Fitaihi's H1 2024 net profit spikes to SAR 10.1M; Q2 at SAR 8M

Fitaihi's H1 2024 net profit spikes to SAR 10.1M; Q2 at SAR 8M

08/08/2024 Argaam Exclusive

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Fitaihi Holding Group posted SAR 10.06 million net profit for H1 2024, a rise of 114% compared to SAR 4.69 million in the prior-year period, according to a statement to Tadawul.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 28.70 19.65 (31.5 %)
Gross Income 12.97 8.26 (36.3 %)
Operating Income (0.58) (4.15) (611.6 %)
Net Income 4.70 10.07 114.4 %
Average Shares 275.00 275.00 -
EPS (Riyals) 0.02 0.04 114.4 %

The company's Q2 net profit amounted to SAR 8.03 million, up 161% year-on-year from SAR 3.07 million.

 

The company attributed the profit rise to an increase in dividend distributions from equity instruments at fair value, coupled with generating profit from the results of an associate by SAR 8.2 million, as well as a decline in selling, distribution, general & administrative expenses.



Current Quarter Comparison (M)

Compared With The
Item Q2 2023 Q2 2024 Change‬
Revenues 10.44 10.79 3.3 %
Gross Income 4.59 4.02 (12.3 %)
Operating Income (2.04) (2.08) (2.2 %)
Net Income 3.08 8.03 161.0 %
Average Shares 275.00 275.00 -
EPS (Riyals) 0.01 0.03 161.0 %

Shareholders' equity (no minority interest) amounted to SAR 469.445 million, compared to SAR 458.148 million in the same period a year ago.

