Alujain earns SAR 66.1M in 9M 2024, SAR 45.8M in Q3

Alujain earns SAR 66.1M in 9M 2024, SAR 45.8M in Q3

31/10/2024 Argaam Exclusive

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Alujain Corp. turned to a net profit of SAR 66.1 million in the first nine months of 2024, against a net loss of SAR 15.5 million in the year-earlier period.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 1,221.37 1,197.19 (2.0 %)
Gross Income 210.06 210.98 0.4 %
Operating Income 93.77 99.19 5.8 %
Net Income (15.49) 66.07 526.5 %
Average Shares 69.20 69.20 -
EPS (Riyals) (0.22) 0.95 526.5 %

The positive results were attributed to a 9% year-on-year (YoY) rise in selling prices, as well as higher other and finance income from Murabaha agreements, and a better profit share from NATPET Schulman Specialty Plastic Compounds (NSSPC) joint venture.

 

On the other hand, Alujain reported a revenue drop due to a 4.6% YoY decrease in sales volumes. Propane prices increased 4.4%.

 



Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Revenues 422.44 338.23 (19.9 %)
Gross Income 87.54 59.13 (32.5 %)
Operating Income 43.25 22.59 (47.8 %)
Net Income 2.25 45.81 1936.0 %
Average Shares 69.20 69.20 -
EPS (Riyals) 0.03 0.66 1936.0 %

The three-month net profit skyrocketed to SAR 45.8 million from SAR 2.2 million in Q3 2023.


Similarly, net earnings more than tripled from SAR 14.6 million in Q2 2024.


Total shareholders’ equity, after minority interest, increased to SAR 3.60 billion as of Sept. 30, 2024, from SAR 2.56 billion a year earlier.

