Sinad Holding turns to SAR 132.6M net loss in 2023, SAR 47.7M in Q

Sinad Holding turns to SAR 132.6M net loss in 2023, SAR 47.7M in Q

21/03/2024 Argaam Exclusive

View other reports

Sinad Holding Co. reported a net loss of SAR 132.6 million in 2023, versus a net profit of SAR 10.1 million a year earlier, driven by lower sales in Saudi Arabia.



Financials (M)

Item 2022 2023 Change‬
Revenues 1,757.56 1,616.68 (8.0 %)
Gross Income 496.70 384.00 (22.7 %)
Operating Income 31.32 (126.00) (502.3 %)
Net Income 10.12 (132.65) (1410.3 %)
Average Shares 126.39 126.39 -
EPS (Riyals) 0.08 (1.05) (1410.3 %)

The company also noted a decrease in gross profits and an operating loss, compared to operating profits during 2022. Gross profits from sales and investments slumped, while selling and distribution expenses increased along with higher expected credit losses. Financing expenses rose, in addition to an increase in Zakat expenses.

 

Sinad Holding report a net loss of SAR 47.7 million in Q4 2023 versus a net profit of SAR 74.79 million in the prior-year period.

 

On a quarterly basis, net losses widened from SAR 39.71 million in Q3 2023.



Current Quarter Comparison (M)

Compared With The
Item Q4 2022 Q4 2023 Change‬
Revenues 442.98 427.35 (3.5 %)
Gross Income 127.15 91.32 (28.2 %)
Operating Income 23.38 (53.28) (327.9 %)
Net Income 74.79 (47.77) (163.9 %)
Average Shares 126.39 126.39 -
EPS (Riyals) 0.59 (0.38) (163.9 %)

Shareholders’ equity, excluding minority interest, reached SAR 1.08 billion by Dec. 31, 2023, compared to SAR 1.23 billion in the year earlier period.

 

Accumulated losses reached SAR 160.2 million as of Dec. 31, 2023, representing 12.6% of the company’s capital.



Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2014 601.46 4.3 % 185.05 (0.8 %) 52.73 57.9 % 0.42
Q2 2014 624.98 8.2 % 187.07 6.0 % 64.37 120.9 % 0.51
Q3 2014 607.08 8.2 % 173.79 10.5 % 32.92 14.0 % 0.26
Q4 2014 604.72 5.9 % 193.67 18.3 % 36.24 (10.7 %) 0.29
Q1 2015 593.14 (1.4 %) 183.85 (0.6 %) 60.46 14.7 % 0.48
Q2 2015 580.59 (7.1 %) 181.00 (3.2 %) 64.87 0.8 % 0.51
Q3 2015 553.97 (8.7 %) 178.11 2.5 % 22.47 (31.7 %) 0.18
Q4 2015 444.00 (26.6 %) 165.73 (14.4 %) 12.54 (65.4 %) 0.10
Q1 2016 555.73 (6.3 %) 182.18 (0.9 %) (50.65) (183.8 %) (0.40)
Q2 2016 502.82 (13.4 %) 161.28 (10.9 %) 15.60 (75.9 %) 0.12
Q3 2016 519.22 (6.3 %) 162.50 (8.8 %) (48.10) (314.1 %) (0.38)
Q4 2016 506.19 14.0 % 162.02 (2.2 %) (79.15) (731.4 %) (0.63)
Q1 2017 456.77 (17.8 %) 154.71 (15.1 %) 20.69 140.9 % 0.16
Q2 2017 428.66 (14.7 %) 130.15 (19.3 %) 3.67 (76.5 %) 0.03
Q3 2017 503.24 (3.1 %) 161.51 (0.6 %) 4.38 109.1 % 0.03
Q4 2017 499.16 (1.4 %) 169.55 4.6 % (352.75) (345.7 %) (2.79)
Q1 2018 449.18 (1.7 %) 134.10 (13.3 %) 11.74 (43.2 %) 0.09
Q2 2018 424.80 (0.9 %) 122.74 (5.7 %) (2.02) (155.1 %) (0.02)
Q3 2018 483.73 (3.9 %) 151.85 (6.0 %) (4.46) (201.8 %) (0.04)
Q4 2018 449.88 (9.9 %) 129.99 (23.3 %) (109.49) 69.0 % (0.87)
Q1 2019 471.87 5.1 % 135.36 0.9 % 5.28 (55.0 %) 0.04
Q2 2019 414.56 (2.4 %) 113.15 (7.8 %) 18.61 1021.0 % 0.15
Q3 2019 484.43 0.1 % 137.81 (9.2 %) (32.13) (620.3 %) (0.25)
Q4 2019 513.08 14.0 % 160.86 23.8 % (14.51) 86.8 % (0.11)
Q1 2020 406.21 (13.9 %) 121.17 (10.5 %) 0.17 (96.9 %) 0.00
Q2 2020 389.53 (6.0 %) 115.82 2.4 % (3.24) (117.4 %) (0.03)
Q3 2020 411.24 (15.1 %) 122.14 (11.4 %) (29.74) 7.5 % (0.24)
Q4 2020 362.64 (29.3 %) 91.79 (42.9 %) (15.74) (8.5 %) (0.12)
Q1 2021 426.21 4.9 % 125.61 3.7 % (1.39) (936.7 %) (0.01)
Q2 2021 403.40 3.6 % 114.47 (1.2 %) (0.79) 75.7 % (0.01)
Q3 2021 411.17 0.0 % 116.64 (4.5 %) (26.56) 10.7 % (0.21)
Q4 2021 470.54 29.8 % 129.37 40.9 % (34.75) (120.8 %) (0.27)
Q1 2022 472.98 11.0 % 133.44 6.2 % 10.24 836.9 % 0.08
Q2 2022 414.21 2.7 % 125.32 9.5 % (20.27) (2,482.2 %) (0.16)
Q3 2022 429.62 4.5 % 106.51 (8.7 %) (54.63) (105.7 %) (0.43)
Q4 2022 442.98 (5.9 %) 127.15 (1.7 %) 74.79 315.2 % 0.59
Q1 2023 417.32 (11.8 %) 118.92 (10.9 %) (21.51) (310.2 %) (0.17)
Q2 2023 357.76 (13.6 %) 94.75 (24.4 %) (23.65) (16.6 %) (0.19)
Q3 2023 412.34 (4.0 %) 86.58 (18.7 %) (39.71) 27.3 % (0.31)
Q4 2023 427.35 (3.5 %) 91.32 (28.2 %) (47.77) (163.9 %) (0.38)
2023 1,616.68 (8.0 %) 384.00 (22.7 %) (132.65) (1410.3 %) (1.05)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2014 29.53 % 11.22 % 6.55 %
Q2 2014 29.38 % 10.99 % 7.91 %
Q3 2014 29.51 % 11.11 % 7.93 %
Q4 2014 30.33 % 11.16 % 8.66 %
Q1 2015 30.39 % 11.42 % 8.87 %
Q2 2015 30.70 % 11.52 % 8.82 %
Q3 2015 31.58 % 11.78 % 8.30 %
Q4 2015 32.63 % 12.07 % 7.72 %
Q1 2016 33.13 % 12.07 % 4.56 %
Q2 2016 33.42 % 11.43 % 2.62 %
Q3 2016 33.22 % 10.53 % 0.81 %
Q4 2016 32.05 % 9.63 % 1.47 %
Q1 2017 32.27 % 9.85 % 3.25 %
Q2 2017 31.89 % 9.55 % 2.75 %
Q3 2017 32.11 % 10.89 % 4.13 %
Q4 2017 32.63 % 11.86 % (0.81 %)
Q1 2018 31.66 % 11.71 % (1.29 %)
Q2 2018 31.33 % 12.09 % (1.59 %)
Q3 2018 31.14 % 12.30 % (2.09 %)
Q4 2018 29.80 % 11.55 % (5.77 %)
Q1 2019 29.50 % 11.19 % (6.22 %)
Q2 2019 29.14 % 10.66 % (7.22 %)
Q3 2019 28.36 % 9.94 % (8.74 %)
Q4 2019 29.04 % 10.83 % (3.41 %)
Q1 2020 29.31 % 10.46 % (3.63 %)
Q2 2020 29.87 % 11.09 % (2.77 %)
Q3 2020 30.23 % 11.10 % (2.60 %)
Q4 2020 28.73 % 8.88 % (2.80 %)
Q1 2021 28.65 % 9.04 % (2.86 %)
Q2 2021 28.31 % 8.96 % (2.68 %)
Q3 2021 27.97 % 8.87 % (2.65 %)
Q4 2021 28.40 % 9.71 % (3.71 %)
Q1 2022 28.09 % 9.41 % (3.28 %)
Q2 2022 28.54 % 8.53 % (4.36 %)
Q3 2022 27.67 % 6.69 % (4.15 %)
Q4 2022 27.98 % 7.35 % (3.36 %)
Q1 2023 28.04 % 6.45 % (4.99 %)
Q2 2023 27.15 % 4.60 % (5.79 %)
Q3 2023 26.21 % 2.53 % (6.88 %)
Q4 2023 24.25 % (2.51 %) (8.89 %)
2023 23.75 % (2.51 %) (8.88 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2014 126.39 1.20 1.20 22.05
Q2 2014 126.39 1.48 1.48 21.10
Q3 2014 126.39 1.51 1.51 22.42
Q4 2014 126.39 1.47 1.67 20.64
Q1 2015 126.39 1.53 1.71 21.25
Q2 2015 126.39 1.54 1.66 21.29
Q3 2015 126.39 1.46 1.53 19.86
Q4 2015 126.39 1.27 1.33 19.95
Q1 2016 126.39 0.39 0.77 19.98
Q2 2016 126.39 0.00 0.43 19.20
Q3 2016 126.39 (0.56) 0.13 18.07
Q4 2016 126.39 (1.28) 0.24 18.53
Q1 2017 126.39 (0.72) 0.51 18.60
Q2 2017 126.39 (0.81) 0.42 17.28
Q3 2017 126.39 (0.40) 0.62 16.96
Q4 2017 126.39 (2.56) (0.12) 14.15
Q1 2018 126.39 (2.63) (0.19) 14.02
Q2 2018 126.39 (2.68) (0.24) 13.52
Q3 2018 126.39 (2.75) (0.31) 12.82
Q4 2018 126.39 (0.82) (0.82) 11.26
Q1 2019 126.39 (0.88) (0.90) 11.89
Q2 2019 126.39 (0.71) (1.04) 12.01
Q3 2019 126.39 (0.93) (1.26) 11.74
Q4 2019 126.39 (0.18) (0.51) 11.09
Q1 2020 126.39 (0.22) (0.52) 10.34
Q2 2020 126.39 (0.39) (0.39) 10.29
Q3 2020 126.39 (0.37) (0.35) 11.37
Q4 2020 126.39 (0.38) (0.35) 10.92
Q1 2021 126.39 (0.40) (0.36) 11.33
Q2 2021 126.39 (0.38) (0.34) 11.91
Q3 2021 126.39 (0.35) (0.34) 11.79
Q4 2021 126.39 (0.50) (0.50) 11.09
Q1 2022 126.39 (0.41) (0.46) 10.99
Q2 2022 126.39 (0.56) (0.61) 10.21
Q3 2022 126.39 (0.79) (0.59) 9.70
Q4 2022 126.39 0.08 (0.47) 9.79
Q1 2023 126.39 (0.17) (0.67) 9.44
Q2 2023 126.39 (0.20) (0.76) 9.62
Q3 2023 126.39 (0.08) (0.89) 8.88
Q4 2023 126.39 (1.05) (1.14) 8.57

