Aslak Q1 2024 profit leaps 36% to SAR 6.1M

Aslak Q1 2024 profit leaps 36% to SAR 6.1M

15/05/2024 Argaam Exclusive

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United Wire Factories Co. (Aslak) reported a net profit of SAR 6.1 million for Q1 2024, leaping 36% from SAR 4.5 million in the same period last year.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 227.16 187.21 (17.6 %)
Gross Income 16.43 15.88 (3.4 %)
Operating Income 5.97 6.77 13.4 %
Net Income 4.51 6.07 34.4 %
Average Shares 28.08 28.08 -
EPS (Riyals) 0.16 0.22 34.4 %

The profit growth was boosted by higher profit margins and profit of investment. However, sales declined on lower sales volume.

 

Sequentially, the first-quarter net profit fell 26.5% from SAR 8.30 million on higher Zakat expenses.

 

Sales, however, increased compared with the previous quarter due to higher sales volume.

 

Shareholders’ equity, no minority interest, amounted to SAR 378 million by the end of Q1 2024, compared to SAR 454.1 million in the year-ago period.

 

Shareholders approved on Aug. 2, 2023, the board's recommendation on reducing capital by 20% from SAR 351 million to SAR 280.80 million through cancelling 7.02 million shares.

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2015 233.19 (16.7 %) 25.04 (36.4 %) 13.96 (54.1 %) 0.50
Q2 2015 268.77 2.4 % 37.80 0.2 % 24.94 (16.9 %) 0.89
Q3 2015 182.92 (10.4 %) 31.98 12.0 % 21.17 3.9 % 0.75
Q4 2015 218.49 5.9 % 25.51 17.1 % 12.14 (5.7 %) 0.43
Q1 2016 209.64 (10.1 %) 32.49 29.8 % 17.29 23.9 % 0.62
Q2 2016 196.81 (26.8 %) 56.48 49.4 % 38.61 54.8 % 1.38
Q3 2016 126.19 (31.0 %) 24.12 (24.6 %) 14.34 (32.3 %) 0.51
Q4 2016 157.39 (28.0 %) 23.72 (7.0 %) 11.65 (4.1 %) 0.41
Q1 2017 144.64 (31.0 %) 18.76 (42.2 %) 7.71 (55.4 %) 0.27
Q2 2017 135.13 (31.3 %) 12.19 (78.4 %) 0.49 (98.7 %) 0.02
Q3 2017 129.98 3.0 % 18.95 (21.4 %) 7.23 (49.6 %) 0.26
Q4 2017 167.01 6.1 % 18.76 (20.9 %) 10.14 (12.9 %) 0.36
Q1 2018 145.02 0.3 % 19.29 2.8 % 7.74 0.3 % 0.28
Q2 2018 145.56 7.7 % 15.78 29.4 % 7.32 1384.2 % 0.26
Q3 2018 106.65 (17.9 %) 8.67 (54.2 %) 0.49 (93.3 %) 0.02
Q4 2018 137.73 (17.5 %) 2.40 (87.2 %) (8.43) (183.1 %) (0.30)
Q1 2019 192.79 32.9 % 21.13 9.5 % 10.12 30.9 % 0.36
Q2 2019 144.10 (1.0 %) 13.17 (16.5 %) 6.01 (17.9 %) 0.21
Q3 2019 168.29 57.8 % 8.42 (3.0 %) 1.10 126.1 % 0.04
Q4 2019 219.22 59.2 % 18.94 689.1 % 4.89 158.0 % 0.17
Q1 2020 220.39 14.3 % 33.54 58.7 % 15.05 48.7 % 0.54
Q2 2020 194.33 34.9 % 22.13 68.0 % 12.25 103.9 % 0.44
Q3 2020 160.18 (4.8 %) 28.33 236.6 % 17.81 1517.7 % 0.63
Q4 2020 202.80 (7.5 %) 29.89 57.8 % 17.04 248.4 % 0.61
Q1 2021 226.63 2.8 % 28.09 (16.3 %) 16.11 7.0 % 0.57
Q2 2021 217.69 12.0 % 21.18 (4.3 %) 14.08 14.9 % 0.50
Q3 2021 185.69 15.9 % 16.86 (40.5 %) 8.10 (54.5 %) 0.29
Q4 2021 291.32 43.6 % 19.51 (34.7 %) 7.90 (53.6 %) 0.28
Q1 2022 298.79 31.8 % 38.03 35.4 % 26.02 61.5 % 0.93
Q2 2022 208.26 (4.3 %) 29.07 37.2 % 16.19 15.0 % 0.58
Q3 2022 264.12 42.2 % 15.63 (7.3 %) 3.05 (62.4 %) 0.11
Q4 2022 255.20 (12.4 %) 24.58 26.0 % 11.42 44.6 % 0.41
Q1 2023 227.16 (24.0 %) 16.43 (56.8 %) 4.51 (82.7 %) 0.16
Q2 2023 200.19 (3.9 %) 17.23 (40.7 %) 5.46 (66.3 %) 0.19
Q3 2023 182.89 (30.8 %) 14.53 (7.0 %) 2.15 (29.4 %) 0.08
Q4 2023 182.55 (28.5 %) 15.96 (35.1 %) 8.29 (27.4 %) 0.30
Q1 2024 187.21 (17.6 %) 15.88 (3.4 %) 6.07 34.4 % 0.22

