Zahrat Al Waha net profit down 77% to SAR 10.3 mln in 9M 2022, Q3 profit drops to SAR 422,000

27/10/2022 Argaam Exclusive

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Zahrat Al Waha for Trading Co. reported a net profit of SAR 10.3 million in the first nine months of 2022, a 77% decline from SAR 44.1 million in the year-ago period.

 

The profit decline was attributed to higher cost of goods sold, selling and distribution expenses, general and administrative expenses and lower other revenue, financing cost and profits from investments at FVTPL.



Financials (M)

Item 9m 2021 9m 2022 Change‬
Revenues 408.22 507.60 24.3 %
Gross Income 58.42 36.45 (37.6 %)
Operating Income 43.75 22.14 (49.4 %)
Net Income 44.07 10.34 (76.5 %)
Average Shares 22.50 22.50 -
Earnings Per Share before unusual items (Riyals) 1.63 0.46 (71.8 %)
EPS (Riyals) 1.96 0.46 (76.5 %)

In Q3 2022, the net profit fell 94% to SAR 421,795, from SAR 7.47 million in the year before.

 

Sequentially, the company’s net profit retreated 89.5% from SAR 4 million in Q2 2022.



Current Quarter Comparison (M)

Compared With The
Item Q3 2021 Q3 2022 Change‬
Revenues 165.49 171.50 3.6 %
Gross Income 16.03 9.35 (41.7 %)
Operating Income 10.62 4.64 (56.4 %)
Net Income 7.47 0.42 (94.4 %)
Average Shares 22.50 22.50 -
Earnings Per Share before unusual items (Riyals) 0.33 0.02 (94.3 %)
EPS (Riyals) 0.33 0.02 (94.4 %)

Shareholders’ equity, no minority interest, rose to SAR 290.439 million as of Sept. 30, 2022, from SAR 281.388 billion in the year-earlier period.

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Share Price

Zahrat Al Waha for Trading Co.
28.40
0.80 2.90 %

Zahrat Al Waha for Trading Co. (OASIS)

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Financial Ratios
Current
Market Cap (M Riyal) 639.00
Enterprise Value (EV) (M) 834.29
Shares Outstanding ((M)) 22.50
EPS ( Riyal) (TTM) 0.54
Book Value (BV) ( Riyal) 13.24
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 48.49
P/E (TTM) 52.91
Price/book 2.15
Return on Average Assets (%) (TTM) 2.1
Return on Average Equity (%) (TTM) 3.9
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