Al Kathiri’s profit down 37% to SAR 2M in 9M 2024; Q3 at SAR 1.6M

Al Kathiri’s profit down 37% to SAR 2M in 9M 2024; Q3 at SAR 1.6M

06/11/2024 Argaam Exclusive

View other reports

Al Kathiri Holding Co. reported a net profit of SAR 2 million for the first nine months of 2024, a decline of 37% from SAR 3.2 million in the prior-year period.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 94.79 142.78 50.6 %
Gross Income 21.38 20.00 (6.5 %)
Operating Income 8.19 9.46 15.6 %
Net Income 3.23 2.03 (37.2 %)
Average Shares 226.04 226.04 -
EPS (Halala) 1.43 0.90 (37.2 %)

The profit drop was attributed to the higher cost of revenues and funding expenses.

 

This was partially offset by the growth in revenues of contracting, ready-mix concrete and cement segments, where the revenues of current period reached SAR 142 million, with a growth rate of 50%, compared to the same period of the previous year.



Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Revenues 30.00 54.68 82.3 %
Gross Income 8.48 7.38 (13.0 %)
Operating Income 3.27 4.17 27.4 %
Net Income 1.03 1.55 50.5 %
Average Shares 226.04 226.04 -
EPS (Halala) 0.46 0.69 50.5 %

Q3 2024 net earnings rose 50.5% YoY to SAR 1.55 million from SAR 1.03 million in Q3 2023, driven by higher sales revenue.

 

Sequentially, net profit surged 564.4% from SAR 230,000.

 

Total shareholders’ equity, after minority interest, stood at SAR 133.1 million by Sept. 30, 2024, compared to SAR 138.4 million in the prior-year period.



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 - - - - - -
Q1 2017 2.03 - 0.22 - 0.10 -
Q2 2017 9.59 - 2.99 - 1.86 -
Q3 2017 14.44 - 5.53 - 4.09 -
Q4 2017 16.92 - 3.11 - 1.76 -
Q1 2018 13.80 580.6 % 4.08 1795.8 % 2.24 2143.0 %
Q2 2018 12.75 32.9 % 3.92 31.4 % 2.20 18.1 %
Q3 2018 13.67 (5.4 %) 5.49 (0.8 %) 3.48 (15.0 %)
Q4 2018 10.27 (39.3 %) 2.38 (23.5 %) 1.76 0.1 %
Q1 2019 26.10 89.2 % 7.80 91.3 % 4.54 102.4 %
Q2 2019 17.90 40.4 % 5.62 43.1 % 3.14 42.6 %
Q3 2019 18.02 31.8 % 6.68 21.6 % 4.20 20.9 %
Q4 2019 26.36 156.6 % 7.81 228.7 % 5.04 186.7 %
Q1 2020 25.57 (2.0 %) 7.48 (4.0 %) 4.06 (10.6 %)
Q2 2020 15.24 (14.9 %) 1.94 (65.4 %) (0.71) (122.6 %)
Q3 2020 26.55 47.4 % 5.76 (13.7 %) 2.55 (39.4 %)
Q4 2020 37.08 40.6 % 11.78 50.8 % 4.46 (11.5 %)
Q1 2021 35.21 37.7 % 9.90 32.3 % 4.50 10.7 %
Q2 2021 40.19 163.7 % 11.81 508.0 % 3.37 574.4 %
Q3 2021 41.48 56.2 % 11.37 97.3 % 5.44 113.5 %
Q4 2021 11.90 (67.9 %) 7.15 (39.3 %) 0.00 (100.0 %)
Q1 2022 25.27 (28.2 %) 1.03 (89.6 %) (1.60) (135.6 %)
Q2 2022 20.73 (48.4 %) (0.59) (105.0 %) (2.83) (183.9 %)
Q3 2022 32.56 (21.5 %) 4.02 (64.6 %) 2.20 (59.6 %)
Q4 2022 50.81 327.1 % 10.61 48.4 % 5.45 545100.0 %
Q1 2023 32.11 27.1 % 5.62 445.6 % 2.44 252.6 %
Q2 2023 32.67 57.6 % 7.29 1329.0 % 2.47 187.5 %
Q3 2023 30.00 (7.8 %) 8.48 110.9 % 3.27 48.7 %
Q4 2023 34.40 (32.3 %) 1.38 (87.0 %) (4.86) (189.1 %)
Q1 2024 45.64 42.1 % 5.85 4.2 % 2.64 8.0 %
Q2 2024 42.46 30.0 % 6.76 (7.2 %) 2.66 7.6 %
Q3 2024 54.68 82.3 % 7.38 (13.0 %) 4.17 27.4 %


