rise in sales across the board.

 

It also reported better revenues from its finance leasing contract with the US-based Avenger Flight Co. Investment profits surged 112% YoY on higher interest rates and short-term Murabaha contracts with local banks.



Current Quarter Comparison (M)

Compared With The
Item Q2 2022 Q2 2023 Change‬
Revenues 16.48 17.20 4.4 %
Gross Income 3.22 2.51 (22.1 %)
Operating Income (0.75) (2.57) (241.2 %)
Net Income (1.00) (2.39) (139.9 %)
Average Shares 175.00 175.00 -
EPS (Riyals) (0.01) (0.01) (139.9 %)

In Q2 2023, the company widened net losses to SAR 2.39 million from SAR 1 million in the prior-year period. Sadr recorded an 11% YoY increase in the cost of goods sold, along with higher operating expenses (OpEx) as well as selling and distribution expenses.

 

The company swung to losses in the second quarter from a net profit of SAR 3.29 million in Q1 2023 due to a 58% quarter-on-quarter fall in sales. Sadr also recorded higher selling and distribution expenses, as well as general and administrative expenses.

 

Shareholders’ equity, no minority interest, declined to SAR 177.13 million as of June 30, 2023, from SAR 180.04 million in the corresponding period in 2022.



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 - - - - - -
Q1 2017 14.75 - 6.39 - 3.00 -
Q2 2017 9.04 - 3.16 - 1.11 -
Q3 2017 10.64 - 3.37 - 1.33 -
Q4 2017 11.76 - 4.36 - 0.87 -
Q1 2018 11.94 (19.1 %) 4.06 (36.4 %) 1.67 (44.3 %)
Q2 2018 10.68 18.2 % 3.14 (0.6 %) 0.87 (21.3 %)
Q3 2018 9.26 (13.0 %) 3.17 (6.0 %) 0.93 (30.3 %)
Q4 2018 7.65 (34.9 %) 0.41 (90.5 %) (2.19) (351.0 %)
Q1 2019 7.78 (34.8 %) 1.75 (57.0 %) (0.88) (152.9 %)
Q2 2019 11.02 3.2 % 2.66 (15.5 %) 0.16 (81.2 %)
Q3 2019 12.05 30.1 % 3.13 (1.3 %) 0.37 (59.7 %)
Q4 2019 11.19 46.2 % 2.28 453.0 % (1.33) 39.3 %
Q1 2020 10.26 32.0 % 2.35 34.4 % (0.31) 65.0 %
Q2 2020 10.79 (2.0 %) 3.91 47.3 % 1.65 904.3 %
Q3 2020 11.65 (3.4 %) 3.52 12.6 % 0.77 105.6 %
Q4 2020 21.58 92.9 % 4.90 114.7 % 1.81 236.1 %
Q1 2021 14.88 45.0 % 4.41 88.2 % 0.77 348.2 %
Q2 2021 16.08 49.0 % 4.02 2.8 % 0.71 (56.8 %)
Q3 2021 21.03 80.6 % 9.25 162.9 % 3.41 343.5 %
Q4 2021 21.24 (1.6 %) 3.66 (25.4 %) 0.64 (64.9 %)
Q1 2022 19.77 32.9 % 3.31 (25.1 %) (1.35) (275.9 %)
Q2 2022 16.48 2.5 % 3.22 (19.8 %) (0.75) (205.7 %)
Q3 2022 33.56 59.5 % 3.61 (61.0 %) (1.25) (136.6 %)
Q4 2022 41.02 93.1 % 5.37 46.9 % (1.27) (300.2 %)
Q1 2023 40.82 106.5 % 7.84 136.9 % 3.12 331.3 %
Q2 2023 17.20 4.4 % 2.51 (22.1 %) (2.57) (241.2 %)


