Saudi Paper profit leaps to SAR 72.9M in 2023; Q4 at SAR 20.8M

14/03/2024 Argaam Exclusive

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Saudi Paper Manufacturing Co. (SPM) posted a 55.5% profit rise to SAR 72.9 million in 2023, from SAR 46.9 million in the year-earlier period.

Financials (M)

Item	2022	2023	Change‬
Revenues	691.87	811.08	17.2 %
Gross Income	171.57	247.57	44.3 %
Operating Income	47.16	115.18	144.2 %
Net Income	46.89	72.94	55.5 %
Average Shares	37.07	37.07	-
EPS (Riyals)	1.27	1.97	55.5 %

The profit growth was driven by a 17.2% year-on-year (YoY) increase in sales, on better sales of paper rolls as the new production line commenced operations in April 2023. Accordingly, SPM’s selling capacity improved by 31% to meet the needs of local and regional markets.

The company also reported a decline in production costs and lower provisions for trade receivables in 2023, on the collection of customer dues, which in turn bolstered SPM’s liquidity.

On the other hand, selling and marketing expenses increased by SAR 14.3 million. Finance costs rose by SAR 12.6 million, on higher interest rates locally and globally.

SPM allocated an additional Zakat provision of SAR 5.2 million in 2023 for the previous year after an initial assessment by the Zakat, Tax and Customs Authority (ZATCA).

The fourth-quarter bottom line more than tripled to SAR 20.8 million from SAR 6.3 million in Q4 2022.

On a sequential basis, the paper manufacturer’s net profit decreased by 7.1% from SAR 22.4 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2022	Q4 2023	Change‬
Revenues	189.25	196.13	3.6 %
Gross Income	43.29	63.99	47.8 %
Operating Income	8.84	33.45	278.4 %
Net Income	6.33	20.82	229.0 %
Average Shares	37.07	37.07	-
EPS (Riyals)	0.17	0.56	229.0 %

Item	Q3 2023	Q4 2023	Change‬
Revenues	195.49	196.13	0.3 %
Gross Income	67.27	63.99	(4.9 %)
Operating Income	31.68	33.45	5.6 %
Net Income	22.42	20.82	(7.2 %)
Average Shares	37.07	37.07	-
EPS (Riyals)	0.60	0.56	(7.2 %)

Total shareholders’ equity, after minority interest, reached SAR 472.61 million as of Dec. 31, 2023, up from SAR 401.32 million a year earlier.

