SAIC posts 72% rise in H1 2022 profit to SAR 58.3 mln, Q2 at SAR 27.3 million

SAIC posts 72% rise in H1 2022 profit to SAR 58.3 mln, Q2 at SAR 27.3 million

21/08/2022 Argaam Exclusive

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Saudi Advanced Industries Co. (SAIC) posted a 72% jump in net profit after Zakat and tax to SAR 58.3 million in H1 2022, from SAR 33.8 million in the year-earlier period.

 

The company cited higher revenue, an increase in its profit share from associates and dividend distributions, along with lower estimated Zakat expenses.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 39.03 65.53 67.9 %
Gross Income 39.03 65.53 67.9 %
Operating Income 34.72 58.45 68.4 %
Net Income 33.84 58.26 72.2 %
Average Shares 60.00 60.00 -
EPS (Riyals) 0.56 0.97 72.2 %

The profit leap came despite a rise in general and administrative expenses (G&A), and a decline in other revenue.

 

In Q2 2022, net profit after Zakat and tax climbed 63% to SAR 27.3 million, from SAR 16.79 million in Q2 2021, backed by higher revenue and increased profit share from associates.

 

On a quarterly basis, SAIC’s net profit dropped 11.7% from SAR 30.94 million on lower revenue and a decline in the company’s profit share from associates.



Current Quarter Comparison (M)

Compared With The
Item Q2 2021 Q2 2022 Change‬
Revenues 19.34 31.09 60.7 %
Gross Income 19.34 31.09 60.7 %
Operating Income 17.17 27.45 59.8 %
Net Income 16.79 27.32 62.7 %
Average Shares 60.00 60.00 -
EPS (Riyals) 0.28 0.46 62.7 %

Total shareholders’ equity, after minority interest, rose to SAR 899.66 million as of June 30, 2022, from SAR 895.78 million a year earlier.

