Raoom’s H1 2024 profit up 2% to SAR 28.3M; Q2 at SAR 4.4M

25/07/2024 Argaam Exclusive

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Raoom Trading Co. reported a net profit rise of 2% to SAR 28.3 million in the first half of 2024, compared to SAR 27.7 million a year earlier, thanks to the lower cost of goods sold.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	68.48	59.80	(12.7 %)
Gross Income	21.51	21.75	1.1 %
Operating Income	15.59	15.44	(1.0 %)
Net Income	27.69	28.31	2.2 %
Average Shares	6.25	6.25	-
EPS (Riyals)	4.43	4.53	2.2 %

On the other hand, operating profits marginally declined to SAR 15.4 million in the six-month period, from SAR 15.6 million in H1 2023.

Sales also decreased by 12.67% year-on-year (YoY) to SAR 59.8 million, from SAR 68.5 million in the first half of 2023.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2023	H1 2024	Change‬
Revenues	68.48	59.80	(12.7 %)
Gross Income	21.51	21.75	1.1 %
Operating Income	15.59	15.44	(1.0 %)
Net Income	27.69	28.31	2.2 %
Average Shares	6.25	6.25	-
EPS (Riyals)	4.43	4.53	2.2 %

Item	H2 2023	H1 2024	Change‬
Revenues	66.57	59.80	(10.2 %)
Gross Income	21.79	21.75	(0.2 %)
Operating Income	16.41	15.44	(5.9 %)
Net Income	18.88	28.31	50.0 %
Average Shares	6.25	6.25	-
EPS (Riyals)	3.02	4.53	50.0 %

The second-quarter net profit tumbled 71% to SAR 4.4 million, from SAR 14.8 million in Q3 2023 as Raoom recorded SAR 11.5 million profits from revaluation of financial assets at fair value in Q2 2023.

Operating profits jumped 20% YoY to SAR 4.9 million.

The company’s net earnings slumped 81.8% from SAR 23.9 million in Q1 2024 hurt by a 53% quarterly fall in operating profits to SAR 4.9 million.

Shareholders’ equity, no minority interest, stood at SAR 155.34 million as of June 30, 2024, compared to SAR 128.35 million a year earlier.

Historical Quarterly Data
Period	Revenues (SAR mln)	Net Profit (SAR mln)	EPS (SAR/Share)
H1 2020	55.67	16.05	2.57
H2 2020	53.19	10.02	1.60
H1 2021	55.72	15.40	2.46
H2 2021	54.47	9.49	1.52
H1 2022	65.04	16.24	2.60
H2 2022	70.19	14.50	2.32
H1 2023	68.48	27.69	4.43
H2 2023	66.56	18.89	3.02
H1 2024	59.80	28.31	4.53

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	96.65	-	30.95	-	20.88	-
H1 2020	55.67	-	22.09	-	17.64	-
H2 2020	53.19	-	17.28	-	11.30	-
2020	108.86	12.6 %	39.36	27.2 %	28.94	38.6 %
H1 2021	55.72	0.1 %	22.18	0.4 %	16.82	(4.6 %)
H2 2021	54.47	2.4 %	15.81	(8.5 %)	10.76	(4.8 %)
2021	110.19	1.2 %	38.00	(3.5 %)	27.58	(4.7 %)
H1 2022	65.04	16.7 %	21.99	(0.9 %)	17.66	5.0 %
H2 2022	70.19	28.8 %	21.72	37.4 %	16.48	53.2 %
2022	135.23	22.7 %	43.71	15.0 %	34.14	23.8 %
H1 2023	68.48	5.3 %	21.51	(2.2 %)	15.59	(11.7 %)
H2 2023	66.57	(5.2 %)	21.79	0.3 %	16.41	(0.4 %)
2023	135.04	(0.1 %)	43.29	(0.9 %)	32.00	(6.3 %)
H1 2024	59.80	(12.7 %)	21.75	1.1 %	15.44	(1.0 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	96.65	-	30.95	-	20.88	-
2020	108.86	12.6 %	39.36	27.2 %	28.94	38.6 %
2021	110.19	1.2 %	38.00	(3.5 %)	27.58	(4.7 %)
2022	135.23	22.7 %	43.71	15.0 %	34.14	23.8 %
2023	135.04	(0.1 %)	43.29	(0.9 %)	32.00	(6.3 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	17.05	-	2.73	-	17.05	2.73
H1 2020	16.05	-	2.57	-	16.05	2.57
H2 2020	10.02	-	1.60	-	10.02	1.60
2020	26.07	52.9 %	4.17	-	26.07	4.17
H1 2021	15.40	(4.1 %)	2.46	-	15.40	2.46
H2 2021	9.49	(5.3 %)	1.52	-	9.49	1.52
2021	24.88	(4.5 %)	3.98	-	24.88	3.98
H1 2022	16.24	5.5 %	2.60	-	16.24	2.60
H2 2022	14.50	52.9 %	2.32	-	14.50	2.32
2022	30.74	23.6 %	4.92	-	30.74	4.92
H1 2023	27.69	70.5 %	4.43	14.01	13.69	2.19
H2 2023	18.88	30.2 %	3.02	3.23	15.66	2.50
2023	46.58	51.5 %	7.45	17.24	29.34	4.69
H1 2024	28.31	2.2 %	4.53	14.75	13.56	2.17