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2015 12.48 % 10.73 % 8.52 %
Q2 2015 12.40 % 10.38 % 7.91 %
Q3 2015 13.08 % 10.92 % 8.18 %
Q4 2015 13.32 % 10.98 % 7.99 %
Q1 2016 14.52 % 11.86 % 8.59 %
Q2 2016 18.13 % 14.84 % 11.04 %
Q3 2016 18.45 % 14.87 % 10.97 %
Q4 2016 19.83 % 15.74 % 11.87 %
Q1 2017 19.69 % 15.44 % 11.57 %
Q2 2017 13.99 % 10.03 % 6.07 %
Q3 2017 12.98 % 9.27 % 4.77 %
Q4 2017 11.91 % 9.04 % 4.43 %
Q1 2018 11.99 % 9.30 % 4.44 %
Q2 2018 12.39 % 10.09 % 5.52 %
Q3 2018 11.08 % 8.71 % 4.55 %
Q4 2018 8.63 % 5.53 % 1.33 %
Q1 2019 8.23 % 5.45 % 1.63 %
Q2 2019 7.81 % 4.87 % 1.41 %
Q3 2019 7.02 % 4.38 % 1.37 %
Q4 2019 8.51 % 6.28 % 3.05 %
Q1 2020 9.85 % 7.33 % 4.41 %
Q2 2020 10.35 % 7.96 % 4.91 %
Q3 2020 12.96 % 10.43 % 7.06 %
Q4 2020 14.64 % 11.79 % 8.77 %
Q1 2021 13.83 % 11.06 % 8.06 %
Q2 2021 13.31 % 10.47 % 7.55 %
Q3 2021 11.53 % 8.63 % 5.91 %
Q4 2021 9.30 % 6.81 % 4.35 %
Q1 2022 9.62 % 7.30 % 5.03 %
Q2 2022 10.51 % 7.98 % 5.71 %
Q3 2022 9.62 % 7.09 % 5.00 %
Q4 2022 10.46 % 7.71 % 5.52 %
Q1 2023 8.98 % 5.91 % 3.68 %
Q2 2023 7.80 % 4.74 % 2.58 %
Q3 2023 8.41 % 5.01 % 2.72 %
Q4 2023 8.09 % 4.35 % 2.58 %
Q1 2024 8.45 % 4.68 % 2.92 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2015 28.08 2.75 2.75 17.59
Q2 2015 28.08 2.57 2.57 18.48
Q3 2015 28.08 2.60 2.60 17.99
Q4 2015 28.08 2.57 2.57 18.42
Q1 2016 28.08 2.69 2.69 17.99
Q2 2016 28.08 3.18 3.18 19.39
Q3 2016 28.08 2.93 2.93 18.31
Q4 2016 28.08 2.92 2.92 18.69
Q1 2017 28.08 2.58 2.58 17.95
Q2 2017 28.08 1.22 1.22 17.97
Q3 2017 28.08 0.96 0.96 18.22
Q4 2017 28.08 0.91 0.91 18.62
Q1 2018 28.08 0.91 0.91 18.90
Q2 2018 28.08 1.15 1.15 18.37
Q3 2018 28.08 0.91 0.91 18.39
Q4 2018 28.08 0.25 0.25 18.04
Q1 2019 28.08 0.34 0.34 18.40
Q2 2019 28.08 0.29 0.29 18.61
Q3 2019 28.08 0.31 0.31 18.26
Q4 2019 28.08 0.79 0.79 18.48
Q1 2020 28.08 0.96 1.18 19.01
Q2 2020 28.08 1.19 1.40 19.45
Q3 2020 28.08 1.78 2.00 15.71
Q4 2020 28.08 2.21 2.43 16.30
Q1 2021 28.08 2.25 2.25 15.62
Q2 2021 28.08 2.32 2.17 16.12
Q3 2021 28.08 1.97 1.75 15.47
Q4 2021 28.08 1.64 1.43 15.76
Q1 2022 28.08 2.00 1.78 16.13
Q2 2022 28.08 2.07 2.00 16.70
Q3 2022 28.08 1.89 1.89 15.56
Q4 2022 28.08 2.02 2.02 16.01
Q1 2023 28.08 1.25 1.25 16.17
Q2 2023 28.08 0.87 0.87 16.36
Q3 2023 28.08 0.84 0.84 13.94
Q4 2023 28.08 0.73 0.73 13.25
Q1 2024 28.08 0.78 0.78 13.46

