Thob Al Aseel net profit up 46% to SAR 27.8 mln in Q1 2023

Thob Al Aseel net profit up 46% to SAR 27.8 mln in Q1 2023

08/05/2023 Argaam Exclusive

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Thob Al Aseel Co. posted a net profit of SAR 27.8 million in Q1 2023, a 46% increase from SAR 19 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2022 Q1 2023 Change‬
Revenues 186.30 190.49 2.2 %
Gross Income 63.45 66.28 4.4 %
Operating Income 24.54 33.83 37.9 %
Net Income 18.98 27.76 46.3 %
Average Shares 400.00 400.00 -
EPS (Riyals) 0.05 0.07 46.3 %

The positive performance was driven by a 4.45% year-on-year (YoY) increase in gross profit to SAR 66.28 million during Q1 2023, due to the growth in sales and improved profit margins.

 

Meanwhile, provision for credit losses fell by 58% YoY on collection improvement.

 

Sequentially, net profit saw almost a four-fold increase from SAR 5.75 million in Q4 2022.

 

Shareholders’ equity, no minority interest, stood at SAR 570.42 million as of March 31, 2023, compared to SAR 568.23 million a year earlier.

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
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 188.60 - 70.31 - 41.20 - 0.10
Q2 2017 210.08 - 86.89 - 63.42 - 0.16
Q3 2017 66.38 - 24.47 - 8.27 - 0.02
Q4 2017 104.47 - 37.04 - 1.88 - 0.00
Q1 2018 82.47 (56.3 %) 32.33 (54.0 %) 14.16 (65.6 %) 0.04
Q2 2018 157.61 (25.0 %) 61.10 (29.7 %) 38.43 (39.4 %) 0.10
Q3 2018 61.19 (7.8 %) 22.54 (7.9 %) 1.73 (79.1 %) 0.00
Q4 2018 76.10 (27.2 %) 27.37 (26.1 %) 2.30 22.5 % 0.01
Q1 2019 101.18 22.7 % 39.91 23.4 % 16.20 14.4 % 0.04
Q2 2019 190.14 20.6 % 71.66 17.3 % 48.34 25.8 % 0.12
Q3 2019 79.65 30.2 % 29.16 29.4 % 5.21 200.9 % 0.01
Q4 2019 106.25 39.6 % 39.98 46.0 % 10.62 362.7 % 0.03
Q1 2020 117.46 16.1 % 42.98 7.7 % 17.51 8.1 % 0.04
Q2 2020 193.84 1.9 % 74.86 4.5 % 52.32 8.2 % 0.13
Q3 2020 110.08 38.2 % 31.57 8.2 % 5.92 13.6 % 0.01
Q4 2020 105.96 (0.3 %) 39.08 (2.2 %) 6.63 (37.6 %) 0.02
Q1 2021 138.84 18.2 % 47.56 10.6 % 13.97 (20.2 %) 0.03
Q2 2021 168.06 (13.3 %) 61.02 (18.5 %) 34.49 (34.1 %) 0.09
Q3 2021 83.33 (24.3 %) 30.66 (2.9 %) 3.58 (39.5 %) 0.01
Q4 2021 91.68 (13.5 %) 35.29 (9.7 %) 7.69 16.0 % 0.02
Q1 2022 186.30 34.2 % 63.45 33.4 % 18.98 35.8 % 0.05
Q2 2022 156.63 (6.8 %) 76.64 25.6 % 25.05 (27.4 %) 0.06
Q3 2022 65.43 (21.5 %) 28.68 (6.4 %) 3.66 2.2 % 0.01
Q4 2022 100.44 9.6 % 43.43 23.1 % 5.75 (25.2 %) 0.01
Q1 2023 190.49 2.2 % 66.28 4.4 % 27.76 46.3 % 0.07

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 38.40 % 22.72 % 20.89 %
Q1 2018 39.00 % 22.79 % 19.83 %
Q2 2018 37.71 % 20.25 % 16.29 %
Q3 2018 37.71 % 19.16 % 14.88 %
Q4 2018 37.99 % 20.11 % 15.90 %
Q1 2019 38.11 % 20.54 % 15.67 %
Q2 2019 37.68 % 22.02 % 16.79 %
Q3 2019 37.60 % 22.89 % 16.88 %
Q4 2019 37.87 % 22.92 % 16.84 %
Q1 2020 37.24 % 22.67 % 16.55 %
Q2 2020 37.61 % 23.26 % 17.23 %
Q3 2020 35.89 % 22.03 % 16.37 %
Q4 2020 35.74 % 21.07 % 15.62 %
Q1 2021 35.18 % 19.68 % 14.37 %
Q2 2021 34.27 % 17.67 % 11.67 %
Q3 2021 35.94 % 18.15 % 11.82 %
Q4 2021 36.21 % 18.77 % 12.39 %
Q1 2022 35.97 % 18.12 % 12.23 %
Q2 2022 39.78 % 16.71 % 10.68 %
Q3 2022 40.81 % 17.17 % 11.07 %
Q4 2022 41.71 % 17.97 % 11.19 %
Q1 2023 41.92 % 19.68 % 12.81 %