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2014 21.30 21.30 1.16
Q2 2014 20.60 20.60 1.44
Q3 2014 23.36 23.36 1.57
Q4 2014 16.05 14.15 1.15
Q1 2015 17.61 15.85 1.27
Q2 2015 18.39 17.00 1.33
Q3 2015 14.83 14.10 1.09
Q4 2015 18.49 17.68 1.18
Q1 2016 54.48 27.53 1.06
Q2 2016 NEG 43.35 0.96
Q3 2016 NEG More than 100 0.72
Q4 2016 NEG 74.17 0.97
Q1 2017 NEG 34.31 0.94
Q2 2017 NEG 39.31 0.95
Q3 2017 NEG 24.71 0.90
Q4 2017 NEG NEG 0.91
Q1 2018 NEG NEG 0.79
Q2 2018 NEG NEG 0.88
Q3 2018 NEG NEG 0.78
Q4 2018 NEG NEG 0.82
Q1 2019 NEG NEG 0.77
Q2 2019 NEG NEG 0.75
Q3 2019 NEG NEG 0.78
Q4 2019 NEG NEG 0.82
Q1 2020 NEG NEG 0.81
Q2 2020 NEG NEG 1.00
Q3 2020 NEG NEG 1.23
Q4 2020 NEG NEG 1.50
Q1 2021 NEG NEG 2.16
Q2 2021 NEG NEG 2.26
Q3 2021 NEG NEG 2.11
Q4 2021 NEG NEG 1.72
Q1 2022 NEG NEG 1.73
Q2 2022 NEG NEG 1.48
Q3 2022 NEG NEG 1.39
Q4 2022 More than 100 NEG 1.04
Q1 2023 NEG NEG 1.16
Q2 2023 NEG NEG 1.34
Q3 2023 NEG NEG 1.32
Q4 2023 NEG NEG 1.51