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2015 16.01 16.01 2.50
Q2 2015 17.25 17.25 2.40
Q3 2015 13.40 13.40 1.94
Q4 2015 11.44 11.44 1.60
Q1 2016 8.89 8.89 1.33
Q2 2016 9.91 9.91 1.62
Q3 2016 8.53 8.53 1.37
Q4 2016 11.80 11.80 1.84
Q1 2017 11.99 11.99 1.72
Q2 2017 20.56 20.56 1.39
Q3 2017 24.76 24.76 1.31
Q4 2017 23.34 23.34 1.14
Q1 2018 23.02 23.02 1.11
Q2 2018 20.28 20.28 1.27
Q3 2018 22.67 22.67 1.13
Q4 2018 74.95 74.95 1.05
Q1 2019 64.73 64.73 1.19
Q2 2019 66.75 66.75 1.04
Q3 2019 64.48 64.48 1.11
Q4 2019 29.48 29.48 1.26
Q1 2020 21.19 17.30 1.07
Q2 2020 22.48 19.01 1.37
Q3 2020 21.70 19.35 2.46
Q4 2020 18.14 16.52 2.46
Q1 2021 19.14 19.14 2.76
Q2 2021 20.07 21.40 2.88
Q3 2021 22.25 24.99 2.83
Q4 2021 20.93 24.11 2.18
Q1 2022 16.54 18.55 2.05
Q2 2022 16.47 17.06 2.04
Q3 2022 17.64 17.64 2.15
Q4 2022 13.71 13.71 1.73
Q1 2023 23.16 23.16 1.79
Q2 2023 36.37 36.37 1.93
Q3 2023 32.74 32.74 1.97
Q4 2023 41.12 41.12 2.26
Q1 2024 40.83 40.83 2.37

Business Segments (Million)

Compared With The
Period Industrial sector Commercial sector
Q1 2015 195.39 37.79
Q2 2015 218.15 50.62
Q3 2015 138.48 44.44
Q4 2015 178.67 39.82
Q1 2016 177.61 32.02
Q2 2016 150.32 46.49
Q3 2016 89.78 36.41
Q4 2016 129.30 28.09
Q1 2017 119.83 24.81
Q2 2017 90.58 44.55
Q3 2017 95.03 34.94
Q4 2017 130.65 36.36
Q1 2018 118.53 26.49
Q2 2018 104.77 40.79
Q3 2018 69.78 36.87
Q4 2018 109.09 28.64
Q1 2019 160.48 32.31
Q2 2019 104.51 39.59
Q3 2019 133.75 34.54
Q4 2019 160.15 59.07
Q1 2020 184.73 35.66
Q2 2020 151.07 43.26
Q3 2020 123.62 36.44
Q4 2020 169.04 33.71
Q1 2021 181.62 45.01
Q2 2021 161.65 56.04
Q3 2021 121.18 64.51
Q4 2021 242.30 49.01
Q1 2022 232.74 66.05
Q2 2022 118.50 89.76
Q3 2022 187.08 77.04
Q4 2022 127.73 127.47
Q1 2023 133.35 93.81
Q2 2023 151.21 48.98
Q3 2023 121.56 61.32
Q1 2024 93.58 93.63


Financial Ratios
Current
Market Cap (M Riyal) 776.41
Enterprise Value (EV) (M) 726.04
Shares Outstanding ((M)) 28.08
EPS ( Riyal) (TTM) 0.78
Book Value (BV) ( Riyal) 13.46
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 35.34
P/E (TTM) 35.34
Price/book 2.05
Return on Average Assets (%) (TTM) 4.1
Return on Average Equity (%) (TTM) 5.3
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Share Price

United Wire Factories Co.
27.80
(0.15) (0.54 %)

United Wire Factories Co. (ASLAK)

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