View More Financial Results

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2014	205.50	(0.6 %)	46.17	27.3 %	16.20	167.4 %
Q2 2014	204.50	(3.9 %)	53.10	(2.5 %)	21.00	(12.5 %)
Q3 2014	179.76	(7.6 %)	41.62	(8.4 %)	13.44	(35.7 %)
Q4 2014	167.96	(18.3 %)	38.38	13.4 %	4.28	(9.0 %)
2014	757.72	(7.6 %)	179.26	5.4 %	54.90	(6.6 %)
Q1 2015	185.48	(9.7 %)	46.76	1.3 %	15.28	(5.7 %)
Q2 2015	165.36	(19.1 %)	38.39	(27.7 %)	5.76	(72.6 %)
Q3 2015	112.79	(37.3 %)	18.07	(56.6 %)	(29.56)	(319.9 %)
Q4 2015	137.23	(18.3 %)	18.17	(52.7 %)	(31.76)	(842.4 %)
2015	600.57	(20.7 %)	111.01	(38.1 %)	(43.31)	(178.9 %)
Q1 2016	140.09	(24.5 %)	29.26	(37.4 %)	0.23	(98.5 %)
Q2 2016	130.25	(21.2 %)	30.69	(20.1 %)	2.21	(61.7 %)
Q3 2016	100.73	(10.7 %)	16.72	(7.4 %)	(11.56)	60.9 %
Q4 2016	106.21	(22.6 %)	18.06	(0.6 %)	(21.73)	31.6 %
2016	477.27	(20.5 %)	94.43	(14.9 %)	(31.16)	28.1 %
Q1 2017	128.52	(8.3 %)	27.62	(5.6 %)	2.23	872.5 %
Q2 2017	121.39	(6.8 %)	30.89	0.6 %	5.21	136.1 %
Q3 2017	138.45	37.4 %	31.21	86.6 %	6.31	154.6 %
Q4 2017	127.46	20.0 %	34.82	92.8 %	(13.91)	36.0 %
2017	515.82	8.1 %	124.54	31.9 %	(0.17)	99.5 %
Q1 2018	170.33	32.5 %	40.08	45.1 %	13.04	485.5 %
Q2 2018	107.48	(11.5 %)	12.38	(59.9 %)	(14.14)	(371.4 %)
Q3 2018	114.26	(17.5 %)	13.79	(55.8 %)	(16.02)	(354.0 %)
Q4 2018	149.40	17.2 %	14.92	(57.2 %)	(7.56)	45.7 %
2018	541.46	5.0 %	83.16	(33.2 %)	(24.69)	(14,771.7 %)
Q1 2019	155.10	(8.9 %)	25.03	(37.5 %)	(1.20)	(109.2 %)
Q2 2019	121.88	13.4 %	16.78	35.5 %	(8.19)	42.1 %
Q3 2019	121.76	6.6 %	28.19	104.4 %	2.07	112.9 %
Q4 2019	128.39	(14.1 %)	26.49	77.6 %	3.96	152.4 %
2019	527.13	(2.6 %)	99.00	19.0 %	(0.85)	96.5 %
Q1 2020	145.87	(6.0 %)	41.76	66.9 %	14.96	1343.5 %
Q2 2020	142.67	17.1 %	39.68	136.5 %	17.57	314.5 %
Q3 2020	124.29	2.1 %	38.82	37.7 %	15.77	662.5 %
Q4 2020	119.25	(7.1 %)	26.61	0.5 %	12.97	227.5 %
2020	532.09	0.9 %	146.87	48.4 %	61.27	7277.1 %
Q1 2021	158.49	8.6 %	45.12	8.0 %	19.48	30.2 %
Q2 2021	141.26	(1.0 %)	43.41	9.4 %	20.81	18.4 %
Q3 2021	141.86	14.1 %	31.63	(18.5 %)	6.23	(60.5 %)
Q4 2021	147.19	23.4 %	15.89	(40.3 %)	(8.91)	(168.7 %)
2021	588.80	10.7 %	136.05	(7.4 %)	37.62	(38.6 %)
Q1 2022	194.70	22.8 %	48.50	7.5 %	18.50	(5.0 %)
Q2 2022	146.29	3.6 %	41.10	(5.3 %)	7.01	(66.3 %)
Q3 2022	161.64	13.9 %	38.68	22.3 %	12.82	105.6 %
Q4 2022	189.25	28.6 %	43.29	172.4 %	8.84	199.2 %
2022	691.87	17.5 %	171.57	26.1 %	47.16	25.4 %
Q1 2023	217.28	11.6 %	52.18	7.6 %	18.69	1.1 %
Q2 2023	202.18	38.2 %	64.13	56.0 %	31.35	347.4 %
Q3 2023	195.49	20.9 %	67.27	73.9 %	31.68	147.2 %
Q4 2023	196.13	3.6 %	63.99	47.8 %	33.45	278.4 %
2023	811.08	17.2 %	247.57	44.3 %	115.18	144.2 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	757.72	(7.6 %)	179.26	5.4 %	54.90	(6.6 %)
