Al Kathiri turns to losses of SAR 4.5M in 2023; Q4 at SAR 7.8M

31/03/2024 Argaam Exclusive

Al Kathiri Holding Co. reported a net loss of SAR 4.5 million in 2023 against a net profit of SAR 1.7 million a year earlier.



Financials (M)

Item 2022 2023 Change‬
Revenues 129.37 129.18 (0.1 %)
Gross Income 15.07 22.75 51.0 %
Operating Income 3.23 3.32 3.0 %
Net Income 1.71 (4.14) (342.1 %)
Average Shares 226.04 226.04 -
EPS (Halala) 0.76 (1.83) (342.1 %)

The company attributed the losses to lower cement sales, higher financing costs (FCs), and reporting non-recurring expenses from listing the first issue of Al Kathiri Sukuk.



Current Quarter Comparison (M)

Compared With The
Item Q4 2022 Q4 2023 Change‬
Revenues 50.81 34.40 (32.3 %)
Gross Income 10.61 1.38 (87.0 %)
Operating Income 5.45 (4.86) (189.1 %)
Net Income 5.65 (7.37) (230.5 %)
Average Shares 226.04 226.04 -
EPS (Halala) 2.50 (3.26) (230.5 %)

In Q4 2023, Al Kathiri incurred net losses of SAR 7.75 million, compared to net profits of SAR 5.65 million in Q4 2022 and SAR 1.03 million in Q3 2023.

 

Total shareholders’ equity, after excluding minority interest, stood at SAR 131.03 million by Dec. 31, 2023, compared to SAR 135.21 million in the prior-year period.

 

On Oct. 28, 2023, Al Kathiri’s board of directors approved setting up a 100% owned one-person limited liability subsidiary with a capital of SAR 10 million.

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Share Price

Al Kathiri Holding Co.
2.53
(0.03) (1.17 %)

Al Kathiri Holding Co. (ALKATHIRI)

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Financial Ratios
Current
Market Cap (M Riyal) 571.88
Enterprise Value (EV) (M) 654.28
Shares Outstanding ((M)) 226.04
EPS (Halala) (TTM) (2.37)
Book Value (BV) ( Riyal) 0.59
Par Value ( Halala) 50.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 4.30
Return on Average Assets (%) (TTM) (1.79 )
Return on Average Equity (%) (TTM) (3.94 )
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