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	17.05	-	2.73	-	17.05	2.73
2020	26.07	52.9 %	4.17	-	26.07	4.17
2021	24.88	(4.5 %)	3.98	-	24.88	3.98
2022	30.74	23.6 %	4.92	-	30.74	4.92
2023	46.58	51.5 %	7.45	17.24	29.34	4.69

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
H1 2015	-	-	-
H2 2015	-	-	-
2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
2016	-	-	-
H1 2017	-	-	-
H2 2017	-	-	-
2017	-	-	-
H1 2018	-	-	-
H2 2018	-	-	-
2018	-	-	-
H1 2019	-	-	-
H2 2019	-	-	-
2019	32.02 %	30.47 %	17.64 %
H1 2020	-	-	-
H2 2020	36.16 %	34.07 %	23.95 %
2020	36.16 %	34.07 %	23.95 %
H1 2021	36.23 %	31.95 %	23.34 %
H2 2021	34.48 %	30.09 %	22.58 %
2021	34.48 %	30.09 %	22.58 %
H1 2022	31.63 %	28.37 %	21.52 %
H2 2022	32.32 %	29.26 %	22.73 %
2022	32.32 %	29.26 %	22.73 %
H1 2023	31.18 %	27.04 %	20.33 %
H2 2023	-	-	-
2023	32.06 %	27.80 %	21.73 %
H1 2024	-	-	-

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	32.02 %	30.47 %	17.64 %
2020	36.16 %	34.07 %	23.95 %
2021	34.48 %	30.09 %	22.58 %
2022	32.32 %	29.26 %	22.73 %
2023	32.06 %	27.80 %	21.73 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
H1 2015	-	-	-
H2 2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
H1 2017	-	-	-
H2 2017	-	-	-
H1 2018	-	-	-
H2 2018	-	-	-
H1 2019	-	-	-
H2 2019	-	-	-
H1 2020	39.68 %	39.38 %	28.83 %
H2 2020	32.48 %	28.50 %	18.84 %
H1 2021	39.81 %	35.25 %	27.63 %
H2 2021	29.03 %	24.82 %	17.42 %
H1 2022	33.80 %	31.34 %	24.97 %
H2 2022	30.95 %	27.33 %	20.67 %
H1 2023	31.41 %	26.73 %	19.99 %
H2 2023	32.73 %	28.89 %	23.52 %
H1 2024	36.37 %	30.42 %	22.68 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
H1 2015	-	-	-	-
H2 2015	-	-	-	-
H1 2016	-	-	-	-
H2 2016	-	-	-	-
H1 2017	-	-	-	-
H2 2017	-	-	-	-
H1 2018	-	-	-	-
H2 2018	-	-	-	-
H1 2019	-	-	-	-
H2 2019	-	-	-	-
H1 2020	6.25	-	-	-
H2 2020	6.25	4.17	4.17	13.87
H1 2021	6.25	4.07	4.07	14.09
H2 2021	6.25	3.98	3.98	15.27
H1 2022	6.25	4.12	4.12	16.87
H2 2022	6.25	4.92	4.92	17.13
H1 2023	6.25	6.75	4.51	20.54
H2 2023	6.25	-	-	21.83
H1 2024	6.25	-	-	24.86

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	-	-	-	-
2019	6.25	2.73	2.73	22.31
2020	6.25	4.17	4.17	13.87
2021	6.25	3.98	3.98	15.27
2022	6.25	4.92	4.92	17.13
2023	6.25	7.45	4.69	21.83

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
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	28.94	28.94	7.06
H2 2022	22.97	22.97	6.60
H1 2023	16.11	24.12	5.30
H2 2023	-	-	5.38
H1 2024	-	-	5.33

Period	P/E	Adjusted P/E	Price/book
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-
2022	22.97	22.97	6.60
2023	15.75	25.01	5.38

Business Segments (Million)

Compared With The

Period	Glass	Plastic and acrylic
Q2 2022	46.44	18.60
Q4 2022	57.56	12.63
Q2 2023	51.42	17.06
Q4 2023	55.46	11.11
Q2 2024	44.54	15.25

Period	Glass	Plastic and acrylic
2022	104.00	31.23
2023	106.87	28.17

Financial Ratios

	Current
Market Cap (M Riyal)	1,105.00
Enterprise Value (EV) (M)	1,025.45
Shares Outstanding ((M))	6.25
Book Value (BV) ( Riyal)	21.83
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	37.66
Price/book	8.10

Raoom Trading Co. (RAOOM)

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Raoom’s H1 2024 profit up 2% to SAR 28.3M; Q2 at SAR 4.4M

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Financials (M)

Current Half Annual Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2024 Q2

Financial Ratios

Share Price

Raoom Trading Co. (RAOOM)

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Raoom’s H1 2024 profit up 2% to SAR 28.3M; Q2 at SAR 4.4M

View other reports

Financials (M)

Current Half Annual Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q2 2024

Revenue by Business Segment (Latest) 2024 Q2

Financial Ratios

Share Price

Raoom Trading Co. (RAOOM)

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Business Segments (Million)