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 - - - - - -
Q1 2017 2.57 - 0.02 - 2.57 0.02
Q2 2017 1.08 - 0.01 - 1.08 0.01
Q3 2017 1.14 - 0.01 - 1.14 0.01
Q4 2017 0.89 - 0.01 - 0.89 0.01
Q1 2018 1.52 (41.0 %) 0.01 - 1.52 0.01
Q2 2018 0.83 (22.9 %) 0.01 - 0.83 0.01
Q3 2018 0.86 (24.6 %) 0.01 - 0.86 0.01
Q4 2018 (2.75) (409.7 %) (0.02) (0.82) (1.93) (0.01)
Q1 2019 (0.85) (156.0 %) (0.01) - (0.85) (0.01)
Q2 2019 0.23 (72.7 %) 0.00 - 0.23 0.00
Q3 2019 0.26 (70.4 %) 0.00 - 0.26 0.00
Q4 2019 (1.54) 44.2 % (0.01) - (1.54) (0.01)
Q1 2020 (0.33) 61.8 % 0.00 - (0.33) 0.00
Q2 2020 1.55 581.1 % 0.01 - 1.55 0.01
Q3 2020 0.55 116.9 % 0.00 - 0.55 0.00
Q4 2020 0.81 152.5 % 0.01 - 0.81 0.01
Q1 2021 0.60 284.9 % 0.00 - 0.60 0.00
Q2 2021 0.25 (84.2 %) 0.00 - 0.25 0.00
Q3 2021 2.67 383.0 % 0.02 - 2.67 0.02
Q4 2021 0.08 (89.9 %) 0.00 - 0.08 0.00
Q1 2022 (1.83) (404.3 %) (0.01) - (1.83) (0.01)
Q2 2022 (1.00) (506.3 %) (0.01) - (1.00) (0.01)
Q3 2022 (2.62) (198.1 %) (0.01) - (2.62) (0.01)
Q4 2022 (1.77) (2268.9 %) (0.01) - (1.77) (0.01)
Q1 2023 3.29 279.8 % 0.02 - 3.29 0.02
Q2 2023 (2.39) (139.9 %) (0.01) - (2.39) (0.01)

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 - - -
Q4 2017 37.41 % 16.36 % 12.30 %
Q1 2018 34.47 % 13.95 % 10.67 %
Q2 2018 33.17 % 12.90 % 9.74 %
Q3 2018 33.75 % 12.45 % 9.40 %
Q4 2018 27.28 % 6.11 % 3.24 %
Q1 2019 23.94 % (0.14 %) (3.07 %)
Q2 2019 22.35 % (1.91 %) (4.74 %)
Q3 2019 20.62 % (3.10 %) (5.97 %)
Q4 2019 23.34 % (0.62 %) (4.53 %)
Q1 2020 23.38 % 0.71 % (3.10 %)
Q2 2020 26.34 % 4.09 % (0.14 %)
Q3 2020 27.47 % 6.56 % 0.54 %
Q4 2020 27.04 % 14.77 % 4.75 %
Q1 2021 28.43 % 18.84 % 5.95 %
Q2 2021 26.26 % 18.96 % 3.44 %
Q3 2021 30.70 % 21.98 % 5.88 %
Q4 2021 29.14 % 20.50 % 4.91 %
Q1 2022 25.90 % 16.46 % 1.50 %
Q2 2022 24.76 % 14.76 % (0.09 %)
Q3 2022 15.15 % 8.28 % (5.89 %)
Q4 2022 14.00 % 5.69 % (6.51 %)
Q1 2023 15.20 % 8.72 % (1.59 %)
Q2 2023 14.58 % 7.70 % (2.63 %)


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 - - - -
Q1 2017 153.96 - - 0.23
Q2 2017 153.96 - - 0.24
Q3 2017 153.96 - - 0.25
Q4 2017 153.96 0.04 0.04 0.25
Q1 2018 153.96 0.03 0.03 0.26
Q2 2018 153.96 0.03 0.03 0.25
Q3 2018 153.96 0.03 0.03 0.26
Q4 2018 153.96 0.00 0.01 0.24
Q1 2019 153.96 (0.01) (0.01) 0.23
Q2 2019 153.96 (0.02) (0.01) 0.22
Q3 2019 153.96 (0.02) (0.01) 0.22
Q4 2019 153.96 (0.01) (0.01) 0.21
Q1 2020 153.96 (0.01) (0.01) -
Q2 2020 153.96 0.00 0.00 0.22
Q3 2020 153.96 0.00 0.00 -
Q4 2020 153.96 0.02 0.02 0.22
Q1 2021 153.96 0.02 0.02 0.23
Q2 2021 153.96 0.01 0.01 0.22
Q3 2021 153.96 0.03 0.03 0.24
Q4 2021 175.00 0.02 0.02 1.04
Q1 2022 175.00 0.01 0.01 1.03
Q2 2022 175.00 0.00 0.00 1.03
Q3 2022 175.00 (0.03) (0.03) 1.01
Q4 2022 175.00 (0.04) (0.04) 1.01
Q1 2023 175.00 (0.01) (0.01) 1.03
Q2 2023 175.00 (0.02) (0.02) 1.01

