Aldrees net profit soars 58% to SAR 62.4 mln in Q1 2022

17/04/2022 Argaam Exclusive

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Share Price

Aldrees Petroleum and Transport Services Co. (ALDREES)

Aldrees Petroleum and Transport Services Co. (Aldrees) reported a net profit after Zakat and tax of SAR 62.4 million for the first quarter of 2022, a rise of 58% from SAR 39.4 million in the prior-year period.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2021	Q1 2022	Change‬
Revenues	1,759.66	2,780.13	58.0 %
Gross Income	101.01	136.18	34.8 %
Operating Income	63.40	83.99	32.5 %
Net Income	39.36	62.42	58.6 %
Average Shares	100.00	100.00	-
EPS (Riyals)	0.39	0.62	58.6 %

Item	Q4 2021	Q1 2022	Change‬
Revenues	2,620.38	2,780.13	6.1 %
Gross Income	128.70	136.18	5.8 %
Operating Income	83.61	83.99	0.5 %
Net Income	54.09	62.42	15.4 %
Average Shares	100.00	100.00	-
EPS (Riyals)	0.54	0.62	15.4 %

The company attributed the profit growth to a rise in sales of the petroleum and transport divisions. It also noted an increase in unrealized profit from revaluation of investment at fair value through profit and loss account.

The profit rise was offset by an increase in marketing, general, administrative & financial, and Zakat expenses, along with a decrease in the profit from the joint venture profit and other income.

When compared to Q4 2021, the net profit after Zakat and tax rose 15.4% from SAR 54.09 million.

Shareholders’ equity, excluding minority interest, rose 1.4% to SAR 945.1 million in Q1 2022, from SAR 931.8 million in the year-ago period.

View more financial results

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2013	490.06	8.3 %	44.86	9.1 %	23.56	3.5 %	0.24
Q2 2013	503.26	6.2 %	47.79	5.6 %	27.40	3.6 %	0.27
Q3 2013	486.18	5.2 %	46.17	12.3 %	24.34	7.6 %	0.24
Q4 2013	503.18	3.8 %	48.83	11.0 %	26.40	11.3 %	0.26
2013	1,982.68	5.8 %	187.65	9.4 %	101.69	6.4 %	1.02
Q1 2014	518.59	5.8 %	55.62	24.0 %	30.51	29.5 %	0.31
Q2 2014	550.68	9.4 %	62.52	30.8 %	35.36	29.1 %	0.35
Q3 2014	531.96	9.4 %	54.83	18.8 %	26.56	9.1 %	0.27
Q4 2014	543.09	7.9 %	54.14	10.9 %	31.29	18.5 %	0.31
2014	2,144.32	8.2 %	227.11	21.0 %	123.73	21.7 %	1.24
Q1 2015	563.95	8.7 %	65.65	18.0 %	41.99	37.6 %	0.42
Q2 2015	580.01	5.3 %	64.86	3.8 %	36.77	4.0 %	0.37
Q3 2015	566.53	6.5 %	56.33	2.7 %	32.31	21.7 %	0.32
Q4 2015	592.50	9.1 %	65.00	20.1 %	32.96	5.3 %	0.33
2015	2,302.99	7.4 %	251.84	10.9 %	144.04	16.4 %	1.44
Q1 2016	843.73	49.6 %	57.62	(12.2 %)	27.78	(33.8 %)	0.28
Q2 2016	896.65	54.6 %	58.57	(9.7 %)	28.51	(22.5 %)	0.29
Q3 2016	851.65	50.3 %	48.12	(14.6 %)	18.05	(44.1 %)	0.18
Q4 2016	869.33	46.7 %	43.08	(33.7 %)	16.68	(49.4 %)	0.17
2016	3,461.35	50.3 %	207.39	(17.7 %)	91.02	(36.8 %)	0.91
Q1 2017	840.39	(0.4 %)	42.50	(26.2 %)	14.58	(47.5 %)	0.15
Q2 2017	856.87	(4.4 %)	48.25	(17.6 %)	18.26	(35.9 %)	0.18
Q3 2017	826.87	(2.9 %)	46.50	(3.4 %)	18.22	0.9 %	0.18
Q4 2017	885.47	1.9 %	45.58	5.8 %	13.59	(18.6 %)	0.14
2017	3,409.60	(1.5 %)	182.84	(11.8 %)	64.65	(29.0 %)	0.65
Q1 2018	1,285.18	52.9 %	69.15	62.7 %	22.09	51.5 %	0.22
Q2 2018	1,290.31	50.6 %	62.88	30.3 %	15.12	(17.2 %)	0.15
Q3 2018	1,288.49	55.8 %	60.65	30.4 %	16.01	(12.1 %)	0.16
Q4 2018	1,312.61	48.2 %	60.30	32.3 %	13.38	(1.5 %)	0.13
2018	5,176.59	51.8 %	252.97	38.4 %	66.61	3.0 %	0.67
Q1 2019	1,299.80	1.1 %	67.64	(2.2 %)	29.89	35.3 %	0.30
Q2 2019	1,326.46	2.8 %	63.87	1.6 %	17.27	14.2 %	0.17
Q3 2019	1,472.74	14.3 %	66.04	8.9 %	16.55	3.4 %	0.17
Q4 2019	1,582.14	20.5 %	264.05	337.9 %	228.03	1603.9 %	2.28
2019	5,681.13	9.7 %	461.60	82.5 %	291.74	338.0 %	2.92
Q1 2020	1,457.81	12.2 %	84.72	25.3 %	30.29	1.3 %	0.30
Q2 2020	719.28	(45.8 %)	46.03	(27.9 %)	14.38	(16.7 %)	0.14
Q3 2020	1,300.26	(11.7 %)	88.49	34.0 %	36.90	122.9 %	0.37
Q4 2020	1,496.73	(5.4 %)	106.49	(59.7 %)	39.52	(82.7 %)	0.40
2020	4,974.08	(12.4 %)	325.74	(29.4 %)	121.08	(58.5 %)	1.21
Q1 2021	1,759.66	20.7 %	101.01	19.2 %	39.36	30.0 %	0.39
Q2 2021	2,173.19	202.1 %	103.85	125.6 %	35.95	150.0 %	0.36
Q3 2021	2,556.38	96.6 %	117.88	33.2 %	47.41	28.5 %	0.47
Q4 2021	2,620.38	75.1 %	128.70	20.8 %	54.09	36.9 %	0.54
2021	9,109.62	83.1 %	451.44	38.6 %	176.81	46.0 %	1.77
Q1 2022	2,780.13	58.0 %	136.18	34.8 %	62.42	58.6 %	0.62

