Atlas Elevators H1 2023 profit jumps 58% to SAR 8.3 mln

Atlas Elevators H1 2023 profit jumps 58% to SAR 8.3 mln

05/10/2023 Argaam Exclusive

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Atlas Elevators General Trading & Contracting Co. reported a 58% rise in H1 2023 net profit to SAR 8.3 million, compared to SAR 5.3 million in the first half of 2022.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 37.61 33.55 (10.8 %)
Gross Income 13.45 15.99 18.9 %
Operating Income 5.08 7.75 52.6 %
Net Income 5.20 8.25 58.5 %
Average Shares 4.80 4.80 -
EPS (Riyals) 1.08 1.72 58.5 %

The profit growth was driven by lower cost of sales.



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 37.61 33.55 (10.8 %)
Gross Income 13.45 15.99 18.9 %
Operating Income 5.08 7.75 52.6 %
Net Income 5.20 8.25 58.5 %
Average Shares 4.80 4.80 -
EPS (Riyals) 1.08 1.72 58.5 %

Shareholders' equity, no minority interest, reached SAR 68.86 million at the end of the period, compared to SAR 58.49 million a year before.

 

Historical Change of Financial Data

Period

Revenue (SAR mln)

Net Profit (SAR mln)

EPS (SAR/Share)

H1 2022

37.61

5.27

1.10

H2 2022

39.73

4.26

0.89

H1 2023

33.55

8.30

1.73

 

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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 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 - - - - - -
H2 2020 - - - - - -
H1 2021 79.29 - 26.93 - 10.73 -
H2 2021 - - - - - -
H1 2022 37.61 (52.6 %) 13.45 (50.1 %) 5.08 (52.7 %)
H2 2022 39.74 - 11.64 - 3.93 -
H1 2023 33.55 (10.8 %) 15.99 18.9 % 7.75 52.6 %


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 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 - - - - - -
H2 2020 - - - - - -
H1 2021 10.68 - 2.23 - 10.68 2.23
H2 2021 - - - - - -
H1 2022 5.20 (51.3 %) 1.08 - 5.20 1.08
H2 2022 4.32 - 0.90 - 4.32 0.90
H1 2023 8.25 58.5 % 1.72 - 8.25 1.72

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 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 33.97 % 18.02 % 13.47 %
H2 2021 - - -
H1 2022 - - -
H2 2022 32.43 % 16.51 % 12.32 %
H1 2023 37.69 % 20.94 % 17.16 %


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 - - - -
H2 2017 - - - -
H1 2018 - - - -
H2 2018 - - - -
H1 2019 - - - -
H2 2019 - - - -
H1 2020 - - - -
H2 2020 - - - -
H1 2021 4.80 4.45 4.45 11.60
H2 2021 - - - -
H1 2022 4.80 - - 12.19
H2 2022 4.80 1.99 1.99 13.13
H1 2023 4.80 2.62 2.62 14.35

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 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 - - -
H1 2022 - - -
H2 2022 - - -
H1 2023 - - -

Business Segments (Million)

Compared With The
Period Installation Maintenance of elevators installed by the company Third-party elevator maintenance
Q2 2022 34.36 3.05 0.20
Q4 2022 34.52 5.03 0.19
Q2 2023 30.35 2.82 0.38


Financial Ratios
Current
Market Cap (M Riyal) 115.20
Enterprise Value (EV) (M) 85.85
Shares Outstanding ((M)) 6.00
Book Value (BV) ( Riyal) 15.40
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 15.65
Price/book 1.25
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Share Price

Atlas Elevators General Trading and Contracting Co.
19.20
(0.02) (0.10 %)

Atlas Elevators General Trading and Contracting Co. (ATLAS ELEVATORS)

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