Al-Omran trims losses to SAR 880,800 in H1 2024, SAR 1M in Q2

08/08/2024 Argaam Exclusive

Al-Omran Industrial Trading Co. narrowed the first-half net losses to SAR 880,800, from SAR 4.2 million in the first half of 2023.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 70.39 81.52 15.8 %
Gross Income 9.74 13.33 36.9 %
Operating Income (1.33) 0.43 132.0 %
Net Income (4.24) (0.88) 79.2 %
Average Shares 10.21 12.00 17.6 %
EPS (Riyals) (0.42) (0.07) 82.3 %

The H1 2024 net losses decreased as revenue jumped 16% year-on-year (YoY).

 

The cost of sales to revenue declined to 2% amid a YoY drop of 28% in finance costs. Al-Omran recorded financing income of SAR 790,000. It also lowered its inventory and debts by 25% and 65%, respectively in the same period.



Current Quarter Comparison (M)

Compared With The
Item Q2 2023 Q2 2024 Change‬
Revenues 28.96 33.61 16.0 %
Gross Income 3.52 6.04 71.6 %
Operating Income (2.08) (0.54) 73.8 %
Net Income (3.61) (1.01) 72.1 %
Average Shares 10.21 12.00 17.6 %
EPS (Riyals) (0.35) (0.08) 76.2 %

In Q2 2024, net losses fell by 72.1% to SAR 1 million, from SAR 3.61 million in the year-earlier period. Revenue climbed 16% YoY due to adding new customers and opening new markets.

 

Al-Omran earned SAR 130,000 in Q1 2024. It recorded negative results quarter-on-quarter as revenue dipped 30% on a sequential basis due to a market recession.

 

Shareholders’ equity, after minority interest, increased to SAR 158.59 million as of June 30, 2024, compared to SAR 111.22 million a year earlier.

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Share Price

Al-Omran Industrial Trading Co.
38.50
(0.25) (0.65 %)

Al-Omran Industrial Trading Co. (ALOMRAN)

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Financial Ratios
Current
Market Cap (M Riyal) 462.00
Enterprise Value (EV) (M) 450.80
Shares Outstanding ((M)) 12.00
EPS ( Riyal) (TTM) (0.74)
Book Value (BV) ( Riyal) 13.02
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 2.96
Return on Average Assets (%) (TTM) (4.26 )
Return on Average Equity (%) (TTM) (6.68 )
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