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 400.00 - - 1.32
Q2 2017 400.00 - - 1.48
Q3 2017 400.00 - - 1.35
Q4 2017 400.00 0.29 0.30 1.35
Q1 2018 400.00 0.22 0.23 1.39
Q2 2018 400.00 0.16 0.17 1.34
Q3 2018 400.00 0.14 0.15 1.34
Q4 2018 400.00 0.14 0.15 1.27
Q1 2019 400.00 0.15 0.16 1.31
Q2 2019 400.00 0.17 0.18 1.36
Q3 2019 400.00 0.18 0.19 1.29
Q4 2019 400.00 0.20 0.20 1.32
Q1 2020 400.00 0.20 0.20 1.27
Q2 2020 400.00 0.21 0.21 1.40
Q3 2020 400.00 0.22 0.22 1.34
Q4 2020 400.00 0.21 0.21 1.36
Q1 2021 400.00 0.20 0.20 1.39
Q2 2021 400.00 0.15 0.15 1.48
Q3 2021 400.00 0.15 0.15 1.43
Q4 2021 400.00 0.15 0.15 1.45
Q1 2022 400.00 0.16 0.16 1.42
Q2 2022 400.00 0.14 0.14 1.48
Q3 2022 400.00 0.14 0.14 1.42
Q4 2022 400.00 0.13 0.14 1.43
Q1 2023 400.00 0.16 0.16 1.43

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 - - -
Q2 2017 - - 1.56
Q3 2017 - - 1.95
Q4 2017 8.20 7.91 1.74
Q1 2018 10.35 9.88 1.63
Q2 2018 14.64 13.72 1.72
Q3 2018 13.62 12.67 1.43
Q4 2018 10.94 10.32 1.22
Q1 2019 14.50 13.71 1.62
Q2 2019 11.60 11.05 1.47
Q3 2019 14.16 13.52 1.97
Q4 2019 16.28 16.28 2.48
Q1 2020 16.53 16.53 2.66
Q2 2020 18.21 18.21 2.78
Q3 2020 19.73 19.73 3.18
Q4 2020 28.41 28.41 4.31
Q1 2021 29.91 29.91 4.24
Q2 2021 42.10 42.10 4.35
Q3 2021 43.99 43.99 4.51
Q4 2021 32.21 32.21 3.32
Q1 2022 27.41 27.41 3.12
Q2 2022 24.45 24.45 2.28
Q3 2022 26.69 26.69 2.61
Q4 2022 28.30 26.56 2.64
Q1 2023 24.17 22.89 2.64

Business Segments (Million)

Compared With The
Period Clothing sector Textiles sector Eliminations
Q1 2017 170.55 19.95 -
Q2 2017 171.92 36.26 -
Q3 2017 56.93 14.66 (0.45)
Q4 2017 76.79 25.14 -
Q1 2018 60.01 22.46 -
Q2 2018 124.16 33.44 -
Q3 2018 50.54 10.65 -
Q4 2018 55.01 21.09 -
Q1 2019 79.00 22.17 -
Q2 2019 157.71 32.43 -
Q3 2019 63.80 15.85 -
Q4 2019 81.00 25.25 -
Q1 2020 91.87 25.59 -
Q2 2020 175.32 18.52 -
Q3 2020 97.05 13.04 -
Q4 2020 76.52 29.44 -
Q1 2021 114.65 24.18 -
Q2 2021 142.39 25.67 -
Q3 2021 68.61 14.72 -
Q4 2021 64.71 26.97 -
Q1 2022 151.96 34.34 -
Q2 2022 132.92 23.71 -
Q3 2022 49.31 16.12 -
Q4 2022 73.10 27.34 -
Q1 2023 145.12 45.37 -


Financial Ratios
Current
Market Cap (M Riyal) 1,800.00
Enterprise Value (EV) (M) 1,672.06
Shares Outstanding ((M)) 400.00
EPS ( Riyal) (TTM) 0.22
Book Value (BV) ( Riyal) 1.46
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 20.18
P/E (TTM) 20.18
Price/book 3.08
Return on Average Assets (%) (TTM) 12.3
Return on Average Equity (%) (TTM) 15.4
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Share Price

Thob Al Aseel Co.
4.50
0.00 0.00 %

Thob Al Aseel Co. (ALASEEL)

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