Sadr swings to SAR 2.8 mln loss in H1 2022; Q2 at SAR 1 mln

18/08/2022 Argaam Exclusive

Sadr Logistics Co. turned to a net loss after Zakat and tax of SAR 2.8 million in H1 2022, from a profit of SAR 846,000 in the prior-year period.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 30.96 36.25 17.1 %
Gross Income 8.44 6.53 (22.6 %)
Operating Income 1.48 (2.10) (242.1 %)
Net Income 0.85 (2.82) (433.8 %)
Average Shares 153.96 175.00 13.7 %
EPS (Riyals) 0.01 (0.02) (393.7 %)

The loss was attributed to higher cost of sales driven by the increase in raw materials prices, in addition to higher selling and marketing expenses, general and administrative expenses and Zakat provision.

 

The company reported a net loss after Zakat and tax of SAR 1 million for Q2 2022, from a net profit of SAR 250,000 in the same quarter last year.



Current Quarter Comparison (M)

Compared With The
Item Q2 2021 Q2 2022 Change‬
Revenues 16.08 16.48 2.5 %
Gross Income 4.02 3.22 (19.8 %)
Operating Income 0.71 (0.75) (205.7 %)
Net Income 0.25 (1.00) (506.3 %)
Average Shares 153.96 175.00 13.7 %
EPS (Riyals) 0.00 (0.01) (457.5 %)

On a sequential basis, the company narrowed its losses from SAR 1.8 million in Q1 2022 on lower cost of sales, selling and marketing expenses and financing costs as well as higher investment and other income.

 

Shareholders’ equity, after minority interest, stood at SAR 180.046 million as of June 30, 2022, compared to SAR 33.944 million a year earlier.

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Share Price

Sadr Logistics Co.
3.39
(0.07) (2.02 %)

Sadr Logistics Co. (SADR)

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Financial Ratios
Current
Market Cap (M Riyal) 593.25
Enterprise Value (EV) (M) 574.21
Shares Outstanding ((M)) 175.00
EPS ( Riyal) (TTM) (0.06)
Book Value (BV) ( Riyal) 0.95
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 3.56
Return on Average Assets (%) (TTM) (4.33 )
Return on Average Equity (%) (TTM) (6.08 )
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