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2013 4.83 411.3 % 4.83 411.3 % 3.84 249.0 %
Q2 2013 9.84 432.0 % 9.84 432.0 % 9.05 327.4 %
Q3 2013 9.50 1624.2 % 9.50 1624.2 % 8.74 978.9 %
Q4 2013 6.64 120.0 % 6.64 120.0 % 4.79 113.7 %
Q1 2014 8.03 66.2 % 8.03 66.2 % 6.94 80.7 %
Q2 2014 4.64 (52.9 %) 4.64 (52.9 %) 3.51 (61.1 %)
Q3 2014 8.48 (10.7 %) 8.48 (10.7 %) 7.47 (14.4 %)
Q4 2014 6.16 (7.2 %) 6.16 (7.2 %) 3.55 (26.0 %)
Q1 2015 9.04 12.5 % 9.04 12.5 % 7.66 10.4 %
Q2 2015 8.15 75.7 % 8.15 75.7 % 6.82 94.1 %
Q3 2015 2.38 (71.9 %) 2.38 (71.9 %) 1.21 (83.8 %)
Q4 2015 (0.45) (107.3 %) (0.45) (107.3 %) (2.71) (176.4 %)
Q1 2016 (1.93) (121.4 %) (1.93) (121.4 %) (3.24) (142.3 %)
Q2 2016 11.74 44.1 % 11.74 44.1 % 10.51 54.0 %
Q3 2016 4.29 80.1 % 4.29 80.1 % 3.10 155.6 %
Q4 2016 4.58 1123.9 % 4.58 1123.9 % 2.32 185.5 %
Q1 2017 4.42 328.7 % 4.42 328.7 % 3.21 198.9 %
Q2 2017 8.35 (28.9 %) 8.35 (28.9 %) 7.11 (32.4 %)
Q3 2017 11.65 171.8 % 11.65 171.8 % 10.40 235.7 %
Q4 2017 10.20 122.8 % 10.20 122.8 % 7.33 215.9 %
Q1 2018 5.48 24.0 % 5.48 24.0 % 4.35 35.8 %
Q2 2018 15.71 88.3 % 15.71 88.3 % 14.25 100.5 %
Q3 2018 12.89 10.6 % 12.89 10.6 % 11.84 13.8 %
Q4 2018 10.45 2.5 % 10.45 2.5 % 7.49 2.1 %
Q1 2019 6.04 10.2 % 6.04 10.2 % 4.53 4.0 %
Q2 2019 20.08 27.8 % 20.08 27.8 % 16.65 16.9 %
Q3 2019 13.59 5.4 % 13.59 5.4 % 11.79 (0.4 %)
Q4 2019 4.68 (55.2 %) 4.68 (55.2 %) 1.61 (78.5 %)
Q1 2020 10.72 77.5 % 10.72 77.5 % 8.68 91.6 %
Q2 2020 6.71 (66.6 %) 6.71 (66.6 %) 4.95 (70.3 %)
Q3 2020 9.59 (29.4 %) 9.59 (29.4 %) 7.78 (34.0 %)
Q4 2020 9.75 108.3 % 9.75 108.3 % 7.66 375.2 %
Q1 2021 19.69 83.6 % 19.69 83.6 % 17.54 102.2 %
Q2 2021 19.34 188.1 % 19.34 188.1 % 17.17 246.9 %
Q3 2021 35.88 273.9 % 35.88 273.9 % 33.83 334.7 %
Q4 2021 26.57 172.6 % 26.57 172.6 % 24.03 213.9 %
Q1 2022 34.44 75.0 % 34.44 75.0 % 31.00 76.7 %
Q2 2022 31.09 60.7 % 31.09 60.7 % 27.45 59.8 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2013 3.24 201.1 % 0.05 - 3.24 0.05
Q2 2013 8.72 133.3 % 0.15 - 8.72 0.15
Q3 2013 8.52 296.5 % 0.14 - 8.52 0.14
Q4 2013 4.58 116.1 % 0.08 - 4.58 0.08
Q1 2014 6.01 85.7 % 0.10 (0.76) 6.77 0.11
Q2 2014 (6.91) (179.3 %) (0.12) (9.98) 3.06 0.05
Q3 2014 13.81 62.1 % 0.23 (0.76) 14.57 0.24
Q4 2014 2.32 (49.4 %) 0.04 (0.76) 3.08 0.05
Q1 2015 7.51 24.9 % 0.13 - 7.51 0.13
Q2 2015 7.26 205.0 % 0.12 - 7.26 0.12
Q3 2015 1.61 (88.3 %) 0.03 - 1.61 0.03
Q4 2015 (15.20) (756.2 %) (0.25) (11.00) (4.20) (0.07)
Q1 2016 (3.75) (149.9 %) (0.06) - (3.75) (0.06)
Q2 2016 9.96 37.2 % 0.17 - 9.96 0.17
Q3 2016 2.52 55.9 % 0.04 - 2.52 0.04
Q4 2016 2.15 114.1 % 0.04 - 2.15 0.04
Q1 2017 3.40 190.6 % 0.06 - 3.40 0.06
Q2 2017 7.56 (24.1 %) 0.13 - 7.56 0.13
Q3 2017 9.82 290.5 % 0.16 - 9.82 0.16
Q4 2017 9.81 356.4 % 0.16 - 9.81 0.16
Q1 2018 4.16 22.5 % 0.07 - 4.16 0.07
Q2 2018 14.10 86.5 % 0.23 - 14.10 0.23
Q3 2018 11.54 17.5 % 0.19 - 11.54 0.19
Q4 2018 7.13 (27.3 %) 0.12 - 7.13 0.12
Q1 2019 4.13 (0.8 %) 0.07 - 4.13 0.07
Q2 2019 16.37 16.1 % 0.27 - 16.37 0.27
Q3 2019 11.50 (0.4 %) 0.19 - 11.50 0.19
Q4 2019 (3.45) (148.4 %) (0.06) (4.81) 1.36 0.02
Q1 2020 8.35 102.3 % 0.14 - 8.35 0.14
Q2 2020 4.70 (71.3 %) 0.08 - 4.70 0.08
Q3 2020 7.50 (34.8 %) 0.13 - 7.50 0.13
Q4 2020 5.53 260.2 % 0.09 - 5.53 0.09
Q1 2021 17.05 104.2 % 0.28 - 17.05 0.28
Q2 2021 16.79 257.6 % 0.28 - 16.79 0.28
Q3 2021 31.67 322.3 % 0.53 - 31.67 0.53
Q4 2021 25.62 363.7 % 0.43 - 25.62 0.43
Q1 2022 30.94 81.5 % 0.52 - 30.94 0.52
Q2 2022 27.32 62.7 % 0.46 - 27.32 0.46

