Al Mawarid Manpower reported a net profit of SAR 76 million in 2022, up 37% from SAR 55.7 million a year earlier.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 663.72 | 944.73 | 42.3 % |
| Gross Income | 96.86 | 129.69 | 33.9 % |
| Operating Income | 58.05 | 83.48 | 43.8 % |
| Net Income | 55.66 | 75.99 | 36.5 % |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | 3.71 | 5.07 | 36.5 % |
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 172.31 | 275.15 | 59.7 % |
| Gross Income | 22.97 | 41.18 | 79.3 % |
| Operating Income | 12.27 | 28.62 | 133.2 % |
| Net Income | 13.43 | 25.31 | 88.4 % |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | 0.90 | 1.69 | 88.4 % |
The earnings jump was driven by a year-on-year (YoY) rise in revenue to SAR 945 million in 2022, from SAR 664 million a year earlier, on higher revenue from individual and corporate segments.
The company also cited 62% lower provisions from impairment in accounts receivable and other current assets.
This was offset by a decline in gross profit margins from 15% to 14% on higher cost of revenue. This is in addition to a 43% YoY increase in administrative and marketing expenses and higher Zakat and tax provisions.
Total shareholders’ equity, no minority interest, stood at SAR 293.06 million by the end of 2022, compared to SAR 233.02 million a year earlier.
| Period | Revenues | Change | Gross Income | Change | Net Income | Change | EPS(Riyal) |
|---|---|---|---|---|---|---|---|
| Q1 2022 | 188.43 | 17.7 % | 24.01 | (4.3 %) | 12.94 | (11.3 %) | 0.86 |
| Q2 2022 | 233.41 | 41.6 % | 31.91 | 34.7 % | 18.81 | 38.6 % | 1.25 |
| Q3 2022 | 247.74 | 48.8 % | 32.59 | 29.7 % | 18.93 | 34.5 % | 1.26 |
| Q4 2022 | 275.15 | 59.7 % | 41.18 | 79.3 % | 25.31 | 88.4 % | 1.69 |
| 2022 | 944.73 | 42.3 % | 129.69 | 33.9 % | 75.99 | 36.5 % | 5.07 |
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2022 | 13.84 % | 10.07 % | 7.36 % |
| Q2 2022 | 13.67 % | 10.02 % | 7.39 % |
| Q3 2022 | 13.24 % | 9.73 % | 7.25 % |
| Q4 2022 | 13.73 % | 10.46 % | 8.04 % |
| 2022 | 13.73 % | 10.46 % | 8.04 % |
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2022 | 15.00 | 3.60 | 3.40 | 16.45 |
| Q2 2022 | 15.00 | 3.95 | 3.74 | 16.47 |
| Q3 2022 | 15.00 | 4.27 | 4.07 | 17.80 |
| Q4 2022 | 15.00 | 5.07 | 5.07 | 19.54 |
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2022 | - | - | - |
| Q2 2022 | - | - | - |
| Q3 2022 | - | - | - |
| Q4 2022 | - | - | - |
Q4 2022
| Period | Corporate sector | Individuals sector | Hourly sector |
|---|---|---|---|
| Q1 2022 | 121.36 | 40.16 | 26.90 |
| Q2 2022 | 152.42 | 50.01 | 30.99 |
| Q3 2022 | 164.67 | 53.21 | 29.86 |
| Q4 2022 | 181.08 | 60.29 | 33.78 |
| Current | |
| Market Cap (M Riyal) | 1,896.00 |
| Enterprise Value (EV) (M) | 1,749.25 |
| Shares Outstanding ((M)) | 15.00 |
| EPS ( Riyal) (TTM) | 6.20 |
| Book Value (BV) ( Riyal) | 23.66 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 20.38 |
| P/E (TTM) | 20.38 |
| Price/book | 5.34 |
| Return on Average Assets (%) (TTM) | 15.7 |
| Return on Average Equity (%) (TTM) | 27.8 |
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