Quara Finance 2023 profit up 6% to SAR 53.8M; Q4 profit at SAR 5.6M

26/03/2024 Argaam Exclusive

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Quara Finance Co.’s net profit for 2023 rose by 6% to SAR 53.8 million, compared to SAR 50.8 million in 2022.

The profit rise was attributed to growing demand for financial products, as the company was able to maintain a good yield on the products year-on-year (YoY) due to its focus on retail products.

Financials (M)

Item	2022	2023	Change‬
Net income from finance commissions	156.12	178.71	14.5 %
Net Income	50.84	53.79	5.8 %
Average Shares	30.00	30.00	-
EPS (Riyals)	1.69	1.79	5.8 %

Q4 net profit fell 56% to SAR 5.6 million from SAR 12.8 million in Q4 2022.

Sequentially, Q4 profit fell 72.2% to SAR 20.2 million in Q3 2023.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2022	H2 2023	Change‬
Net income from finance commissions	76.79	85.64	11.5 %
Net Income	25.58	25.89	1.2 %
Average Shares	30.00	30.00	-
EPS (Riyals)	0.85	0.86	1.2 %

Item	H1 2023	H2 2023	Change‬
Net income from finance commissions	93.07	85.64	(8.0 %)
Net Income	27.90	25.89	(7.2 %)
Average Shares	30.00	30.00	-
EPS (Riyals)	0.93	0.86	(7.2 %)

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Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
H1 2014	-	-	-	-	-	-
H2 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	2.37	-	0.24	-	2.37	0.24
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	3.18	34.2 %	0.21	-	3.18	0.21
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	(1.81)	(156.8 %)	(0.12)	-	(1.81)	(0.12)
H1 2019	(0.64)	-	(0.04)	-	(0.64)	(0.04)
H2 2019	5.38	-	0.36	-	5.38	0.36
2019	4.74	362.4 %	0.32	-	4.74	0.32
H1 2020	(27.75)	(4,241.1 %)	(1.85)	-	(27.75)	(1.85)
H2 2020	(23.62)	(538.8 %)	(0.79)	-	(23.62)	(0.79)
2020	(51.36)	(1183.1 %)	(1.71)	-	(51.36)	(1.71)
H1 2021	1.24	104.5 %	0.04	-	1.24	0.04
H2 2021	30.55	229.4 %	1.02	-	30.55	1.02
2021	31.80	161.9 %	1.06	-	31.80	1.06
H1 2022	25.26	1935.4 %	0.84	-	25.26	0.84
H2 2022	25.58	(16.3 %)	0.85	-	25.58	0.85
2022	50.84	59.9 %	1.69	-	50.84	1.69
H1 2023	27.90	10.4 %	0.93	-	27.90	0.93
H2 2023	25.89	1.2 %	0.86	-	25.89	0.86
2023	53.79	5.8 %	1.79	-	53.79	1.79

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	2.37	-	0.24	-	2.37	0.24
2017	3.18	34.2 %	0.21	-	3.18	0.21
2018	(1.81)	(156.8 %)	(0.12)	-	(1.81)	(0.12)
2019	4.74	362.4 %	0.32	-	4.74	0.32
2020	(51.36)	(1183.1 %)	(1.71)	-	(51.36)	(1.71)
2021	31.80	161.9 %	1.06	-	31.80	1.06
2022	50.84	59.9 %	1.69	-	50.84	1.69
2023	53.79	5.8 %	1.79	-	53.79	1.79

Financial results (Million)

Period	Commission income from finance and investments	Change	Net income from finance commissions	Change
H1 2014	-	-	-	-
H2 2014	-	-	-	-
2014	-	-	-	-
H1 2015	-	-	-	-
H2 2015	-	-	-	-
2015	-	-	-	-
H1 2016	-	-	-	-
H2 2016	-	-	-	-
2016	11.51	-	11.51	-
H1 2017	-	-	-	-
H2 2017	-	-	-	-
2017	30.09	161.4 %	25.62	122.6 %
H1 2018	-	-	-	-
H2 2018	-	-	-	-
2018	31.91	6.1 %	23.90	(6.7 %)
H1 2019	23.42	-	13.55	-
H2 2019	28.89	-	19.17	-
2019	52.31	63.9 %	32.72	36.9 %
H1 2020	24.40	4.2 %	7.08	(47.7 %)
H2 2020	23.32	(19.3 %)	13.97	(27.1 %)
2020	47.72	(8.8 %)	21.06	(35.6 %)
H1 2021	80.46	229.7 %	69.55	882.0 %
H2 2021	86.59	271.4 %	78.51	461.8 %
2021	167.05	250.1 %	148.06	603.1 %
H1 2022	84.41	4.9 %	79.33	14.1 %
H2 2022	86.14	(0.5 %)	76.79	(2.2 %)
2022	170.55	2.1 %	156.12	5.4 %
H1 2023	98.05	16.2 %	93.07	17.3 %
H2 2023	89.56	4.0 %	85.64	11.5 %
2023	187.61	10.0 %	178.71	14.5 %