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2015 68.94 (7.8 %) 33.65 (8.3 %) 7.00 (32.5 %)
Q2 2015 72.01 (3.6 %) 35.82 (2.0 %) 8.17 (5.4 %)
Q3 2015 56.72 (26.7 %) 27.80 (26.0 %) (4.47) (172.6 %)
Q4 2015 65.89 (8.0 %) 30.15 (6.0 %) (0.01) (100.3 %)
Q1 2016 48.34 (29.9 %) 24.29 (27.8 %) (2.08) (129.7 %)
Q2 2016 61.36 (14.8 %) 28.73 (19.8 %) 1.07 (86.9 %)
Q3 2016 37.24 (34.3 %) 18.57 (33.2 %) (5.12) (14.4 %)
Q4 2016 48.42 (26.5 %) 18.63 (38.2 %) (16.69) (166,810.0 %)
Q1 2017 51.08 5.7 % 21.23 (12.6 %) (0.01) 99.3 %
Q2 2017 50.50 (17.7 %) 22.66 (21.1 %) 0.26 (75.8 %)
Q3 2017 19.30 (48.2 %) 9.51 (48.8 %) (9.56) (86.8 %)
Q4 2017 33.97 (29.9 %) 15.42 (17.2 %) (23.08) (38.3 %)
Q1 2018 28.78 (43.7 %) 12.51 (41.1 %) (3.04) (21,642.9 %)
Q2 2018 36.80 (27.1 %) 17.20 (24.1 %) (0.84) (423.8 %)
Q3 2018 19.97 3.5 % 9.86 3.6 % (4.45) 53.4 %
Q4 2018 29.47 (13.2 %) 13.43 (12.9 %) (12.67) 45.1 %
Q1 2019 21.14 (26.6 %) 7.79 (37.7 %) (1.12) 63.1 %
Q2 2019 17.97 (51.2 %) 7.85 (54.3 %) (1.87) (122.6 %)
Q3 2019 11.57 (42.1 %) 5.71 (42.1 %) (2.97) 33.3 %
Q4 2019 20.55 (30.3 %) 8.04 (40.1 %) (0.43) 96.6 %
Q1 2020 18.02 (14.7 %) 8.50 9.2 % (3.24) (187.8 %)
Q2 2020 9.38 (47.8 %) 0.86 (89.1 %) (5.71) (204.7 %)
Q3 2020 9.92 (14.3 %) 4.84 (15.1 %) (1.54) 48.0 %
Q4 2020 15.93 (22.5 %) 7.04 (12.5 %) (1.61) (275.5 %)
Q1 2021 13.71 (24.0 %) 6.09 (28.4 %) (1.71) 47.2 %
Q2 2021 13.95 48.6 % 6.11 614.3 % (1.71) 70.1 %
Q3 2021 9.45 (4.7 %) 4.02 (16.9 %) (3.50) (126.8 %)
Q4 2021 15.57 (2.3 %) (11.25) (259.9 %) (17.85) (1,010.8 %)
Q1 2022 23.29 69.9 % 4.98 (18.2 %) (1.39) 18.9 %
Q2 2022 12.82 (8.1 %) 6.44 5.5 % 0.41 123.9 %
Q3 2022 7.98 (15.6 %) 3.94 (2.0 %) (1.96) 44.0 %
Q4 2022 9.27 (40.5 %) 4.06 136.1 % (1.47) 91.7 %
Q1 2023 18.26 (21.6 %) 8.39 68.4 % 1.46 205.0 %
Q2 2023 10.44 (18.5 %) 4.59 (28.8 %) (2.04) (598.3 %)
Q3 2023 6.95 (12.9 %) 2.92 (26.0 %) (3.44) (75.4 %)
Q4 2023 10.07 8.7 % 4.87 19.9 % (1.74) (17.8 %)
Q1 2024 8.86 (51.5 %) 4.24 (49.5 %) (2.07) (241.9 %)
Q2 2024 10.79 3.3 % 4.02 (12.3 %) (2.08) (2.2 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2015 16.79 (30.4 %) 0.06 - 16.79 0.06
Q2 2015 21.54 (11.9 %) 0.08 - 21.54 0.08
Q3 2015 9.72 (24.3 %) 0.04 - 9.72 0.04
Q4 2015 (7.49) (185.7 %) (0.03) (11.59) 4.10 0.01
Q1 2016 (30.20) (279.8 %) (0.11) (32.32) 2.12 0.01
Q2 2016 26.31 22.1 % 0.10 (18.26) 44.56 0.16
Q3 2016 3.14 (67.7 %) 0.01 (2.28) 5.43 0.02
Q4 2016 (17.85) (138.4 %) (0.06) - (17.85) (0.06)
Q1 2017 11.94 139.5 % 0.04 3.50 8.44 0.03
Q2 2017 13.11 (50.2 %) 0.05 0.68 12.43 0.05
Q3 2017 (4.62) (246.9 %) (0.02) 0.32 (4.94) (0.02)
Q4 2017 (19.73) (10.5 %) (0.07) 0.03 (19.76) (0.07)
Q1 2018 1.50 (87.5 %) 0.01 - 1.50 0.01
Q2 2018 13.63 3.9 % 0.05 - 13.63 0.05
Q3 2018 (0.15) 96.7 % 0.00 - (0.15) 0.00
Q4 2018 (7.20) 63.5 % (0.03) - (7.20) (0.03)
Q1 2019 5.56 271.5 % 0.02 - 5.56 0.02
Q2 2019 7.45 (45.3 %) 0.03 - 7.45 0.03
Q3 2019 2.18 1515.6 % 0.01 - 2.18 0.01
Q4 2019 (24.73) (243.5 %) (0.09) (24.84) 0.11 0.00
Q1 2020 (2.42) (143.5 %) (0.01) (0.69) (1.72) (0.01)
Q2 2020 (16.87) (326.3 %) (0.06) (5.32) (11.55) (0.04)
Q3 2020 38.06 1645.9 % 0.14 31.20 6.87 0.02
Q4 2020 11.22 145.4 % 0.04 9.50 1.73 0.01
Q1 2021 130.11 5487.4 % 0.47 125.70 4.40 0.02
Q2 2021 17.01 200.8 % 0.06 - 17.01 0.06
Q3 2021 6.92 (81.8 %) 0.03 3.79 3.14 0.01
Q4 2021 (4.40) (139.2 %) (0.02) 10.00 (14.40) (0.05)
Q1 2022 7.65 (94.1 %) 0.03 - 7.65 0.03
Q2 2022 9.19 (46.0 %) 0.03 - 9.19 0.03
Q3 2022 (20.77) (400.0 %) (0.08) - (20.77) (0.08)
Q4 2022 (27.93) (535.2 %) (0.10) - (27.93) (0.10)
Q1 2023 1.62 (78.8 %) 0.01 - 1.62 0.01
Q2 2023 3.08 (66.5 %) 0.01 - 3.08 0.01
Q3 2023 (2.43) 88.3 % (0.01) - (2.43) (0.01)
Q4 2023 1.16 104.1 % 0.00 - 1.16 0.00
Q1 2024 2.04 25.8 % 0.01 - 2.04 0.01
Q2 2024 8.03 161.0 % 0.03 - 8.03 0.03

