Sinad Holding narrows Q1 2024 loss to SAR 14M

Sinad Holding narrows Q1 2024 loss to SAR 14M

14/05/2024 Argaam Exclusive

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Sinad Holding Co. cut its net loss to SAR 14 million in Q1 2024 from SAR 21.5 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 417.32 443.88 6.4 %
Gross Income 118.92 133.35 12.1 %
Operating Income (3.50) 10.82 409.0 %
Net Income (21.51) (14.02) 34.8 %
Average Shares 126.39 126.39 -
EPS (Riyals) (0.17) (0.11) 34.8 %

The losses were due to higher sales of subsidiaries, along with an increase in gross profit and recording operating profits compared to operating losses during the same quarter of the previous year. The company also cited a decrease in selling and distribution expenses, as well as higher other operating revenues, a decrease in Zakat expenses, and recording income tax revenue versus income tax expenses during the same quarter of the previous year.

 

Sequentially, the company cut Q1 2024 losses from SAR 47.77 million in Q4 2023.

 

Total shareholders’ equity, excluding minority interest, stood at SAR 1.04 billion as of March 31, 2024, compared to SAR 1.19 billion a year earlier.

 

Accumulated losses reached SAR 174.3 million as of March 31, 2024, representing 13.79% of the company’s capital. 

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
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)
Q1 2024 443.88 6.4 % 133.35 12.1 % (14.02) 34.8 % (0.11)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %)
Q1 2024 24.74 % (2.01 %) (8.29 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q1 2024 126.39 (0.99) (1.08) 8.27

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q1 2024 NEG NEG 1.56

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
Q1 2024 441.59 6.46


Financial Ratios
Current
Market Cap (M Riyal) 1,627.89
Enterprise Value (EV) (M) 2,431.43
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 1.56
Return on Average Assets (%) (TTM) (4.82 )
Return on Average Equity (%) (TTM) (11.18 )
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Share Price

Sinad Holding Co.
12.88
(0.02) (0.16 %)

Sinad Holding Co. (SINAD HOLDING)

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