Thimar turns to SAR 1.6 mln loss in H1 2023; Q2 at SAR 1.3 mln

13/08/2023 Argaam Exclusive

Thimar Development Holding Co. reported a net loss of SAR 1.6 million in H1 2023, versus a net profit of SAR 1.4 million a year earlier.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Operating Income (2.42) (2.67) (10.1 %)
Net Income 1.39 (1.71) (222.7 %)
Average Shares 3.87 3.87 -
EPS (Riyals) 0.36 (0.44) (222.7 %)

Higher general and administrative expenses, as well as a decline in other income weighed on the six-month results.

 

The company widened Q2 2023 net losses to SAR 1.3 million from SAR 710,000 in Q2 2022 on general and administrative expenses.

 

The second-quarter net losses increased by 65.9% from SAR 780,000 in Q1 2023 hurt by a rise in general and administrative expenses.



Current Quarter Comparison (M)

Compared With The
Item Q2 2022 Q2 2023 Change‬
Operating Income (1.16) (1.49) (28.4 %)
Net Income (1.16) (1.38) (19.1 %)
Average Shares 3.87 3.87 -
EPS (Riyals) (0.30) (0.36) (19.1 %)

Shareholders’ equity, after minority interest, amounted to -SAR 98.27million as of June 30, 2023, against -SAR 92.78million a year earlier. 

 

Accumulated losses stood at SAR 232.77 million by the end of H1 2023, accounting for 232.78% of the company’s capital.

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Share Price

Thimar Development Holding Co.
43.60
(0.40) (0.91 %)

Thimar Development Holding Co. (THIMAR)

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Financial Ratios
Current
Market Cap (M Riyal) 283.40
Enterprise Value (EV) (M) 261.51
Shares Outstanding ((M)) 6.50
EPS ( Riyal) (TTM) (2.36)
Book Value (BV) ( Riyal) 3.06
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 14.27
Return on Average Assets (%) (TTM) (22.20 )
Return on Average Equity (%) (TTM) -
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