View more financial results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2015 220.70 (51.3 %) 15.04 (78.1 %) (3.29) (106.5 %)
Q2 2015 426.38 (23.8 %) 136.74 56.2 % 117.20 72.8 %
Q3 2015 412.62 (24.6 %) 129.69 13.2 % 109.62 15.1 %
Q4 2015 400.80 (30.0 %) 92.03 (43.7 %) 72.28 (49.2 %)
Q1 2016 305.60 38.5 % 51.56 242.8 % 28.94 980.3 %
Q2 2016 355.75 (16.6 %) 113.66 (16.9 %) 89.41 (23.7 %)
Q3 2016 - - - - (2.24) (102.0 %)
Q4 2016 441.61 10.2 % 106.39 15.6 % 83.43 15.4 %
Q1 2017 6.42 (97.9 %) 1.64 (96.8 %) (3.12) (110.8 %)
Q2 2017 7.96 (97.8 %) 2.52 (97.8 %) (2.46) (102.7 %)
Q3 2017 7.05 - 1.79 - (2.81) (25.3 %)
Q4 2017 6.90 (98.4 %) 1.38 (98.7 %) (3.99) (104.8 %)
Q1 2018 5.07 (21.0 %) (0.11) (106.9 %) (7.10) (127.7 %)
Q2 2018 7.05 (11.5 %) 1.76 (30.2 %) (2.14) 13.1 %
Q3 2018 6.74 (4.4 %) 1.42 (20.8 %) (2.34) 16.7 %
Q4 2018 7.02 1.8 % 1.57 14.2 % (3.69) 7.3 %
Q1 2019 4.75 (6.2 %) 0.82 823.0 % (2.39) 66.4 %
Q2 2019 6.56 (6.9 %) 1.75 (1.0 %) (1.03) 51.7 %
Q3 2019 6.69 (0.8 %) 1.61 13.3 % (1.57) 32.8 %
Q4 2019 5.73 (18.3 %) 1.53 (2.4 %) (6.72) (82.0 %)
Q1 2020 4.63 (2.5 %) 0.62 (24.7 %) (10.41) (336.4 %)
Q2 2020 2.61 (60.1 %) 0.04 (97.8 %) (4.01) (287.9 %)
Q3 2020 3.26 (51.2 %) 0.31 (80.9 %) (7.75) (392.9 %)
Q4 2020 3.87 (32.5 %) 0.38 (75.2 %) (4.08) 39.3 %
Q1 2021 4.76 2.7 % 0.74 20.7 % (4.15) 60.1 %
Q2 2021 5.25 100.7 % 0.79 1968.4 % (8.90) (122.1 %)
Q3 2021 6.53 100.4 % 1.32 332.0 % (1.86) 76.0 %
Q4 2021 502.76 12887.9 % 116.24 30488.4 % 72.55 1877.8 %
Q1 2022 509.37 10607.8 % 160.13 21480.3 % 89.26 2249.7 %
Q2 2022 574.64 10855.9 % 144.29 18256.9 % 64.17 821.2 %
Q3 2022 373.44 5616.2 % 25.65 1840.4 % 0.77 141.3 %
Q4 2022 453.73 (9.8 %) 73.62 (36.7 %) 4.19 (94.2 %)
Q1 2023 397.06 (22.0 %) 43.64 (72.7 %) 9.50 (89.4 %)
Q2 2023 401.87 (30.1 %) 78.88 (45.3 %) 39.71 (38.1 %)
Q3 2023 422.44 13.1 % 87.54 241.3 % 43.25 5538.9 %
Q4 2023 175.37 (61.4 %) 22.79 (69.0 %) (26.61) (734.7 %)
Q1 2024 478.21 20.4 % 79.25 81.6 % 34.40 262.0 %
Q2 2024 380.75 (5.3 %) 72.61 (8.0 %) 42.10 6.0 %
Q3 2024 338.23 (19.9 %) 59.13 (32.5 %) 22.59 (47.8 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2015 (16.83) (213.9 %) (0.24) - (16.83) (0.24)
Q2 2015 50.18 (4.5 %) 0.73 - 50.18 0.73
Q3 2015 45.56 30.7 % 0.66 - 45.56 0.66
Q4 2015 27.47 (57.9 %) 0.40 - 27.47 0.40
Q1 2016 2.76 116.4 % 0.04 - 2.76 0.04
Q2 2016 38.61 (23.1 %) 0.56 - 38.61 0.56
Q3 2016 36.82 (19.2 %) 0.53 - 36.82 0.53
Q4 2016 35.75 30.1 % 0.52 - 35.75 0.52
Q1 2017 28.85 945.0 % 0.42 - 28.85 0.42
Q2 2017 12.49 (67.6 %) 0.18 - 12.49 0.18
Q3 2017 36.12 (1.9 %) 0.52 - 36.12 0.52
Q4 2017 58.73 64.3 % 0.85 15.98 42.75 0.62
Q1 2018 62.46 116.5 % 0.90 - 62.46 0.90
Q2 2018 63.99 412.2 % 0.92 - 63.99 0.92
Q3 2018 27.59 (23.6 %) 0.40 - 27.59 0.40
Q4 2018 (49.29) (183.9 %) (0.71) - (49.29) (0.71)
Q1 2019 (78.72) (226.0 %) (1.14) - (78.72) (1.14)
Q2 2019 (71.01) (211.0 %) (1.03) - (71.01) (1.03)
Q3 2019 (108.46) (493.1 %) (1.57) - (108.46) (1.57)
Q4 2019 449.33 1011.6 % 6.49 455.28 (5.94) (0.09)
Q1 2020 (46.37) 41.1 % (0.67) - (46.37) (0.67)
Q2 2020 182.98 357.7 % 2.64 189.42 (6.44) (0.09)
Q3 2020 15.92 114.7 % 0.23 - 15.92 0.23
Q4 2020 54.75 (87.8 %) 0.79 - 54.75 0.79
Q1 2021 60.30 230.1 % 0.87 - 60.30 0.87
Q2 2021 91.96 (49.7 %) 1.33 - 91.96 1.33
Q3 2021 56.74 256.4 % 0.82 - 56.74 0.82
Q4 2021 1,413.31 2481.2 % 20.42 1,351.86 61.45 0.89
Q1 2022 55.78 (7.5 %) 0.81 - 55.78 0.81
Q2 2022 62.97 (31.5 %) 0.91 24.31 38.66 0.56
Q3 2022 18.73 (67.0 %) 0.27 41.26 (22.53) (0.33)
Q4 2022 (72.94) (105.2 %) (1.05) (2.71) (70.23) (1.01)
Q1 2023 (20.88) (137.4 %) (0.30) - (20.88) (0.30)
Q2 2023 3.14 (95.0 %) 0.05 - 3.14 0.05
Q3 2023 2.25 (88.0 %) 0.03 (4.03) 6.28 0.09
Q4 2023 (66.72) 8.5 % (0.96) - (66.72) (0.96)
Q1 2024 5.62 126.9 % 0.08 - 5.62 0.08
Q2 2024 14.63 365.8 % 0.21 - 14.63 0.21
Q3 2024 45.81 1936.0 % 0.66 - 45.81 0.66

