SAIC net profit up to SAR 149M in 2023; Q4 at SAR 38M

SAIC net profit up to SAR 149M in 2023; Q4 at SAR 38M

17/03/2024 Argaam Exclusive

View other reports

Saudi Advanced Industries Co. (SAIC) reported a net profit of SAR 149 million for 2023, compared to SAR 100.2 million a year earlier.



Financials (M)

Item 2022 2023 Change‬
Revenues 116.05 180.16 55.2 %
Gross Income 116.05 180.16 55.2 %
Operating Income 102.71 162.23 58.0 %
Net Income 100.21 148.80 48.5 %
Average Shares 60.00 60.00 -
EPS (Riyals) 1.67 2.48 48.5 %

This was propelled by higher profit from selling shares in associates and selling financial assets at fair value. The company also cited unrealized gains from financial assets at fair value, increased dividends earned, and higher other income.

 

This came despite losses from selling the company’s share in Al Salam Aerospace Co. in Q4, higher financing costs, increased general, administrative and Zakat expenses.

 

Q4 2023 net profit increased 89.6% year-on-year (YoY) to SAR 38 million, from SAR 19.85 million in the prior-year period.

 

On a quarterly basis, net profit fell 3.4% from SAR 38.94 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2022 Q4 2023 Change‬
Revenues 24.55 53.64 118.5 %
Gross Income 24.55 53.64 118.5 %
Operating Income 21.79 46.61 113.9 %
Net Income 19.85 36.09 81.8 %
Average Shares 60.00 60.00 -
EPS (Riyals) 0.33 0.60 81.8 %

Total shareholders’ equity, no minority interest, stood at SAR 995.41 million by Dec. 31, 2023, compared to SAR 901.18 million a year earlier.

View more financial results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %
Q3 2022 25.97 (27.6 %) 25.97 (27.6 %) 22.46 (33.6 %)
Q4 2022 24.55 (7.6 %) 24.55 (7.6 %) 21.79 (9.3 %)
Q1 2023 25.35 (26.4 %) 25.35 (26.4 %) 22.57 (27.2 %)
Q2 2023 53.59 72.4 % 53.59 72.4 % 50.66 84.6 %
Q3 2023 46.03 77.3 % 46.03 77.3 % 40.86 81.9 %
Q4 2023 53.64 118.5 % 53.64 118.5 % 46.61 113.9 %
2023 180.16 55.2 % 180.16 55.2 % 162.23 58.0 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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
Q3 2022 22.10 (30.2 %) 0.37 - 22.10 0.37
Q4 2022 19.85 (22.5 %) 0.33 - 19.85 0.33
Q1 2023 22.07 (28.7 %) 0.37 - 22.07 0.37
Q2 2023 50.16 83.6 % 0.84 - 50.16 0.84
Q3 2023 38.94 76.2 % 0.66 - 38.94 0.66
Q4 2023 36.09 81.8 % 0.60 (3.89) 39.98 0.67
2023 148.80 48.5 % 2.48 (3.89) 152.69 2.54

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %
Q3 2022 100.00 % 89.01 % 89.77 %
Q4 2022 100.00 % 88.62 % 86.35 %
Q1 2023 100.00 % 88.26 % 85.40 %
Q2 2023 100.00 % 90.85 % 88.20 %
Q3 2023 100.00 % 90.98 % 87.63 %
Q4 2023 100.00 % 90.08 % 84.63 %
2023 100.00 % 90.16 % 84.76 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q3 2022 60.00 1.77 1.77 15.14
Q4 2022 60.00 1.67 1.67 15.02
Q1 2023 60.00 1.52 1.52 15.41
Q2 2023 60.00 1.90 1.90 15.84
Q3 2023 59.00 2.22 2.22 16.04
Q4 2023 60.00 2.45 2.52 16.59

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q3 2022 15.68 15.68 1.83
Q4 2022 13.38 13.38 1.49
Q1 2023 15.94 15.94 1.57
Q2 2023 15.29 15.29 1.84
Q3 2023 13.37 13.37 1.82
Q4 2023 11.48 11.18 1.73

Business Segments (Million)

Compared With The
Period Services and Invesments sector Glass industry Petrochemical sector Industrial Services Segment ( Energy and Utilities) Others
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 - -
Q3 2022 5.66 20.31 - - 0.01
Q4 2022 4.25 9.29 - 11.02 -
Q1 2023 10.92 11.92 2.50 - -
Q2 2023 38.84 9.69 - 5.06 -
Q3 2023 4.02 42.01 - - -


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
more

Share Price

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

Saudi Advanced Industries Co. (SAIC)

More

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.