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2012	1,873.57	10.6 %	171.50	4.4 %	95.55	3.7 %	0.96
2013	1,982.68	5.8 %	187.65	9.4 %	101.69	6.4 %	1.02
2014	2,144.32	8.2 %	227.11	21.0 %	123.73	21.7 %	1.24
2015	2,302.99	7.4 %	251.84	10.9 %	144.04	16.4 %	1.44
2016	3,461.35	50.3 %	207.39	(17.7 %)	91.02	(36.8 %)	0.91
2017	3,409.60	(1.5 %)	182.84	(11.8 %)	64.65	(29.0 %)	0.65
2018	5,176.59	51.8 %	252.97	38.4 %	66.61	3.0 %	0.67
2019	5,681.13	9.7 %	461.60	82.5 %	291.74	338.0 %	2.92
2020	4,974.08	(12.4 %)	325.74	(29.4 %)	121.08	(58.5 %)	1.21
2021	9,109.62	83.1 %	451.44	38.6 %	176.81	46.0 %	1.77

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2013	9.17 %	8.68 %	5.04 %
Q2 2013	9.16 %	8.56 %	5.01 %
Q3 2013	9.31 %	8.55 %	5.04 %
Q4 2013	9.46 %	8.67 %	5.13 %
2013	9.46 %	8.67 %	5.13 %
Q1 2014	9.87 %	8.94 %	5.40 %
Q2 2014	10.35 %	9.29 %	5.66 %
Q3 2014	10.54 %	9.41 %	5.65 %
Q4 2014	10.59 %	9.49 %	5.77 %
2014	10.59 %	9.49 %	5.77 %
Q1 2015	10.83 %	9.61 %	5.89 %
Q2 2015	10.79 %	9.55 %	5.87 %
Q3 2015	10.69 %	9.20 %	5.87 %
Q4 2015	10.94 %	9.35 %	5.78 %
2015	10.94 %	9.35 %	5.78 %
Q1 2016	9.44 %	8.08 %	4.85 %
Q2 2016	8.19 %	6.97 %	4.03 %
Q3 2016	7.20 %	6.30 %	3.34 %
Q4 2016	5.99 %	5.16 %	2.63 %
2016	5.99 %	5.16 %	2.63 %
Q1 2017	5.56 %	4.83 %	2.25 %
Q2 2017	5.32 %	4.67 %	1.98 %
Q3 2017	5.31 %	4.78 %	2.00 %
Q4 2017	5.36 %	4.88 %	1.90 %
2017	5.36 %	4.88 %	1.90 %
Q1 2018	5.43 %	6.37 %	1.87 %
Q2 2018	5.23 %	7.29 %	1.61 %
Q3 2018	5.02 %	7.98 %	1.41 %
Q4 2018	4.89 %	8.71 %	1.29 %
2018	4.89 %	8.71 %	1.29 %
Q1 2019	4.84 %	8.50 %	1.18 %
Q2 2019	4.83 %	8.37 %	1.22 %
Q3 2019	4.76 %	8.04 %	1.19 %
Q4 2019	8.13 %	10.90 %	4.02 %
2019	8.13 %	10.90 %	4.02 %
Q1 2020	8.20 %	10.97 %	4.13 %
Q2 2020	8.81 %	11.27 %	4.23 %
Q3 2020	9.55 %	12.42 %	4.77 %
Q4 2020	6.55 %	9.83 %	2.08 %
2020	6.55 %	9.83 %	2.08 %
Q1 2021	6.48 %	9.82 %	2.14 %
Q2 2021	5.94 %	9.24 %	2.25 %
Q3 2021	5.37 %	8.05 %	2.03 %
Q4 2021	4.96 %	7.29 %	1.94 %
2021	4.96 %	7.29 %	1.94 %
Q1 2022	4.80 %	6.74 %	1.97 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2012	9.15 %	8.75 %	5.10 %
2013	9.46 %	8.67 %	5.13 %
2014	10.59 %	9.49 %	5.77 %
2015	10.94 %	9.35 %	5.78 %
2016	5.99 %	5.16 %	2.63 %
2017	5.36 %	4.88 %	1.90 %
2018	4.89 %	8.71 %	1.29 %
2019	8.13 %	10.90 %	4.02 %
2020	6.55 %	9.83 %	2.08 %