Profit Performance (Million)

Period Net Income Change EPS(Halala) 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 - - - - - -
Q1 2017 0.09 - 0.04 - 0.09 0.00
Q2 2017 1.77 - 0.83 - 1.77 0.01
Q3 2017 3.27 - 1.53 (0.78) 4.05 0.02
Q4 2017 1.52 - 0.71 - 1.52 0.01
Q1 2018 2.27 2365.2 % 1.06 - 2.27 0.01
Q2 2018 2.27 28.2 % 1.06 - 2.27 0.01
Q3 2018 3.40 3.9 % 1.59 - 3.40 0.02
Q4 2018 1.37 (9.6 %) 0.64 - 1.37 0.01
Q1 2019 4.57 101.5 % 2.14 - 4.57 0.02
Q2 2019 3.01 32.7 % 1.41 - 3.01 0.01
Q3 2019 4.15 22.1 % 1.94 - 4.15 0.02
Q4 2019 4.29 212.4 % 2.01 - 4.29 0.02
Q1 2020 3.63 (20.6 %) 1.70 - 3.63 0.02
Q2 2020 (1.29) (143.0 %) (0.60) - (1.29) (0.01)
Q3 2020 2.64 (36.4 %) 1.23 - 2.64 0.01
Q4 2020 4.69 9.1 % 2.07 - 4.69 0.02
Q1 2021 4.18 15.1 % 1.85 - 4.18 0.02
Q2 2021 3.07 337.6 % 1.36 - 3.07 0.01
Q3 2021 4.49 70.2 % 1.99 - 4.49 0.02
Q4 2021 (3.07) (165.6 %) (1.36) (1.61) (1.47) (0.01)
Q1 2022 (2.06) (149.3 %) (0.91) - (2.06) (0.01)
Q2 2022 (3.46) (212.7 %) (1.53) - (3.46) (0.02)
Q3 2022 1.58 (64.7 %) 0.70 - 1.58 0.01
Q4 2022 5.65 283.8 % 2.50 2.46 3.19 0.01
Q1 2023 1.56 175.9 % 0.69 - 1.56 0.01
Q2 2023 0.64 118.5 % 0.28 - 0.64 0.00
Q3 2023 1.03 (35.0 %) 0.46 - 1.03 0.00
Q4 2023 (7.37) (230.5 %) (3.26) - (7.37) (0.03)
Q1 2024 0.24 (84.5 %) 0.11 - 0.24 0.00
Q2 2024 0.23 (63.5 %) 0.10 - 0.23 0.00
Q3 2024 1.55 50.5 % 0.69 - 1.55 0.01

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 - - -
Q4 2017 27.55 % 23.34 % 17.28 %
Q1 2018 28.68 % 24.22 % 17.54 %
Q2 2018 28.73 % 24.51 % 17.45 %
Q3 2018 29.05 % 24.71 % 16.54 %
Q4 2018 31.43 % 28.84 % 18.43 %
Q1 2019 31.20 % 27.05 % 18.49 %
Q2 2019 31.32 % 26.38 % 18.18 %
Q3 2019 31.08 % 25.75 % 18.12 %
Q4 2019 31.57 % 24.95 % 18.12 %
Q1 2020 31.41 % 24.45 % 17.16 %
Q2 2020 28.07 % 20.81 % 12.65 %
Q3 2020 24.54 % 17.17 % 9.89 %
Q4 2020 25.82 % 14.90 % 9.25 %
Q1 2021 25.75 % 14.30 % 8.95 %
Q2 2021 28.23 % 15.10 % 10.48 %
Q3 2021 29.13 % 15.87 % 10.67 %
Q4 2021 31.23 % 16.25 % 7.98 %
Q1 2022 26.38 % 13.92 % 3.40 %
Q2 2022 19.07 % 11.74 % (2.51 %)
Q3 2022 12.83 % 11.00 % (5.97 %)
Q4 2022 11.64 % 12.74 % (0.58 %)
Q1 2023 14.43 % 15.23 % 2.11 %
Q2 2023 18.59 % 17.69 % 4.71 %
Q3 2023 21.98 % 18.78 % 4.41 %
Q4 2023 17.63 % 13.21 % (3.20 %)
Q1 2024 16.12 % 12.17 % (3.83 %)
Q2 2024 14.74 % 11.56 % (3.85 %)
Q3 2024 12.06 % - (3.02 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Halala) Adjusted EPS (Halala) Book Value (BV)
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 - - - -
Q2 2016 - - - -
Q3 2016 - - - -
Q4 2016 - - - -
Q1 2017 213.84 - - 0.13
Q2 2017 213.84 - - 0.16
Q3 2017 213.84 - - 0.21
Q4 2017 213.84 3.11 3.47 0.21
Q1 2018 213.84 4.13 4.49 0.23
Q2 2018 213.84 4.36 4.73 0.24
Q3 2018 213.84 4.42 4.42 0.25
Q4 2018 213.84 4.35 4.35 0.26
Q1 2019 213.84 5.43 5.43 0.28
Q2 2019 213.84 5.77 5.77 0.29
Q3 2019 213.84 6.13 6.13 0.31
Q4 2019 213.84 7.49 7.49 0.33
Q1 2020 213.84 7.05 7.05 0.35
Q2 2020 213.84 5.04 5.04 0.34
Q3 2020 213.84 4.33 4.33 0.36
Q4 2020 226.04 4.27 4.27 0.56
Q1 2021 226.04 4.52 4.52 0.57
Q2 2021 226.04 6.45 6.45 0.59
Q3 2021 226.04 7.27 7.27 0.61
Q4 2021 226.04 3.83 4.54 0.59
Q1 2022 226.04 1.07 1.79 0.58
Q2 2022 226.04 (1.82) (1.11) 0.57
Q3 2022 226.04 (3.10) (2.39) 0.57
Q4 2022 226.04 0.76 (0.33) 0.60
Q1 2023 226.04 2.36 1.27 0.61
Q2 2023 226.04 4.17 3.09 0.61
Q3 2023 226.04 3.93 2.84 0.61
Q4 2023 226.04 (1.83) (1.83) 0.58
Q1 2024 226.04 (2.42) (2.42) 0.58
Q2 2024 226.04 (2.60) (2.60) 0.58
Q3 2024 226.04 (2.37) (2.37) 0.59