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2013 100.00 % 112.79 % 173.99 %
Q2 2013 100.00 % 120.18 % 108.24 %
Q3 2013 100.00 % 146.97 % 87.28 %
Q4 2013 100.00 % 85.81 % 81.34 %
Q1 2014 100.00 % 86.84 % 84.08 %
Q2 2014 100.00 % 83.32 % 79.63 %
Q3 2014 100.00 % 82.14 % 104.30 %
Q4 2014 100.00 % 78.73 % 100.61 %
Q1 2015 100.00 % 78.51 % 99.65 %
Q2 2015 100.00 % 80.26 % 101.84 %
Q3 2015 100.00 % 74.64 % 75.64 %
Q4 2015 100.00 % 68.14 % 63.72 %
Q1 2016 100.00 % 26.22 % 11.28 %
Q2 2016 100.00 % 49.67 % 30.82 %
Q3 2016 100.00 % 56.63 % 33.12 %
Q4 2016 100.00 % 68.37 % 58.23 %
Q1 2017 100.00 % 76.76 % 72.00 %
Q2 2017 100.00 % 73.06 % 72.22 %
Q3 2017 100.00 % 79.67 % 79.07 %
Q4 2017 100.00 % 81.19 % 88.35 %
Q1 2018 100.00 % 82.01 % 87.86 %
Q2 2018 100.00 % 84.58 % 88.01 %
Q3 2018 100.00 % 85.48 % 89.43 %
Q4 2018 100.00 % 85.38 % 82.90 %
Q1 2019 100.00 % 84.72 % 81.80 %
Q2 2019 100.00 % 82.12 % 79.17 %
Q3 2019 100.00 % 80.91 % 77.99 %
Q4 2019 100.00 % 78.19 % 75.13 %
Q1 2020 100.00 % 79.20 % 76.57 %
Q2 2020 100.00 % 76.08 % 72.54 %
Q3 2020 100.00 % 73.03 % 69.07 %
Q4 2020 100.00 % 79.41 % 70.89 %
Q1 2021 100.00 % 83.26 % 76.02 %
Q2 2021 100.00 % 86.21 % 80.29 %
Q3 2021 100.00 % 90.23 % 83.92 %
Q4 2021 100.00 % 91.41 % 89.81 %
Q1 2022 100.00 % 91.38 % 90.36 %
Q2 2022 100.00 % 91.01 % 90.29 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2013 60.00 (0.93) (0.93) 13.24
Q2 2013 60.00 (0.35) (0.35) 13.53
Q3 2013 60.00 (0.13) (0.13) 14.04
Q4 2013 60.00 0.42 0.42 14.75
Q1 2014 60.00 0.46 0.48 14.68
Q2 2014 60.00 0.20 0.38 14.58
Q3 2014 60.00 0.29 0.48 14.86
Q4 2014 60.00 0.25 0.46 13.08
Q1 2015 60.00 0.28 0.47 12.92
Q2 2015 60.00 0.51 0.54 13.53
Q3 2015 60.00 0.31 0.32 12.65
Q4 2015 60.00 0.02 0.20 11.62
Q1 2016 60.00 (0.17) 0.02 11.87
Q2 2016 60.00 (0.12) 0.06 12.25
Q3 2016 60.00 (0.11) 0.08 12.22
Q4 2016 60.00 0.18 0.18 12.59
Q1 2017 60.00 0.30 0.30 12.74
Q2 2017 60.00 0.26 0.26 12.74
Q3 2017 60.00 0.38 0.38 12.81
Q4 2017 60.00 0.51 0.51 12.87
Q1 2018 60.00 0.52 0.52 13.64
Q2 2018 60.00 0.63 0.63 13.94
Q3 2018 60.00 0.66 0.66 13.89
Q4 2018 60.00 0.62 0.62 13.12
Q1 2019 60.00 0.61 0.61 13.75
Q2 2019 60.00 0.65 0.65 13.51
Q3 2019 60.00 0.65 0.65 13.14
Q4 2019 60.00 0.48 0.56 13.31
Q1 2020 60.00 0.55 0.63 12.55
Q2 2020 60.00 0.35 0.43 13.25
Q3 2020 60.00 0.28 0.37 13.66
Q4 2020 60.00 0.43 0.43 14.00
Q1 2021 60.00 0.58 0.58 14.66
Q2 2021 60.00 0.78 0.78 14.93
Q3 2021 60.00 1.18 1.18 15.37
Q4 2021 60.00 1.52 1.52 15.56
Q1 2022 60.00 1.75 1.75 16.13
Q2 2022 60.00 1.93 1.93 14.99