Period	Commission income from finance and investments	Change	Net income from finance commissions	Change
2014	-	-	-	-
2015	-	-	-	-
2016	11.51	-	11.51	-
2017	30.09	161.4 %	25.62	122.6 %
2018	31.91	6.1 %	23.90	(6.7 %)
2019	52.31	63.9 %	32.72	36.9 %
2020	47.72	(8.8 %)	21.06	(35.6 %)
2021	167.05	250.1 %	148.06	603.1 %
2022	170.55	2.1 %	156.12	5.4 %
2023	187.61	10.0 %	178.71	14.5 %

Profitability

Period	Return On Average Assets	Return on Average Equity	Net Profit/Investment Income & Other Financing Operations
H1 2014	-	-	-
H2 2014	-	-	-
2014	-	-	-
H1 2015	-	-	-
H2 2015	-	-	-
2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
2016	-	-	20.58 %
H1 2017	-	-	-
H2 2017	-	-	-
2017	1.86 %	2.66 %	10.57 %
H1 2018	-	-	-
H2 2018	-	-	-
2018	(0.61 %)	(1.26 %)	(5.66 %)
H1 2019	-	-	-
H2 2019	-	-	9.07 %
2019	1.25 %	3.29 %	9.07 %
H1 2020	-	(17.20 %)	(41.97 %)
H2 2020	(7.18 %)	(26.22 %)	(107.64 %)
2020	(7.18 %)	(26.22 %)	(107.64 %)
H1 2021	(2.64 %)	(12.25 %)	(21.56 %)
H2 2021	2.99 %	11.93 %	19.03 %
2021	2.99 %	11.93 %	19.03 %
H1 2022	5.23 %	20.34 %	32.64 %
H2 2022	5.00 %	16.23 %	29.81 %
2022	5.00 %	16.23 %	29.81 %
H1 2023	5.63 %	15.99 %	29.03 %
H2 2023	6.35 %	14.71 %	28.67 %
2023	6.35 %	14.71 %	28.67 %

Period	Return On Average Assets	Return on Average Equity	Net Profit/Investment Income & Other Financing Operations
2014	-	-	-
2015	-	-	-
2016	-	-	20.58 %
2017	1.86 %	2.66 %	10.57 %
2018	(0.61 %)	(1.26 %)	(5.66 %)
2019	1.25 %	3.29 %	9.07 %
2020	(7.18 %)	(26.22 %)	(107.64 %)
2021	2.99 %	11.93 %	19.03 %
2022	5.00 %	16.23 %	29.81 %
2023	6.35 %	14.71 %	28.67 %

Balance Sheet (B)

Period	Assets	Change	Net Finance Investments	Change
Q2 2014	-	-	-	-
Q4 2014	-	-	-	-
Q2 2015	-	-	-	-
Q4 2015	-	-	-	-
Q2 2016	-	-	-	-
Q4 2016	-	-	-	-
Q2 2017	-	-	-	-
Q4 2017	-	-	-	-
Q2 2018	-	-	-	-
Q4 2018	-	-	-	-
Q2 2019	-	-	-	-
Q4 2019	0.40	-	0.34	-
Q2 2020	0.57	-	0.38	-
Q4 2020	1.03	155.3 %	0.88	158.8 %
Q2 2021	1.12	95.3 %	1.05	179.4 %
Q4 2021	1.10	7.3 %	0.87	(0.8 %)
Q2 2022	1.01	(9.9 %)	0.70	(33.6 %)
Q4 2022	0.93	(15.6 %)	0.71	(18.5 %)
Q2 2023	0.89	(12.0 %)	0.73	3.7 %
Q4 2023	0.77	(17.8 %)	0.68	(4.7 %)