2021	4.96 %	7.29 %	1.94 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2013	9.15 %	8.39 %	4.81 %
Q2 2013	9.50 %	8.74 %	5.44 %
Q3 2013	9.50 %	8.53 %	5.01 %
Q4 2013	9.70 %	9.00 %	5.25 %
Q1 2014	10.73 %	9.45 %	5.88 %
Q2 2014	11.35 %	10.09 %	6.42 %
Q3 2014	10.31 %	9.05 %	4.99 %
Q4 2014	9.97 %	9.35 %	5.76 %
Q1 2015	11.64 %	9.93 %	6.33 %
Q2 2015	11.18 %	9.82 %	6.34 %
Q3 2015	9.94 %	7.69 %	5.02 %
Q4 2015	10.97 %	9.93 %	5.43 %
Q1 2016	6.83 %	5.85 %	3.29 %
Q2 2016	6.53 %	5.62 %	3.18 %
Q3 2016	5.65 %	4.94 %	2.12 %
Q4 2016	4.96 %	4.25 %	1.92 %
Q1 2017	5.06 %	4.45 %	1.74 %
Q2 2017	5.63 %	5.04 %	2.13 %
Q3 2017	5.62 %	5.41 %	2.20 %
Q4 2017	5.15 %	4.63 %	1.53 %
Q1 2018	5.38 %	9.07 %	1.72 %
Q2 2018	4.87 %	8.56 %	1.17 %
Q3 2018	4.71 %	8.62 %	1.24 %
Q4 2018	4.59 %	8.61 %	1.02 %
Q1 2019	5.20 %	8.24 %	1.31 %
Q2 2019	4.81 %	8.04 %	1.30 %
Q3 2019	4.48 %	7.36 %	1.12 %
Q4 2019	16.69 %	18.78 %	11.21 %
Q1 2020	5.81 %	8.82 %	2.08 %
Q2 2020	6.40 %	7.71 %	(0.42 %)
Q3 2020	6.81 %	11.33 %	2.84 %
Q4 2020	7.12 %	10.54 %	2.64 %
Q1 2021	5.74 %	8.94 %	2.24 %
Q2 2021	4.78 %	7.32 %	1.65 %
Q3 2021	4.61 %	6.59 %	1.85 %
Q4 2021	4.91 %	6.85 %	2.06 %
Q1 2022	4.90 %	6.33 %	2.25 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2013	100.00	0.96	0.96	4.40
Q2 2013	100.00	0.97	0.97	4.67
Q3 2013	100.00	0.99	0.99	4.92
Q4 2013	100.00	1.02	1.02	5.18
Q1 2014	100.00	1.09	1.09	4.87
Q2 2014	100.00	1.17	1.17	5.23
Q3 2014	100.00	1.19	1.19	5.49
Q4 2014	100.00	1.24	1.24	5.80
Q1 2015	100.00	1.35	1.29	5.41
Q2 2015	100.00	1.37	1.30	5.78
Q3 2015	100.00	1.42	1.32	6.10
Q4 2015	100.00	1.44	1.33	6.43
Q1 2016	100.00	1.30	1.25	5.72
Q2 2016	100.00	1.22	1.17	6.19
Q3 2016	100.00	1.07	1.07	6.37
Q4 2016	100.00	0.91	0.91	6.34
Q1 2017	100.00	0.78	0.78	6.07
Q2 2017	100.00	0.68	0.68	6.25
Q3 2017	100.00	0.68	0.68	6.43
Q4 2017	100.00	0.65	0.65	6.56
Q1 2018	100.00	0.72	0.72	6.29
Q2 2018	100.00	0.69	0.69	6.47
Q3 2018	100.00	0.67	0.67	6.66
Q4 2018	100.00	0.67	0.67	6.43
Q1 2019	100.00	0.74	0.61	6.36
Q2 2019	100.00	0.77	0.64	6.54
Q3 2019	100.00	0.77	0.64	6.70
Q4 2019	100.00	2.92	2.28	8.75
Q1 2020	100.00	2.92	2.41	9.05
Q2 2020	100.00	2.89	2.21	8.26
Q3 2020	100.00	3.10	2.41	8.63
Q4 2020	100.00	1.21	1.04	8.92
Q1 2021	100.00	1.30	1.13	9.32
Q2 2021	100.00	1.52	1.52	9.08
Q3 2021	100.00	1.62	1.62	9.55
Q4 2021	100.00	1.77	1.77	9.95
Q1 2022	100.00	2.00	2.00	9.45