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2013 NEG NEG 0.85
Q2 2013 NEG NEG 0.82
Q3 2013 NEG NEG 0.85
Q4 2013 31.92 31.92 0.90
Q1 2014 34.09 33.19 1.08
Q2 2014 92.86 49.40 1.30
Q3 2014 68.21 41.17 1.34
Q4 2014 54.49 30.20 1.06
Q1 2015 54.78 32.47 1.18
Q2 2015 29.51 28.13 1.12
Q3 2015 35.37 34.00 0.87
Q4 2015 More than 100 55.95 0.98
Q1 2016 NEG More than 100 0.72
Q2 2016 NEG More than 100 0.74
Q3 2016 NEG 89.78 0.55
Q4 2016 55.46 55.46 0.80
Q1 2017 37.63 37.63 0.89
Q2 2017 38.35 38.35 0.78
Q3 2017 28.53 28.53 0.85
Q4 2017 22.52 22.52 0.89
Q1 2018 21.63 21.63 0.83
Q2 2018 17.73 17.73 0.80
Q3 2018 15.62 15.62 0.74
Q4 2018 17.54 17.54 0.82
Q1 2019 19.21 19.21 0.86
Q2 2019 15.92 15.92 0.77
Q3 2019 17.24 17.24 0.86
Q4 2019 24.12 20.65 0.86
Q1 2020 17.26 15.05 0.75
Q2 2020 30.70 25.00 0.81
Q3 2020 54.79 42.77 1.14
Q4 2020 36.28 36.28 1.13
Q1 2021 59.23 59.23 2.34
Q2 2021 60.23 60.23 3.15
Q3 2021 36.00 36.00 2.77
Q4 2021 26.08 26.08 2.55
Q1 2022 22.21 22.21 2.41
Q2 2022 15.05 15.05 1.93

Business Segments (Million)

Compared With The
Period Services and Invesments sector Glass industry Petrochemical sector Industrial Services Segment ( Energy and Utilities) Others
Q1 2013 - (3.19) - 3.22 4.80
Q2 2013 - 0.45 - 9.39 0.04
Q3 2013 - 0.59 3.27 6.25 (0.61)
Q4 2013 - 2.75 - 3.88 -
Q1 2014 - 1.49 6.54 - 0.01
Q2 2014 - 0.60 - - 4.52
Q3 2014 - 1.94 4.90 - 9.84
Q4 2014 - 1.53 - - 4.89
Q1 2015 3.25 - 4.90 - 0.95
Q2 2015 2.60 0.39 3.27 1.62 0.85
Q3 2015 4.93 - - - -
Q4 2015 2.23 - - - -
Q1 2016 - - 3.27 - 0.01
Q2 2016 4.58 - 4.90 3.24 -
Q3 2016 2.73 - - - 0.04
Q4 2016 3.15 1.09 - - 0.09
Q1 2017 3.09 - 4.90 - 0.79
Q2 2017 5.28 - - - 0.03
Q3 2017 3.02 - 4.90 5.06 -
Q4 2017 3.31 5.80 - - 0.03
Q1 2018 3.07 2.41 - - 0.03
Q2 2018 3.21 1.98 - - -
Q3 2018 2.86 4.31 5.72 - -
Q4 2018 3.81 6.64 - - -
Q1 2019 2.85 3.19 - - -
Q2 2019 5.42 3.06 6.54 - 0.02
Q3 2019 5.01 2.85 5.72 - 0.01
Q4 2019 2.70 1.98 - - 0.04
Q1 2020 3.36 1.65 5.72 - -
Q2 2020 8.80 (2.09) - - 0.05
Q3 2020 2.27 3.24 4.09 - 0.02
Q4 2020 5.63 4.12 - - 0.01
Q1 2021 7.38 8.22 4.09 - 0.01
Q2 2021 5.29 14.05 - - 0.05
Q3 2021 6.43 24.54 4.90 - -
Q4 2021 3.91 22.66 - - -
Q1 2022 8.56 20.98 4.90 - -
Q2 2022 5.70 20.49 4.90 - -


Financial Ratios
Current
Market Cap (M Riyal) 2,121.00
Enterprise Value (EV) (M) 1,626.76
Shares Outstanding ((M)) 60.00
EPS ( Riyal) (TTM) 5.45
Book Value (BV) ( Riyal) 20.33
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 6.52
P/E (TTM) 6.60
Price/book 1.74
Return on Average Assets (%) (TTM) 27.3
Return on Average Equity (%) (TTM) 29.4
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Share Price

Saudi Advanced Industries Co.
35.35
(0.05) (0.14 %)

Saudi Advanced Industries Co. (SAIC)

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