Shams swings to SAR 156,000 profit in H1 2022, Q2 profit at SAR 67,000

21/08/2022 Argaam Exclusive

Tourism Enterprise Co. (Shams) turned to a net profit after Zakat and tax to SAR 156,000 in the first half of 2022, from SAR 14 million loss in the year-ago period.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 7.98 4.73 (40.7 %)
Gross Income 2.01 0.27 (86.6 %)
Operating Income (13.22) 0.26 101.9 %
Net Income (14.14) 0.16 101.1 %
Average Shares 677.40 677.40 -
EPS (Halala) (2.09) 0.02 101.1 %

The profit is driven by lower general and administrative expenses, higher other income in the current period and the inclusion of judicial provisions during the same period last year.

 

The company turned to a profit of SAR 67,000 in Q2 2022, from a loss of SAR 13.2 million in the corresponding period of 2021.



Current Quarter Comparison (M)

Compared With The
Item Q2 2021 Q2 2022 Change‬
Revenues 4.77 2.48 (48.0 %)
Gross Income 1.51 0.04 (97.5 %)
Operating Income (12.42) 0.13 101.0 %
Net Income (13.19) 0.07 100.5 %
Average Shares 677.40 677.40 -
EPS (Halala) (1.95) 0.01 100.5 %

Sequentially, the company’s net profit fell 22% in Q2 2022 from SAR 90,000 in Q1 2022.

 

Total shareholders’ equity, after minority interest, stood at SAR 55.53 million by the end of the six-month period, from SAR 55.5 million in the prior-year period.

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Share Price

Tourism Enterprise Co.
0.95
0.00 0.00 %

Tourism Enterprise Co. (TECO)

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Financial Ratios
Current
Market Cap (M Riyal) 1,098.65
Enterprise Value (EV) (M) 576.16
Shares Outstanding ((M)) 1,156.47
EPS (Halala) (TTM) (3.63)
Book Value (BV) ( Riyal) 0.44
Par Value ( Halala) 50.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 2.14
Return on Average Assets (%) (TTM) (7.57 )
Return on Average Equity (%) (TTM) (7.84 )
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