Tadweeer’s H1 2024 net profit grows 9% to SAR 11M

29/08/2024 Argaam Exclusive

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National Environmental Recycling Co. (Tadweeer) reported a net profit rise of 9% to SAR 11 million in the first half of 2024, compared to SAR 10.2 million in the year-earlier period.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 257.99 396.89 53.8 %
Gross Income 17.14 20.07 17.1 %
Operating Income 13.11 13.98 6.7 %
Net Income 10.15 11.03 8.6 %
Average Shares 116.16 116.16 -
Earnings Per Share before unusual items (Riyals) 0.08 0.09 17.2 %
EPS (Riyals) 0.09 0.09 8.6 %

The six-month net earnings were bolstered by higher sales, mainly due to the launch of several recycling lines, in addition to increased exports to Asia. 

 

Total shareholders’ equity, no minority interest, stood at SAR 210.95 million by the end of H1 2024, compared to SAR 186.14 million in the year-earlier period.

 

Historical Data

Period

Revenues

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2021

67.15

9.77

0.17

H2 2021

86.45

1.49

0.02

H1 2022

191.69

8.47

0.15

H2 2022

210.76

9.64

0.17

H1 2023

257.99

10.15

0.18

H2 2023

373.92

13.67

0.24

H1 2024

396.89

11.02

0.2

 

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Share Price

National Environmental Recycling Co.
7.19
(0.13) (1.78 %)

National Environmental Recycling Co. (TADWEEER)

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Financial Ratios
Current
Market Cap (M Riyal) 835.19
Enterprise Value (EV) (M) 984.07
Shares Outstanding ((M)) 116.16
Book Value (BV) ( Riyal) 2.05
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 23.09
Price/book 3.51
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