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2015 47.80 % 13.64 % 15.97 %
Q2 2015 47.99 % 13.73 % 19.78 %
Q3 2015 48.03 % 10.77 % 21.09 %
Q4 2015 48.34 % 9.88 % 19.79 %
Q1 2016 48.59 % 6.73 % 15.43 %
Q2 2016 47.77 % 4.01 % 26.04 %
Q3 2016 47.80 % 4.48 % 26.41 %
Q4 2016 46.18 % (1.77 %) 17.54 %
Q1 2017 44.00 % (0.59 %) 20.48 %
Q2 2017 43.31 % (0.96 %) 4.51 %
Q3 2017 42.55 % (3.80 %) (1.13 %)
Q4 2017 44.44 % (5.68 %) (2.47 %)
Q1 2018 45.34 % (10.05 %) (8.13 %)
Q2 2018 45.98 % (11.61 %) (8.06 %)
Q3 2018 46.01 % (8.52 %) (4.01 %)
Q4 2018 46.08 % (2.88 %) 6.76 %
Q1 2019 44.96 % (0.17 %) 11.02 %
Q2 2019 43.96 % (2.18 %) 6.39 %
Q3 2019 43.39 % 1.53 % 9.97 %
Q4 2019 41.26 % 11.05 % 21.48 %
Q1 2020 44.20 % 7.19 % 11.77 %
Q2 2020 38.82 % 0.52 % (18.46 %)
Q3 2020 38.43 % (1.33 %) (10.88 %)
Q4 2020 39.88 % 9.90 % (8.78 %)
Q1 2021 38.46 % 11.06 % 2.96 %
Q2 2021 45.00 % 14.48 % 56.07 %
Q3 2021 43.85 % 10.82 % 49.54 %
Q4 2021 9.43 % (37.21 %) 19.27 %
Q1 2022 6.20 % (32.20 %) 21.52 %
Q2 2022 6.86 % (30.54 %) 9.13 %
Q3 2022 6.90 % (29.88 %) (30.73 %)
Q4 2022 36.41 % (3.65 %) (59.73 %)
Q1 2023 47.25 % 1.90 % (78.44 %)
Q2 2023 45.66 % (3.27 %) (95.79 %)
Q3 2023 44.42 % (6.47 %) (57.15 %)
Q4 2023 45.40 % (6.94 %) 7.49 %
Q1 2024 45.72 % (18.40 %) 15.49 %
Q2 2024 43.75 % (18.34 %) 28.85 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2015 275.00 0.23 0.17 2.69
Q2 2015 275.00 0.22 0.21 2.79
Q3 2015 275.00 0.21 0.21 2.78
Q4 2015 275.00 0.15 0.19 2.70
Q1 2016 275.00 (0.02) 0.14 2.38
Q2 2016 275.00 (0.01) 0.22 2.46
Q3 2016 275.00 (0.03) 0.20 2.54
Q4 2016 275.00 (0.07) 0.12 2.48
Q1 2017 275.00 0.09 0.15 2.61
Q2 2017 275.00 0.04 0.03 2.64
Q3 2017 275.00 0.01 (0.01) 2.64
Q4 2017 275.00 0.00 (0.01) 2.49
Q1 2018 275.00 (0.04) (0.04) 2.49
Q2 2018 275.00 (0.03) (0.03) 2.38
Q3 2018 275.00 (0.02) (0.02) 2.34
Q4 2018 275.00 0.03 0.03 2.30
Q1 2019 275.00 0.04 0.04 2.35
Q2 2019 275.00 0.02 0.02 2.31
Q3 2019 275.00 0.03 0.03 2.28
Q4 2019 275.00 (0.03) 0.06 2.21
Q1 2020 275.00 (0.06) 0.03 2.13
Q2 2020 275.00 (0.15) (0.04) 2.07
Q3 2020 275.00 (0.02) (0.02) 2.24
Q4 2020 275.00 0.11 (0.02) 2.28
Q1 2021 275.00 0.59 0.01 2.74
Q2 2021 275.00 0.71 0.11 2.86
Q3 2021 275.00 0.60 0.10 1.91
Q4 2021 275.00 0.54 0.04 1.85
Q1 2022 275.00 0.10 0.05 1.80
Q2 2022 275.00 0.07 0.02 1.69
Q3 2022 275.00 (0.03) (0.07) 1.61
Q4 2022 275.00 (0.12) (0.12) 1.62
Q1 2023 275.00 (0.14) (0.14) 1.64
Q2 2023 275.00 (0.16) (0.16) 1.67
Q3 2023 275.00 (0.09) (0.09) 1.68
Q4 2023 275.00 0.01 0.01 1.73
Q1 2024 275.00 0.02 0.02 1.57
Q2 2024 275.00 0.04 0.04 1.71