Business Segments (Million)

Compared With The
Period The industrial sector Investments
Q1 2016 555.73 (34.49)
Q2 2016 502.82 (7.49)
Q3 2016 519.22 (37.59)
Q4 2016 506.19 (72.55)
Q1 2017 456.77 13.95
Q2 2017 428.66 9.30
Q3 2017 503.24 (8.06)
Q4 2017 499.16 (362.41)
Q1 2018 449.18 5.04
Q2 2018 424.80 (0.82)
Q3 2018 474.07 (20.42)
Q4 2018 449.88 (112.01)
Q1 2019 471.87 2.32
Q2 2019 414.56 (8.12)
Q3 2019 484.43 (31.43)
Q4 2019 513.08 4.46
Q1 2020 406.21 9.08
Q2 2020 389.53 7.66
Q3 2020 411.24 (26.77)
Q4 2020 362.64 9.33
Q1 2021 426.21 2.85
Q2 2021 403.40 4.75
Q3 2021 411.17 (24.95)
Q4 2021 470.54 (29.39)
Q1 2022 472.98 14.83
Q2 2022 414.21 (4.22)
Q3 2022 432.26 (17.51)
Q4 2022 431.56 88.94
Q1 2023 419.23 2.32
Q2 2023 356.77 11.20
Q3 2023 410.92 2.31
Q4 2023 425.97 20.38

Current
Market Cap (M Riyal) 1,615.25
Enterprise Value (EV) (M) 2,418.79
Shares Outstanding ((M)) 126.39
EPS ( Riyal) (TTM) (0.99)
Book Value (BV) ( Riyal) 8.27
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 1.55
Return on Average Assets (%) (TTM) (4.82 )
Return on Average Equity (%) (TTM) (11.18 )

Share Price

12.82
(0.08) (0.62 %)

Sinad Holding Co. (SINAD HOLDING)


Comments {{getCommentCount()}}

Be the first to comment

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