In this report, Argaam highlights the expected financial results of Astra Industrial Group in the second quarter of 2024, as well as its key events, revenue, and profitability indicators.
The three-month revenue is expected to rise 13.94% year-on-year (YoY) to SAR 760 million.
| Item | Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 (Average Estimate) |
|---|---|---|---|---|---|
| Sales | 659.59 | 643.21 | 776.72 | 833.04 | 760.00 |
| Change % | 8.39% | 3.40% | 6.54% | 11.33% | 15.22% |
| Item | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 (Average Estimate) |
|---|---|---|---|---|---|
| Net Income | 114.74 | 103.42 | 134.28 | 149.74 | 135.61 |
| Extraordinary income/expense | 0.00 | 0.00 | 0.00 | 0.00 | - |
| Net Profit Before Unusual Items | 114.74 | 103.42 | 134.28 | 149.74 | - |
| EPS Before Unusual Items (Riyal/Share) | 1.43 | 1.29 | 1.68 | 1.87 | 1.70 |
Key Events in Q2 2024
Astra Industrial’s shareholders approved buying back up to 300,000 shares to be held as treasury shares, constituting no more than 0.375% of the total issued shares, to allocate them for the employee stock option.
The company’s shareholders also approved a cash dividend at 25% of capital, or SAR 2.5 a share, for 2023.
They further authorized the board to distribute interim dividends semi-annually or quarterly for 2024.
Astra’s general meeting approved transferring SAR 406.6 million statutory reserve (as per 2023 financial statements) to retained earnings.
Average Estimates
Astra’s profits are projected to rise to SAR 135.6 million in Q2 2024 from SAR 114.7 million in the same period last year, according to the average estimates by five research firms.
| Analyst | Million Riyals |
|---|---|
| Value Capital Co. | 147.76 |
| Al Rajhi Capital Company | 137.00 |
| GIB Capital LLC | 137.00 |
| Osool and Bakheet Investment Co. | 132.27 |
| United Securities Company | 124.00 |
| Average | 135.61 |
| Net Profit Before Unusual Items (2023 - Q2) | 114.74 |
| Change % | 18.18% |
Performance and profitability indicators
The following table shows the stock performance and P/E ratio as well as the earnings per share trailing 12 months (TTM) and year to date (YTD)
| Item | The Company | TASI |
|---|---|---|
| YTD | (8.56 %) | 0.07 % |
| Change(12M) | 0.98 % | 3.52 % |
| Previous Close | 156.00 | 12,045.78 |
| P/E adjusted (x) | 24.85 | 26.24 |
| EPS (TTM) before unusual items (SAR/Share) | 6.28 | - |
| P/E (TTM) | 22.34 |
| P/E Before Unusual Items (TTM) | 24.37 |
| P/BV | 5.22 |
| Dividend Yield | - |
| Market Cap. (M) | 13,168.00 |
| Return on Average Assets | 13.71 % |
| Return on Average Equity | 17.34 % |
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