2015	600.57	(20.7 %)	111.01	(38.1 %)	(43.31)	(178.9 %)
2016	477.27	(20.5 %)	94.43	(14.9 %)	(31.16)	28.1 %
2017	515.82	8.1 %	124.54	31.9 %	(0.17)	99.5 %
2018	541.46	5.0 %	83.16	(33.2 %)	(24.69)	(14,771.7 %)
2019	527.13	(2.6 %)	99.00	19.0 %	(0.85)	96.5 %
2020	532.09	0.9 %	146.87	48.4 %	61.27	7277.1 %
2021	588.80	10.7 %	136.05	(7.4 %)	37.62	(38.6 %)
2022	691.87	17.5 %	171.57	26.1 %	47.16	25.4 %
2023	811.08	17.2 %	247.57	44.3 %	115.18	144.2 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2014	8.13	1069.9 %	0.28	-	8.13	0.28
Q2 2014	12.05	29.1 %	0.41	-	12.05	0.41
Q3 2014	2.78	(80.7 %)	0.10	-	2.78	0.10
Q4 2014	2.10	149.5 %	0.07	-	2.11	0.07
2014	25.07	(20.3 %)	0.86	-	25.07	0.86
Q1 2015	4.86	(40.2 %)	0.17	-	4.86	0.17
Q2 2015	(3.39)	(128.1 %)	(0.12)	(2.00)	(1.39)	(0.05)
Q3 2015	(71.13)	(2654.9 %)	(2.45)	(20.28)	(50.85)	(1.75)
Q4 2015	(44.37)	(2212.9 %)	(1.53)	(6.28)	(38.09)	(1.31)
2015	(127.11)	(607.1 %)	(4.37)	(28.56)	(98.55)	(3.39)
Q1 2016	(7.23)	(248.6 %)	(0.25)	-	(7.23)	(0.25)
Q2 2016	(7.34)	(116.6 %)	(0.25)	-	(7.34)	(0.25)
Q3 2016	(21.63)	69.6 %	(0.74)	-	(21.63)	(0.74)
Q4 2016	(35.19)	20.7 %	(1.21)	-	(35.19)	(1.21)
2016	(71.69)	43.6 %	(2.47)	-	(71.69)	(2.47)
Q1 2017	(6.57)	9.0 %	(0.23)	-	(6.57)	(0.23)
Q2 2017	(3.92)	46.5 %	(0.13)	-	(3.92)	(0.13)
Q3 2017	(3.28)	84.8 %	(0.11)	-	(3.28)	(0.11)
Q4 2017	(34.89)	0.9 %	(1.20)	-	(34.89)	(1.20)
2017	(48.67)	32.1 %	(1.67)	-	(48.67)	(1.67)
Q1 2018	4.60	170.0 %	0.16	(8.82)	13.42	0.46
Q2 2018	(10.43)	(165.9 %)	(0.36)	5.01	(15.44)	(0.53)
Q3 2018	(37.41)	(1,041.4 %)	(1.29)	2.46	(39.87)	(1.37)
Q4 2018	(62.49)	(79.1 %)	(2.15)	-	(62.49)	(2.15)
2018	(115.45)	(137.2 %)	(3.97)	(1.35)	(114.10)	(3.92)
Q1 2019	23.32	406.7 %	0.80	36.12	(12.80)	(0.44)
Q2 2019	(15.53)	(48.9 %)	(0.53)	4.75	(20.28)	(0.70)
Q3 2019	(24.29)	35.1 %	(0.84)	3.00	(27.29)	(0.94)
Q4 2019	(11.39)	81.8 %	(0.39)	(9.93)	(1.46)	(0.05)
2019	(27.88)	75.8 %	(0.96)	33.94	(61.83)	(2.13)
Q1 2020	1.06	(95.5 %)	0.04	(3.50)	4.56	0.16
Q2 2020	3.83	124.7 %	0.13	(3.50)	7.33	0.25
Q3 2020	3.98	116.4 %	0.14	(3.50)	7.48	0.26
Q4 2020	6.24	154.8 %	0.21	(3.15)	9.39	0.32
2020	15.10	154.2 %	0.52	(13.65)	28.75	0.99
Q1 2021	14.06	1231.1 %	0.44	-	14.06	0.44
Q2 2021	15.14	295.5 %	0.47	-	15.14	0.47
Q3 2021	0.15	(96.2 %)	0.00	-	0.15	0.00
Q4 2021	0.93	(85.1 %)	0.03	14.52	(13.59)	(0.42)
2021	30.28	100.5 %	0.95	14.52	15.76	0.49
Q1 2022	13.30	(5.4 %)	0.42	-	13.30	0.42
Q2 2022	21.06	39.1 %	0.66	18.90	2.16	0.07
Q3 2022	6.21	4052.2 %	0.19	-	6.21	0.19
Q4 2022	6.33	581.1 %	0.17	5.30	1.03	0.03
2022	46.89	54.9 %	1.27	24.20	22.69	0.61
Q1 2023	8.55	(35.7 %)	0.23	-	8.55	0.23
Q2 2023	21.15	0.4 %	0.57	-	21.15	0.57
Q3 2023	22.42	261.2 %	0.60	-	22.42	0.60
Q4 2023	20.82	229.0 %	0.56	(3.32)	24.13	0.65
2023	72.94	55.5 %	1.97	(3.32)	76.25	2.06