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 - - -
Q2 2017 - - -
Q3 2017 - - 1.43
Q4 2017 10.94 9.79 1.58
Q1 2018 8.22 7.55 1.51
Q2 2018 9.60 8.86 1.77
Q3 2018 10.53 10.53 1.85
Q4 2018 25.14 25.14 4.24
Q1 2019 16.11 16.11 3.13
Q2 2019 23.32 23.32 4.59
Q3 2019 16.43 16.43 3.22
Q4 2019 39.36 39.36 8.85
Q1 2020 25.82 25.82 5.20
Q2 2020 40.34 40.34 5.91
Q3 2020 84.82 84.82 10.33
Q4 2020 79.43 79.43 6.11
Q1 2021 86.77 86.77 6.83
Q2 2021 65.00 65.00 7.14
Q3 2021 55.95 55.95 6.70
Q4 2021 91.16 76.90 5.91
Q1 2022 More than 100 More than 100 5.69
Q2 2022 NEG NEG 3.90
Q3 2022 NEG NEG 3.83
Q4 2022 More than 100 NEG 2.97
Q1 2023 More than 100 More than 100 5.62
Q2 2023 74.02 More than 100 5.08
Q3 2023 74.32 More than 100 4.77
Q4 2023 NEG NEG 4.59
Q1 2024 NEG NEG 4.72
Q2 2024 NEG NEG 4.57
Q3 2024 NEG NEG 4.84

Business Segments (Million)

Compared With The
Period Concrete sales Cement sales Special projects Concrete wall sales Construction Revenue others
Q1 2021 13.66 12.50 1.52 - - 7.52
Q2 2021 15.04 11.65 - - - 13.50
Q3 2021 19.93 13.39 0.51 - - 7.65
Q1 2022 17.43 6.36 1.48 - - -
Q2 2022 13.82 4.46 0.42 2.03 - -
Q3 2022 22.01 4.27 0.25 6.03 - -
Q4 2022 44.20 4.98 0.05 1.58 - -
Q1 2023 21.02 4.05 5.34 1.70 - -
Q2 2023 21.91 1.41 0.07 2.55 - 6.72
Q3 2023 21.73 1.28 5.82 1.16 - -
Q4 2023 26.98 3.16 - 4.17 0.09 -
Q1 2024 27.76 6.90 8.39 2.57 - 0.01
Q2 2024 25.41 14.99 0.01 2.05 - -

Current
Market Cap (M Riyal) 599.01
Enterprise Value (EV) (M) 681.40
Shares Outstanding ((M)) 226.04
EPS (Halala) (TTM) (2.37)
Book Value (BV) ( Riyal) 0.59
Par Value ( Halala) 50.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 4.50
Return on Average Assets (%) (TTM) (1.79 )
Return on Average Equity (%) (TTM) (3.94 )

Share Price

2.65
0.00 0.00 %

Al Kathiri Holding Co. (ALKATHIRI)


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.