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 - - 5.28
Q2 2017 - - 4.24
Q3 2017 - - 3.30
Q4 2017 24.63 24.63 3.61
Q1 2018 29.79 29.79 3.46
Q2 2018 31.84 31.84 3.58
Q3 2018 31.18 31.18 3.21
Q4 2018 More than 100 89.56 3.14
Q1 2019 NEG NEG 3.97
Q2 2019 NEG NEG 3.71
Q3 2019 NEG NEG 3.49
Q4 2019 NEG NEG 11.71
Q1 2020 NEG NEG -
Q2 2020 NEG NEG 5.86
Q3 2020 More than 100 More than 100 -
Q4 2020 More than 100 More than 100 18.38
Q1 2021 More than 100 More than 100 28.64
Q2 2021 More than 100 More than 100 30.88
Q3 2021 More than 100 More than 100 32.85
Q4 2021 More than 100 More than 100 9.80
Q1 2022 More than 100 More than 100 6.78
Q2 2022 NEG NEG 3.94
Q3 2022 NEG NEG 4.29
Q4 2022 NEG NEG 3.21
Q1 2023 NEG NEG 3.50
Q2 2023 NEG NEG 4.00

Business Segments (Million)

Compared With The
Period Steel Wood Logistics Others Metal products and metal shelves Wooden Pallets Plastic Pallets Forklifts
Q1 2017 10.20 3.52 - 1.03 - - - -
Q2 2017 6.87 1.89 - 0.28 - - - -
Q3 2017 6.69 1.99 - 1.96 - - - -
Q1 2018 9.11 1.69 - 1.13 - - - -
Q2 2018 7.56 1.60 - 1.52 - - - -
Q3 2018 6.90 1.49 - 0.87 - - - -
Q4 2018 4.74 1.70 - 1.21 - - - -
Q1 2019 5.51 2.08 - 0.19 - - - -
Q2 2019 7.64 2.46 - 0.93 - - - -
Q3 2019 7.24 2.52 - 2.28 - - - -
Q4 2019 7.60 3.38 - 0.21 - - - -
Q1 2020 7.12 2.40 - 0.74 - - - -
Q2 2020 7.30 2.15 - 1.34 - - - -
Q3 2020 6.14 2.38 1.70 1.42 - - - -
Q4 2020 7.54 2.76 2.79 8.49 - - - -
Q1 2021 7.23 2.95 3.31 1.38 - - - -
Q2 2021 7.43 3.42 3.64 1.59 - - - -
Q3 2021 7.00 3.85 9.27 0.92 - - - -
Q4 2021 11.89 4.82 3.67 0.87 - - - -
Q1 2022 8.72 6.40 4.02 0.63 - - - -
Q2 2022 9.47 3.26 3.49 0.25 - - - -
Q3 2022 10.85 18.61 3.64 0.45 - - - -
Q4 2022 11.34 23.89 4.13 1.66 - - - -
Q1 2023 11.30 22.63 5.16 1.72 - - - -
Q2 2023 9.53 3.76 3.86 0.04 - - - -

Current
Market Cap (M Riyal) 574.00
Enterprise Value (EV) (M) 572.45
Shares Outstanding ((M)) 175.00
EPS ( Riyal) (TTM) (0.07)
Book Value (BV) ( Riyal) 0.94
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 3.49
Return on Average Assets (%) (TTM) (4.59 )
Return on Average Equity (%) (TTM) (6.72 )

Share Price

3.29
0.00 0.00 %

Sadr Logistics Co. (SADR)


Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.