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	25.07	(20.3 %)	0.86	-	25.07	0.86
2015	(127.11)	(607.1 %)	(4.37)	(28.56)	(98.55)	(3.39)
2016	(71.69)	43.6 %	(2.47)	-	(71.69)	(2.47)
2017	(48.67)	32.1 %	(1.67)	-	(48.67)	(1.67)
2018	(115.45)	(137.2 %)	(3.97)	(1.35)	(114.10)	(3.92)
2019	(27.88)	75.8 %	(0.96)	33.94	(61.83)	(2.13)
2020	15.10	154.2 %	0.52	(13.65)	28.75	0.99
2021	30.28	100.5 %	0.95	14.52	15.76	0.49
2022	46.89	54.9 %	1.27	24.20	22.69	0.61
2023	72.94	55.5 %	1.97	(3.32)	76.25	2.06

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	21.99 %	14.07 %	3.38 %
Q2 2014	22.04 %	13.78 %	3.75 %
Q3 2014	21.97 %	13.29 %	2.35 %
Q4 2014	23.66 %	13.85 %	3.31 %
2014	23.66 %	13.84 %	3.31 %
Q1 2015	24.38 %	14.04 %	2.96 %
Q2 2015	23.64 %	12.84 %	1.20 %
Q3 2015	22.42 %	7.20 %	(7.17 %)
Q4 2015	20.20 %	2.44 %	(14.22 %)
2015	18.48 %	1.94 %	(16.41 %)
Q1 2016	18.70 %	0.57 %	(17.56 %)
Q2 2016	18.48 %	(0.58 %)	(19.89 %)
Q3 2016	18.66 %	2.32 %	(14.61 %)
Q4 2016	19.85 %	4.62 %	(14.96 %)
2016	19.78 %	4.56 %	(15.02 %)
Q1 2017	19.99 %	4.89 %	(15.19 %)
Q2 2017	20.42 %	5.85 %	(14.73 %)
Q3 2017	21.79 %	9.17 %	(9.90 %)
Q4 2017	24.14 %	9.79 %	(9.43 %)
2017	24.14 %	9.79 %	(9.43 %)
Q1 2018	24.57 %	10.73 %	(5.14 %)
Q2 2018	21.79 %	7.95 %	(7.39 %)
Q3 2018	19.45 %	4.90 %	(14.78 %)
Q4 2018	14.99 %	5.77 %	(19.28 %)
2018	15.36 %	5.77 %	(21.07 %)
Q1 2019	12.56 %	3.49 %	(24.82 %)
Q2 2019	13.04 %	4.31 %	(25.05 %)
Q3 2019	15.49 %	7.56 %	(22.41 %)
Q4 2019	18.30 %	9.19 %	(11.73 %)
2019	18.78 %	9.66 %	(11.73 %)
Q1 2020	21.86 %	12.37 %	(8.59 %)
Q2 2020	25.27 %	16.70 %	(3.13 %)
Q3 2020	27.11 %	19.14 %	3.31 %
Q4 2020	27.60 %	21.50 %	5.40 %
2020	27.60 %	21.50 %	5.40 %
Q1 2021	27.58 %	21.93 %	7.02 %
Q2 2021	28.34 %	22.72 %	8.48 %
Q3 2021	26.17 %	20.36 %	6.91 %
Q4 2021	23.11 %	16.01 %	2.68 %
2021	23.11 %	16.01 %	2.68 %
Q1 2022	22.31 %	15.05 %	2.40 %
Q2 2022	21.76 %	12.72 %	0.32 %
Q3 2022	22.19 %	13.47 %	1.24 %
Q4 2022	24.80 %	14.85 %	3.28 %
2022	24.80 %	14.85 %	3.28 %
Q1 2023	24.53 %	14.41 %	2.51 %
Q2 2023	25.74 %	16.69 %	4.79 %
Q3 2023	28.21 %	18.46 %	6.61 %
Q4 2023	30.52 %	21.56 %	9.40 %
2023	30.52 %	21.56 %	9.40 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	23.66 %	13.84 %	3.31 %
2015	18.48 %	1.94 %	(16.41 %)
2016	19.78 %	4.56 %	(15.02 %)
2017	24.14 %	9.79 %	(9.43 %)
2018	15.36 %	5.77 %	(21.07 %)
2019	18.78 %	9.66 %	(11.73 %)
2020	27.60 %	21.50 %	5.40 %
2021	23.11 %	16.01 %	2.68 %
2022	24.80 %	14.85 %	3.28 %
2023	30.52 %	21.56 %	9.40 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	22.47 %	13.27 %	3.96 %
Q2 2014	25.97 %	15.91 %	5.89 %
