Thob Al Aseel 2021 net profit down 28% to SAR 59.7 mln; Q4 earnings at SAR 7.7 mln

21/02/2022 Argaam Exclusive

Thob Al Aseel Co. posted a net profit after Zakat and tax of SAR 59.7 million in 2021, down 28%, from SAR 82.4 million a year earlier.



Financials (M)

Item 2020 2021 Change‬
Revenues 527.34 481.90 (8.6 %)
Gross Income 188.49 174.51 (7.4 %)
Operating Income 97.93 77.79 (20.6 %)
Net Income 82.39 59.73 (27.5 %)
Average Shares 400.00 400.00 -
EPS (Riyals) 0.21 0.15 (27.5 %)

The company attributed the profit decrease to lower sales due to signing a contract to supply medical supplies in 2020. It contributed SAR 133 million to the sales of the previous year. Excluding sales of medical supplies, the company achieved a sales growth rate of 12.2% in 2021.

 

Selling and marketing expenses increased in 2021 due to higher spending on promotional activities.

 

Government initiatives that mitigated the effects of COVID-19 were reflected positively on net profit during the previous year.



Current Quarter Comparison (M)

Compared With The
Item Q4 2020 Q4 2021 Change‬
Revenues 105.96 91.68 (13.5 %)
Gross Income 39.08 35.29 (9.7 %)
Operating Income 9.61 10.01 4.1 %
Net Income 6.63 7.69 16.0 %
Average Shares 400.00 400.00 -
EPS (Riyals) 0.02 0.02 16.0 %

In Q4 2021, the company reported a net profit after Zakat and tax of SAR 7.7 million, rising 16% year-on-year (YoY).

 

On a sequential basis, Q4 2021 net profit more than doubled from SAR 3.6 million.

 

Total shareholders’ equity, excluding minority interest, increased to SAR 579.2 million in 2021 from SAR 542.8 million a year ago.

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Share Price

Thob Al Aseel Co.
4.33
0.03 0.70 %

Thob Al Aseel Co. (ALASEEL)

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Financial Ratios
Current
Market Cap (M Riyal) 1,732.00
Enterprise Value (EV) (M) 1,640.67
Shares Outstanding ((M)) 400.00
EPS ( Riyal) (TTM) 0.21
Book Value (BV) ( Riyal) 1.45
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 20.67
P/E (TTM) 20.67
Price/book 2.98
Return on Average Assets (%) (TTM) 12.2
Return on Average Equity (%) (TTM) 14.5
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