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2015 20.02 % 25.57 % 5.60 %
Q2 2015 24.32 % 30.57 % 7.55 %
Q3 2015 27.25 % 34.52 % 8.83 %
Q4 2015 25.57 % 34.60 % 7.28 %
Q1 2016 26.53 % 34.30 % 8.15 %
Q2 2016 26.24 % 34.67 % 7.76 %
Q3 2016 24.22 % 22.88 % 9.95 %
Q4 2016 24.63 % 37.91 % 10.33 %
Q1 2017 27.58 % 43.11 % 17.42 %
Q2 2017 24.24 % 42.30 % 24.98 %
Q3 2017 24.26 % 63.98 % 24.45 %
Q4 2017 25.86 % (32.42 %) 424.48 %
Q1 2018 20.67 % (48.29 %) 570.29 %
Q2 2018 18.47 % (49.39 %) 787.98 %
Q3 2018 17.25 % (45.68 %) 764.27 %
Q4 2018 17.92 % (46.65 %) 404.89 %
Q1 2019 21.78 % (28.23 %) (142.52 %)
Q2 2019 22.14 % (23.78 %) (683.83 %)
Q3 2019 22.94 % (24.31 %) (1229.13 %)
Q4 2019 24.02 % (33.71 %) (1113.02 %)
Q1 2020 23.29 % (67.88 %) (981.62 %)
Q2 2020 19.28 % (96.28 %) (850.20 %)
Q3 2020 15.34 % (154.61 %) (263.70 %)
Q4 2020 9.31 % (157.22 %) 124.27 %
Q1 2021 10.11 % (113.35 %) 858.72 %
Q2 2021 12.92 % (124.86 %) 1,301.19 %
Q3 2021 15.83 % (76.02 %) 1,292.51 %
Q4 2021 22.93 % 16.59 % 52.08 %
Q1 2022 27.20 % 22.11 % 25.97 %
Q2 2022 26.48 % 21.89 % 13.34 %
Q3 2022 22.77 % 20.35 % 6.80 %
Q4 2022 21.12 % 18.09 % 0.09 %
Q1 2023 15.97 % 14.87 % (4.17 %)
Q2 2023 13.64 % 14.84 % (6.80 %)
Q3 2023 16.94 % 16.90 % (4.88 %)
Q4 2023 16.67 % 18.43 % (5.60 %)
Q1 2024 18.16 % 19.07 % (3.50 %)
Q2 2024 18.00 % 19.48 % (2.76 %)
Q3 2024 17.03 % - (0.05 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2015 69.20 1.96 1.54 12.97
Q2 2015 69.20 1.93 1.93 13.78
Q3 2015 69.20 2.08 2.08 14.44
Q4 2015 69.20 1.54 1.54 14.99
Q1 2016 69.20 1.82 1.82 15.03
Q2 2016 69.20 1.65 1.65 15.67
Q3 2016 69.20 1.53 1.53 16.25
Q4 2016 69.20 1.65 1.65 16.75
Q1 2017 69.20 2.02 2.02 17.16
Q2 2017 69.20 1.65 1.65 16.33
Q3 2017 69.20 1.64 1.64 16.83
Q4 2017 69.20 1.97 1.74 17.59
Q1 2018 69.20 2.45 2.22 18.49
Q2 2018 69.20 3.20 2.97 19.44
Q3 2018 69.20 3.07 2.84 19.82
Q4 2018 69.20 1.51 1.51 18.85
Q1 2019 69.20 (0.53) (0.53) 17.70
Q2 2019 69.20 (2.48) (2.48) 16.39
Q3 2019 69.20 (4.44) (4.44) 14.82
Q4 2019 69.20 2.76 (3.82) 21.36
Q1 2020 69.20 3.23 (3.35) 20.67
Q2 2020 69.20 6.90 (2.42) 23.32
Q3 2020 69.20 8.70 (0.62) 23.60
Q4 2020 69.20 3.00 0.26 24.43
Q1 2021 69.20 4.54 1.80 25.31
Q2 2021 69.20 3.22 3.22 26.64
Q3 2021 69.20 3.81 3.81 27.46
Q4 2021 69.20 23.44 3.91 37.74
Q1 2022 69.20 23.38 3.84 38.29
Q2 2022 69.20 22.96 3.07 38.13
Q3 2022 69.20 22.41 1.93 38.40
Q4 2022 69.20 0.93 0.02 37.30
Q1 2023 69.20 (0.18) (1.08) 37.00
Q2 2023 69.20 (1.04) (1.60) 37.04
Q3 2023 69.20 (1.28) (1.18) 37.08
Q4 2023 69.20 (1.19) (1.13) 43.82
Q1 2024 69.20 (0.80) (0.75) 43.54
Q2 2024 69.20 (0.64) (0.58) 51.48
Q3 2024 69.20 (0.01) (0.01) 52.14

