Raoom Trading 9M 2024 net profit up 8% to SAR 39.2M

Raoom Trading 9M 2024 net profit up 8% to SAR 39.2M

04/11/2024 Argaam Exclusive

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Raoom Trading Co. reported a net profit of SAR 39.2 million for the first nine months of 2024, up 8% from SAR 36.4 million in the year-earlier period.


Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 100.61 87.11 (13.4 %)
Gross Income 32.97 30.06 (8.8 %)
Operating Income 24.21 19.90 (17.8 %)
Net Income 36.43 39.28 7.8 %
Average Shares 6.25 6.25 -
EPS (Riyals) 5.83 6.29 7.8 %

Q3 2024 net profit stood at SAR 11 million, an increase from SAR 8.74 million in the third quarter last year. The third-quarter profit growth was dented by the 15% year-on-year topline drop to SAR 27.3 million amid lower average selling prices.

 

On a sequential basis, net earnings more than doubled from SAR 4.4 million in Q2 2024. This came as revenues advanced by 2% quarter-on-quarter (QoQ) to SAR 27.3 million, driven by the elevated sales volumes.



Current Half Annual Comparison (M)

Compared With The
Item 2023 2024 Change‬
Revenues 32.13 27.32 (15.0 %)
Gross Income 11.47 8.31 (27.6 %)
Operating Income 8.62 4.46 (48.3 %)
Net Income 8.74 10.97 25.5 %
Average Shares 6.25 6.25 -
EPS (Riyals) 1.40 1.76 25.5 %
Total shareholders’ equity (no minority interest) advanced to SAR 161.96 million by Sept. 30, 2024, compared to SAR 129.19 million a year earlier.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 55.67 - 22.09 - 17.64 -
H2 2020 53.19 - 17.28 - 11.30 -
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 %)
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 %
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 %)
H1 2024 59.80 (12.7 %) 21.75 1.1 % 15.44 (1.0 %)


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 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 16.05 - 2.57 - 16.05 2.57
H2 2020 10.02 - 1.60 - 10.02 1.60
H1 2021 15.40 (4.1 %) 2.46 - 15.40 2.46
H2 2021 9.49 (5.3 %) 1.52 - 9.49 1.52
H1 2022 16.24 5.5 % 2.60 - 16.24 2.60
H2 2022 14.50 52.9 % 2.32 - 14.50 2.32
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
H1 2024 28.31 2.2 % 4.53 14.75 13.56 2.17

Profitability

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 - - -
H2 2020 36.16 % 34.07 % 23.95 %
H1 2021 36.23 % 31.95 % 23.34 %
H2 2021 34.48 % 30.09 % 22.58 %
H1 2022 31.63 % 28.37 % 21.52 %
H2 2022 32.32 % 29.26 % 22.73 %
H1 2023 31.18 % 27.04 % 20.33 %
H2 2023 - - -
H1 2024 - - -


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

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

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


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
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Share Price

Raoom Trading Co.
175.20
(1.60) (0.90 %)

Raoom Trading Co. (RAOOM)

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