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2012	100.00	0.96	0.96	4.78
2013	100.00	1.02	1.02	5.18
2014	100.00	1.24	1.24	5.80
2015	100.00	1.44	1.33	6.43
2016	100.00	0.91	0.91	6.34
2017	100.00	0.65	0.65	6.56
2018	100.00	0.67	0.67	6.43
2019	100.00	2.92	2.28	8.75
2020	100.00	1.21	1.04	8.92
2021	100.00	1.77	1.77	9.95

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2013	10.59	10.59	2.32
Q2 2013	11.44	11.44	2.38
Q3 2013	13.79	13.79	2.78
Q4 2013	13.28	13.28	2.61
Q1 2014	14.58	14.58	3.25
Q2 2014	17.10	17.10	3.82
Q3 2014	19.86	19.86	4.30
Q4 2014	16.57	16.57	3.53
Q1 2015	17.76	18.63	4.44
Q2 2015	19.92	20.88	4.71
Q3 2015	14.89	16.03	3.47
Q4 2015	11.99	12.98	2.69
Q1 2016	11.30	11.72	2.56
Q2 2016	11.25	11.69	2.21
Q3 2016	11.17	11.25	1.88
Q4 2016	17.11	17.11	2.46
Q1 2017	17.75	17.75	2.28
Q2 2017	17.87	17.87	1.93
Q3 2017	20.53	20.53	2.16
Q4 2017	21.34	21.34	2.10
Q1 2018	18.56	18.56	2.13
Q2 2018	20.29	20.29	2.16
Q3 2018	21.27	21.27	2.13
Q4 2018	27.78	27.78	2.88
Q1 2019	22.23	26.90	2.60
Q2 2019	26.93	32.40	3.15
Q3 2019	37.22	44.71	4.28
Q4 2019	12.86	16.45	4.29
Q1 2020	11.51	13.92	3.71
Q2 2020	13.05	17.07	4.57
Q3 2020	12.83	16.46	4.60
Q4 2020	32.17	37.57	4.36
Q1 2021	32.84	37.90	4.59
Q2 2021	33.77	33.77	5.65
Q3 2021	33.71	33.71	5.73
Q4 2021	28.35	28.35	5.04
Q1 2022	29.17	29.17	6.17