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2015 10.18 12.99 1.54
Q2 2015 10.93 10.93 1.53
Q3 2015 7.63 7.63 1.10
Q4 2015 9.37 9.37 0.96
Q1 2016 7.84 7.84 0.95
Q2 2016 7.88 7.88 0.83
Q3 2016 8.08 8.08 0.76
Q4 2016 11.94 11.94 1.17
Q1 2017 10.13 10.13 1.19
Q2 2017 13.36 13.36 1.35
Q3 2017 13.48 13.48 1.31
Q4 2017 10.82 12.25 1.21
Q1 2018 10.05 11.09 1.33
Q2 2018 9.72 10.48 1.60
Q3 2018 10.20 11.02 1.58
Q4 2018 12.86 12.86 1.03
Q1 2019 NEG NEG 1.28
Q2 2019 NEG NEG 1.32
Q3 2019 NEG NEG 1.29
Q4 2019 10.86 NEG 1.40
Q1 2020 7.39 NEG 1.16
Q2 2020 3.87 NEG 1.14
Q3 2020 5.10 NEG 1.88
Q4 2020 15.71 More than 100 1.93
Q1 2021 10.73 27.06 1.92
Q2 2021 17.48 17.48 2.11
Q3 2021 17.74 17.74 2.46
Q4 2021 2.30 13.82 1.43
Q1 2022 2.77 16.84 1.69
Q2 2022 2.53 18.94 1.53
Q3 2022 2.19 25.43 1.28
Q4 2022 39.94 More than 100 1.00
Q1 2023 NEG NEG 0.99
Q2 2023 NEG NEG 1.20
Q3 2023 NEG NEG 1.19
Q4 2023 NEG NEG 0.92
Q1 2024 NEG NEG 0.94
Q2 2024 NEG NEG 0.81
Q3 2024 NEG NEG 0.81

Business Segments (Million)

Compared With The
Period Petrochemicals Manufacturing Manufacturing home care products
Q1 2017 - 6.42
Q2 2017 - 7.96
Q3 2017 - 7.05
Q4 2017 - 6.90
Q1 2018 - 5.07
Q2 2018 - 7.05
Q3 2018 - 6.74
Q4 2018 - 7.02
Q1 2019 - 4.75
Q2 2019 - 6.56
Q3 2019 - 6.69
Q4 2019 - 5.73
Q1 2020 - 4.63
Q2 2020 - 2.61
Q3 2020 - 3.26
Q4 2020 - 3.87
Q1 2021 - 4.76
Q2 2021 - 5.25
Q3 2021 - 6.53
Q4 2021 495.39 7.37
Q1 2022 503.77 5.60
Q2 2022 570.29 4.35
Q3 2022 367.58 5.86
Q4 2022 447.64 6.09
Q1 2023 391.17 5.89
Q2 2023 397.30 4.57
Q3 2023 421.32 1.12
Q4 2023 175.37 -
Q1 2024 478.21 -
Q2 2024 380.75 -
Q3 2024 338.23 -

Analysts Estimates (Million)

Item Q3 2024 (e) Q3 2024 (a) Change‬
Average 21.74 45.81 110.77 %

Estimates vs Actual (Million)

Item Q3 2024 (e) Q3 2024 (a) Change
GIB Capital 29.00 45.81 58.0 %
Sico 24.20 45.81 89.3 %
OSOOL AND BAKHEET 19.34 45.81 136.9 %
AlJazira Capital 14.40 45.81 218.1 %


Financial Ratios
Current
Market Cap (M Riyal) 2,629.60
Enterprise Value (EV) (M) 2,968.69
Shares Outstanding ((M)) 69.20
EPS ( Riyal) (TTM) (0.01)
Book Value (BV) ( Riyal) 52.14
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 0.73
Return on Average Assets (%) (TTM) (0.01 )
Return on Average Equity (%) (TTM) (0.02 )
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Share Price

Alujain Corp.
38.00
0.00 0.00 %

Alujain Corp. (ALUJAIN)

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