Q3 2014	23.15 %	14.14 %	1.55 %
Q4 2014	22.85 %	11.72 %	1.26 %
Q1 2015	25.21 %	13.96 %	2.62 %
Q2 2015	23.21 %	11.32 %	(0.84 %)
Q3 2015	16.02 %	(16.69 %)	(45.08 %)
Q4 2015	13.24 %	(8.11 %)	(27.76 %)
Q1 2016	20.89 %	10.27 %	(5.16 %)
Q2 2016	23.56 %	9.62 %	(5.63 %)
Q3 2016	16.60 %	(3.97 %)	(21.47 %)
Q4 2016	17.01 %	(0.82 %)	(33.13 %)
Q1 2017	21.49 %	11.78 %	(5.11 %)
Q2 2017	25.44 %	13.56 %	(3.23 %)
Q3 2017	22.54 %	10.58 %	(2.37 %)
Q4 2017	27.32 %	3.35 %	(27.37 %)
Q1 2018	23.53 %	14.37 %	7.88 %
Q2 2018	11.52 %	(0.17 %)	(14.37 %)
Q3 2018	12.07 %	(2.71 %)	(34.90 %)
Q4 2018	9.98 %	6.73 %	(41.83 %)
Q1 2019	16.14 %	7.48 %	(8.25 %)
Q2 2019	13.76 %	3.87 %	(16.64 %)
Q3 2019	23.15 %	12.38 %	(22.41 %)
Q4 2019	20.63 %	13.26 %	(1.14 %)
Q1 2020	28.63 %	18.67 %	3.12 %
Q2 2020	27.81 %	21.46 %	5.14 %
Q3 2020	31.23 %	23.12 %	6.02 %
Q4 2020	22.31 %	23.31 %	7.87 %
Q1 2021	28.47 %	20.39 %	8.87 %
Q2 2021	30.73 %	24.47 %	10.72 %
Q3 2021	22.30 %	13.75 %	0.11 %
Q4 2021	10.80 %	5.37 %	(9.23 %)
Q1 2022	24.91 %	16.49 %	6.83 %
Q2 2022	28.10 %	14.10 %	1.48 %
Q3 2022	23.93 %	16.63 %	3.84 %
Q4 2022	22.88 %	12.22 %	0.54 %
Q1 2023	24.01 %	14.86 %	3.93 %
Q2 2023	31.72 %	22.88 %	10.46 %
Q3 2023	34.41 %	23.93 %	11.47 %
Q4 2023	32.62 %	25.28 %	12.30 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2014	29.08	0.95	0.95	22.10
Q2 2014	29.08	1.04	1.04	22.39
Q3 2014	29.08	0.64	0.64	22.49
Q4 2014	29.08	0.86	0.86	22.64
Q1 2015	29.08	0.75	0.75	22.79
Q2 2015	29.08	0.22	0.29	22.85
Q3 2015	29.08	(2.32)	(1.56)	20.21
Q4 2015	29.08	(3.92)	(2.94)	18.16
Q1 2016	29.08	(4.34)	(3.35)	13.92
Q2 2016	29.08	(4.47)	(3.56)	13.63
Q3 2016	29.08	(2.77)	(2.55)	12.93
Q4 2016	29.08	(2.45)	(2.45)	11.27
Q1 2017	29.08	(2.43)	(2.43)	11.54
Q2 2017	29.08	(2.31)	(2.31)	11.42
Q3 2017	29.08	(1.68)	(1.68)	11.19
Q4 2017	29.08	(1.67)	(1.67)	9.59
Q1 2018	29.08	(1.29)	(0.99)	10.37
Q2 2018	29.08	(1.51)	(1.38)	9.95
Q3 2018	29.08	(2.69)	(2.64)	6.67
Q4 2018	29.08	(3.64)	(3.59)	3.44
Q1 2019	29.08	(2.99)	(4.49)	5.40
Q2 2019	29.08	(3.17)	(4.66)	4.88
Q3 2019	29.08	(2.72)	(4.22)	2.88
Q4 2019	29.08	(0.96)	(2.13)	2.50
Q1 2020	29.08	(1.72)	(1.53)	2.53
Q2 2020	29.08	(1.06)	(0.58)	2.65
Q3 2020	29.08	(0.09)	0.62	2.78
Q4 2020	29.08	0.52	0.99	3.07
Q1 2021	32.04	0.88	1.19	6.17
Q2 2021	32.04	1.23	1.44	6.68
Q3 2021	32.04	1.11	1.21	6.68
Q4 2021	32.04	0.95	0.49	6.64
Q1 2022	32.04	0.92	0.47	7.04
Q2 2022	32.04	1.11	0.06	7.69
Q3 2022	32.04	1.30	0.25	7.91
Q4 2022	37.07	1.27	0.61	10.83
Q1 2023	37.07	1.14	0.48	11.06
Q2 2023	37.07	1.14	1.00	11.63
Q3 2023	37.07	1.58	1.43	12.22
Q4 2023	37.07	1.97	2.06	12.75