Period	Assets	Change	Net Finance Investments	Change
6m 2014	-	-	-	-
12m 2014	-	-	-	-
6m 2015	-	-	-	-
12m 2015	-	-	-	-
6m 2016	-	-	-	-
12m 2016	0.10	-	0.09	-
6m 2017	-	-	-	-
12m 2017	0.24	129.5 %	0.19	123.4 %
6m 2018	-	-	-	-
12m 2018	0.35	48.8 %	0.26	34.2 %
6m 2019	-	-	-	-
12m 2019	0.40	13.4 %	0.34	32.5 %
6m 2020	0.57	-	0.38	-
12m 2020	1.03	155.3 %	0.88	158.8 %
6m 2021	1.12	95.3 %	1.05	179.4 %
12m 2021	1.10	7.3 %	0.87	(0.8 %)
6m 2022	1.01	(9.9 %)	0.70	(33.6 %)
12m 2022	0.93	(15.6 %)	0.71	(18.5 %)
6m 2023	0.89	(12.0 %)	0.73	3.7 %
12m 2023	0.77	(17.8 %)	0.68	(4.7 %)

Period	Assets	Change	Net Finance Investments	Change
2014	-	-	-	-
2015	-	-	-	-
2016	0.10	-	0.09	-
2017	0.24	129.5 %	0.19	123.4 %
2018	0.35	48.8 %	0.26	34.2 %
2019	0.40	13.4 %	0.34	32.5 %
2020	1.03	155.3 %	0.88	158.8 %
2021	1.10	7.3 %	0.87	(0.8 %)
2022	0.93	(15.6 %)	0.71	(18.5 %)
2023	0.77	(17.8 %)	0.68	(4.7 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
H1 2014	-	-	-	-
H2 2014	-	-	-	-
H1 2015	-	-	-	-
H2 2015	-	-	-	-
H1 2016	-	-	-	-
H2 2016	-	-	-	-
H1 2017	-	-	-	-
H2 2017	-	-	-	-
H1 2018	-	-	-	-
H2 2018	-	-	-	-
H1 2019	15.00	-	-	9.41
H2 2019	15.00	0.32	0.32	9.77
H1 2020	15.00	(1.49)	(1.49)	7.92
H2 2020	30.00	(1.71)	(1.71)	8.17
H1 2021	30.00	(0.75)	(0.75)	8.22
H2 2021	30.00	1.06	1.06	9.60
H1 2022	30.00	1.86	1.86	10.08
H2 2022	30.00	1.69	1.69	11.29
H1 2023	30.00	1.78	1.78	12.22
H2 2023	30.00	1.79	1.79	13.08

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	-	-	-	-
2015	-	-	-	-
2016	10.00	0.24	0.24	9.40
2017	15.00	0.21	0.21	9.64
2018	15.00	(0.12)	(0.12)	9.46
2019	15.00	0.32	0.32	9.77
2020	30.00	(1.71)	(1.71)	8.17
2021	30.00	1.06	1.06	9.60
2022	30.00	1.69	1.69	11.29
2023	30.00	1.79	1.79	13.08

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
H1 2014	-	-	-
H2 2014	-	-	-
H1 2015	-	-	-
H2 2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
H1 2017	-	-	-
H2 2017	-	-	-
H1 2018	-	-	-
H2 2018	-	-	-
H1 2019	-	-	-
H2 2019	-	-	-
H1 2020	-	-	-
H2 2020	-	-	-
H1 2021	-	-	-
H2 2021	-	-	-
H1 2022	-	-	-
H2 2022	-	-	-
H1 2023	-	-	-
H2 2023	-	-	-

Period	P/E	Adjusted P/E	Price/book
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-
2022	-	-	-
2023	-	-	-

Financial Ratios

	Current
Market Cap (M)	525.00
Shares Outstanding ((M))	30.00
Book Value (BV) ( Riyal)	13.08
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	9.76
Price/book	1.34

Quara Finance Co. (QUARA)

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Quara Finance 2023 profit up 6% to SAR 53.8M; Q4 profit at SAR 5.6M

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Financials (M)

Current Half Annual Comparison (M)

Profit Performance (Million)

Profit Performance (Million)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Balance Sheet (B)

Balance Sheet Performance (B)

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Financial Ratios

Share Price

Quara Finance Co. (QUARA)

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Quara Finance 2023 profit up 6% to SAR 53.8M; Q4 profit at SAR 5.6M

View other reports

Financials (M)

Current Half Annual Comparison (M)

Profit Performance (Million)

Profit Performance (Million)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Balance Sheet (B)

Balance Sheet Performance (B)

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Financial Ratios

Share Price

Quara Finance Co. (QUARA)

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