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2015 18.14 24.38 1.54
Q2 2015 19.35 20.21 1.51
Q3 2015 15.01 15.01 1.11
Q4 2015 17.35 13.50 0.95
Q1 2016 NEG 17.84 1.02
Q2 2016 NEG 12.36 1.11
Q3 2016 NEG 8.95 0.72
Q4 2016 NEG 17.98 0.90
Q1 2017 25.15 14.59 0.82
Q2 2017 56.47 69.10 0.80
Q3 2017 More than 100 NEG 0.86
Q4 2017 More than 100 NEG 0.86
Q1 2018 NEG NEG 0.81
Q2 2018 NEG NEG 0.88
Q3 2018 NEG NEG 0.85
Q4 2018 65.32 65.32 0.80
Q1 2019 44.32 44.32 0.81
Q2 2019 92.87 92.87 0.83
Q3 2019 65.75 65.75 0.84
Q4 2019 NEG 35.21 0.89
Q1 2020 NEG 53.92 0.74
Q2 2020 NEG NEG 0.85
Q3 2020 NEG NEG 1.51
Q4 2020 27.75 NEG 1.33
Q1 2021 9.02 More than 100 1.95
Q2 2021 8.52 55.80 2.13
Q3 2021 8.95 56.31 2.81
Q4 2021 7.49 More than 100 2.21
Q1 2022 40.72 82.61 2.23
Q2 2022 42.74 More than 100 1.79
Q3 2022 NEG NEG 1.94
Q4 2022 NEG NEG 1.84
Q1 2023 NEG NEG 1.78
Q2 2023 NEG NEG 2.30
Q3 2023 NEG NEG 1.89
Q4 2023 More than 100 More than 100 1.79
Q1 2024 More than 100 More than 100 2.60
Q2 2024 98.25 98.25 2.21

Business Segments (Million)

Compared With The
Period Business Activities Investment activity
Q4 2023 10.07 3.04


Financial Ratios
Current
Market Cap (M Riyal) 1,119.25
Enterprise Value (EV) (M) 1,113.27
Shares Outstanding ((M)) 275.00
EPS ( Riyal) (TTM) 0.04
Book Value (BV) ( Riyal) 1.71
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 2.38
Return on Average Assets (%) (TTM) 2.5
Return on Average Equity (%) (TTM) 2.6
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Share Price

Fitaihi Holding Group
4.07
(0.02) (0.49 %)

Fitaihi Holding Group (FITAIHI GROUP)

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