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	29.08	0.86	0.86	22.64
2015	29.08	(4.37)	(3.39)	18.16
2016	29.08	(2.47)	(2.47)	11.27
2017	29.08	(1.67)	(1.67)	9.59
2018	29.08	(3.97)	(3.92)	3.44
2019	29.08	(0.96)	(2.13)	2.50
2020	29.08	0.52	0.99	3.07
2021	32.04	0.95	0.49	6.64
2022	37.07	1.27	0.61	10.83
2023	37.07	1.97	2.06	12.75

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2014	85.25	85.25	3.67
Q2 2014	77.37	77.37	3.61
Q3 2014	More than 100	More than 100	3.57
Q4 2014	54.30	54.28	2.07
Q1 2015	61.85	61.82	2.03
Q2 2015	More than 100	More than 100	2.09
Q3 2015	NEG	NEG	1.62
Q4 2015	NEG	NEG	2.02
Q1 2016	NEG	NEG	1.92
Q2 2016	NEG	NEG	1.75
Q3 2016	NEG	NEG	1.23
Q4 2016	NEG	NEG	1.81
Q1 2017	NEG	NEG	1.68
Q2 2017	NEG	NEG	1.17
Q3 2017	NEG	NEG	1.43
Q4 2017	NEG	NEG	1.75
Q1 2018	NEG	NEG	1.55
Q2 2018	NEG	NEG	1.59
Q3 2018	NEG	NEG	1.88
Q4 2018	NEG	NEG	4.40
Q1 2019	NEG	NEG	2.32
Q2 2019	NEG	NEG	2.04
Q3 2019	NEG	NEG	3.44
Q4 2019	NEG	NEG	4.10
Q1 2020	NEG	NEG	3.20
Q2 2020	NEG	NEG	4.78
Q3 2020	NEG	34.69	7.69
Q4 2020	95.11	49.95	16.11
Q1 2021	44.94	33.01	6.39
Q2 2021	36.83	31.51	6.79
Q3 2021	38.36	35.24	6.38
Q4 2021	33.41	64.21	4.76
Q1 2022	36.76	72.34	4.81
Q2 2022	28.80	More than 100	4.14
Q3 2022	28.29	More than 100	4.63
Q4 2022	16.69	34.48	1.95
Q1 2023	23.11	54.27	2.38
Q2 2023	25.86	29.57	2.53
Q3 2023	22.43	24.67	2.89
Q4 2023	20.49	19.60	3.16