Period	P/E	Adjusted P/E	Price/book
2012	10.87	10.87	2.17
2013	13.28	13.28	2.61
2014	16.57	16.57	3.53
2015	11.99	12.98	2.69
2016	17.11	17.11	2.46
2017	21.34	21.34	2.10
2018	27.78	27.78	2.88
2019	12.86	16.45	4.29
2020	32.17	37.57	4.36
2021	28.35	28.35	5.04

Business Segments (Million)

Compared With The

Period	Oil services sector	Transport Service	elimination	Super Sector 2
Q1 2013	446.50	57.18	(13.62)	-
Q2 2013	457.78	59.76	(14.28)	-
Q3 2013	439.61	60.55	(13.98)	-
Q4 2013	458.09	58.93	(13.84)	-
Q1 2014	461.66	70.51	(13.58)	-
Q2 2014	490.43	75.51	(15.25)	-
Q3 2014	477.58	70.09	(15.71)	-
Q4 2014	488.27	72.08	(17.25)	-
Q1 2015	501.71	78.56	(16.32)	-
Q2 2015	521.51	75.81	(17.31)	-
Q3 2015	516.71	66.69	(16.86)	-
Q4 2015	538.90	70.07	(16.47)	-
Q1 2016	794.80	69.50	(20.57)	-
Q2 2016	850.61	68.12	(22.09)	-
Q3 2016	815.13	56.04	(19.52)	-
Q4 2016	831.65	56.88	(19.20)	-
Q1 2017	807.00	51.91	(18.51)	-
Q2 2017	818.12	58.52	(19.78)	-
Q3 2017	782.34	63.22	(18.68)	-
Q4 2017	843.19	62.51	(20.23)	-
Q1 2018	1,236.02	69.53	(20.38)	-
Q2 2018	1,240.39	70.66	(20.74)	-
Q3 2018	1,235.89	71.60	(19.00)	-
Q4 2018	1,247.46	85.15	(20.00)	-
Q1 2019	1,226.32	92.00	(18.52)	-
Q2 2019	1,258.96	87.18	(19.69)	-
Q3 2019	1,407.07	85.88	(20.20)	-
Q4 2019	1,510.62	93.71	(22.19)	-
Q1 2020	1,406.89	73.61	(22.69)	-
Q2 2020	666.76	69.79	(17.27)	-
Q3 2020	1,246.27	77.86	(23.87)	-
Q4 2020	1,447.61	73.29	(24.18)	-
Q1 2021	1,712.60	71.05	(24.00)	-
Q2 2021	2,122.64	75.30	(24.75)	-
Q3 2021	2,489.92	94.16	(27.71)	-
Q4 2021	2,540.16	110.33	(30.11)	-
Q1 2022	2,711.54	100.22	(31.63)	-

Period	Oil services sector	Transport Service	elimination	Super Sector 2
2012	1,717.77	205.51	(49.71)	-
2013	1,801.98	236.42	(55.72)	-
2014	1,917.93	288.18	(61.79)	-
2015	2,078.82	291.13	(66.96)	-
2016	3,292.18	250.55	(81.38)	-
2017	3,250.64	236.15	(77.20)	-
2018	4,959.76	296.94	(80.12)	-
2019	5,402.97	358.76	(80.60)	-
2020	4,767.54	294.55	(88.00)	-
2021	8,865.33	350.84	(106.56)	-

Analysts Estimates (Million)

Item	Q1 2022 (e)	Q1 2022 (a)	Change‬
Average	59.50	62.42	4.91 %

Estimates vs Actual (Million)

Item	Q1 2022 (e)	Q1 2022 (a)	Change
Al Rajhi Capital	62.00	62.42	0.7 %
Hermes	57.00	62.42	9.5 %

Financial Ratios

	Current
Market Cap (M Riyal)	11,300.00
Enterprise Value (EV) (M)	11,594.81
Shares Outstanding ((M))	100.00
EPS ( Riyal) (TTM)	2.88
Book Value (BV) ( Riyal)	12.99
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	39.27
P/E (TTM)	39.27
Price/book	8.70
Return on Average Assets (%) (TTM)	3.9
Return on Average Equity (%) (TTM)	23.2

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Aldrees net profit soars 58% to SAR 62.4 mln in Q1 2022

View other reports

Share Price

Aldrees Petroleum and Transport Services Co. (ALDREES)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2022 Q1

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

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Aldrees net profit soars 58% to SAR 62.4 mln in Q1 2022

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Share Price

Aldrees Petroleum and Transport Services Co. (ALDREES)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q1 2022

Revenue by Business Segment (Latest) 2022 Q1

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

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Business Segments (Million)