Period	P/E	Adjusted P/E	Price/book
2014	54.30	54.30	2.07
2015	NEG	NEG	2.02
2016	NEG	NEG	1.81
2017	NEG	NEG	1.75
2018	NEG	NEG	4.40
2019	NEG	NEG	4.10
2020	95.11	49.95	16.11
2021	33.41	64.21	4.76
2022	16.69	34.48	1.95
2023	20.49	19.60	3.16

Business Segments (Million)

Compared With The

Period	Transformative Industries	Trade and Others	Disposals
Q1 2014	199.39	6.11	-
Q2 2014	150.92	53.58	-
Q3 2014	159.67	20.09	-
Q4 2014	146.82	21.15	-
Q1 2015	165.51	19.97	-
Q2 2015	149.60	15.76	-
Q3 2015	102.66	10.13	-
Q4 2015	80.26	56.69	-
Q1 2016	130.83	9.25	-
Q2 2016	123.39	6.85	-
Q3 2016	94.08	6.66	-
Q4 2016	66.39	39.82	-
Q1 2017	119.44	9.08	-
Q2 2017	112.05	9.34	-
Q3 2017	128.87	9.58	-
Q4 2017	73.87	53.60	-
Q1 2018	161.34	8.99	-
Q2 2018	100.00	7.48	-
Q3 2018	107.94	6.31	-
Q4 2018	141.14	8.25	-
Q1 2019	149.00	6.10	-
Q2 2019	115.81	6.07	-
Q3 2019	116.75	5.01	-
Q4 2019	123.84	4.55	-
Q1 2020	141.55	4.32	-
Q2 2020	135.36	7.31	-
Q3 2020	117.59	6.70	-
Q4 2020	110.23	9.02	-
Q1 2021	146.16	12.33	-
Q2 2021	131.07	10.20	-
Q3 2021	132.73	9.13	-
Q4 2021	131.76	15.43	-
Q1 2022	175.39	19.30	-
Q2 2022	125.91	20.38	-
Q3 2022	149.45	12.19	-
Q4 2022	178.65	10.60	-
Q1 2023	208.92	8.36	-
Q2 2023	195.46	6.72	-
Q3 2023	187.12	8.37	-
Q4 2023	188.80	7.33	-

Period	Transformative Industries	Trade and Others	Disposals
2014	656.80	100.92	-
2015	498.02	102.55	-
2016	414.69	62.58	-
2017	434.23	81.59	-
2018	510.43	31.03	-
2019	505.39	21.74	-
2020	504.74	27.36	-
2021	541.71	47.09	-
2022	629.40	62.47	-
2023	780.30	30.78	-

Financial Ratios

	Current
Market Cap (M Riyal)	2,365.07
Enterprise Value (EV) (M)	2,834.26
Shares Outstanding ((M))	37.07
EPS ( Riyal) (TTM)	2.80
Book Value (BV) ( Riyal)	13.80
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	21.88
P/E (TTM)	22.81
Price/book	4.62
Return on Average Assets (%) (TTM)	9.1
Return on Average Equity (%) (TTM)	21.5

Saudi Paper Manufacturing Co. (SPM)

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Saudi Paper profit leaps to SAR 72.9M in 2023; Q4 at SAR 20.8M

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Financials (M)

Current Quarter 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) 2023 Q4

Financial Ratios

Share Price

Saudi Paper Manufacturing Co. (SPM)

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Saudi Paper profit leaps to SAR 72.9M in 2023; Q4 at SAR 20.8M

View other reports

Financials (M)

Current Quarter 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) Q4 2023

Revenue by Business Segment (Latest) 2023 Q4

Financial Ratios

Share Price

Saudi Paper Manufacturing Co. (SPM)

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Business Segments (Million)