SAIC H1 2023 profit jumps 24% to SAR 72.2 mln; Q2 at SAR 50.2 mln

19/07/2023 Argaam Exclusive

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Share Price

Saudi Advanced Industries Co. (SAIC)

Saudi Advanced Industries Co. (SAIC) reported a 24% leap in H1 2023 net profit to SAR 72.2 million from SAR 58.3 million in the prior-year period.

Financials (M)

Item	6m 2022	6m 2023	Change‬
Revenues	65.53	78.94	20.5 %
Gross Income	65.53	78.94	20.5 %
Operating Income	58.45	73.23	25.3 %
Net Income	58.26	72.23	24.0 %
Average Shares	60.00	60.00	-
EPS (Riyals)	0.97	1.20	24.0 %

The first-half results were lifted by better realized and unrealized gains from financial assets at fair value through profit or loss (FVPL). The company also recorded an increase in dividends earned along with a drop in finance costs.

On the other hand, SAIC reported a decrease in its profit share from associates and other income, higher Zakat estimates, as well as general and administrative expenses.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2022	Q2 2023	Change‬
Revenues	31.09	53.59	72.4 %
Gross Income	31.09	53.59	72.4 %
Operating Income	27.45	50.66	84.6 %
Net Income	27.32	50.16	83.6 %
Average Shares	60.00	60.00	-
EPS (Riyals)	0.46	0.84	83.6 %

Item	Q1 2023	Q2 2023	Change‬
Revenues	25.35	53.59	111.4 %
Gross Income	25.35	53.59	111.4 %
Operating Income	22.57	50.66	124.5 %
Net Income	22.07	50.16	127.3 %
Average Shares	60.00	60.00	-
EPS (Riyals)	0.37	0.84	127.3 %

The three-month net profit soared 83.6% to SAR 50.16 million from SAR 27.32 million in Q2 2022, driven by higher realized and unrealized gains from financial assets at FVPL, along with improved dividends earned.

The three-month net profit soared 85% to SAR 50.5 million from SAR 27.3 million in Q2 2022.

SAIC’s bottomline also more than doubled from SAR 22 million in Q1 2023.

Shareholders’ equity, no minority interest, rose to SAR 950.57 million as of June 30, 2023, from SAR 899.66 million a year earlier.

View More Financial Results

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2014	8.03	66.2 %	8.03	66.2 %	6.01	85.7 %	0.10
Q2 2014	4.64	(52.9 %)	4.64	(52.9 %)	(6.91)	(179.3 %)	(0.12)
Q3 2014	8.48	(10.7 %)	8.48	(10.7 %)	13.81	62.1 %	0.23
Q4 2014	6.16	(7.2 %)	6.16	(7.2 %)	2.32	(49.4 %)	0.04
2014	27.31	(11.3 %)	27.31	(11.3 %)	15.23	(39.2 %)	0.25
Q1 2015	9.04	12.5 %	9.04	12.5 %	7.51	24.9 %	0.13
Q2 2015	8.15	75.7 %	8.15	75.7 %	7.26	205.0 %	0.12
Q3 2015	2.38	(71.9 %)	2.38	(71.9 %)	1.61	(88.3 %)	0.03
Q4 2015	(0.45)	(107.3 %)	(0.45)	(107.3 %)	(15.20)	(756.2 %)	(0.25)
2015	19.12	(30.0 %)	19.12	(30.0 %)	1.18	(92.2 %)	0.02
Q1 2016	(1.93)	(121.4 %)	(1.93)	(121.4 %)	(3.75)	(149.9 %)	(0.06)
Q2 2016	11.74	44.1 %	11.74	44.1 %	9.96	37.2 %	0.17
Q3 2016	4.29	80.1 %	4.29	80.1 %	2.52	55.9 %	0.04
Q4 2016	4.58	1123.9 %	4.58	1123.9 %	2.15	114.1 %	0.04
2016	18.67	(2.3 %)	18.67	(2.3 %)	12.12	923.3 %	0.20
Q1 2017	4.42	328.7 %	4.42	328.7 %	3.40	190.6 %	0.06
Q2 2017	8.35	(28.9 %)	8.35	(28.9 %)	7.56	(24.1 %)	0.13
Q3 2017	11.65	171.8 %	11.65	171.8 %	9.82	290.5 %	0.16
Q4 2017	10.20	122.8 %	10.20	122.8 %	9.81	356.4 %	0.16
2017	34.62	85.4 %	34.62	85.4 %	30.58	152.4 %	0.51
Q1 2018	5.48	24.0 %	5.48	24.0 %	4.16	22.5 %	0.07
Q2 2018	15.71	88.3 %	15.71	88.3 %	14.10	86.5 %	0.23
Q3 2018	12.89	10.6 %	12.89	10.6 %	11.54	17.5 %	0.19
Q4 2018	10.45	2.5 %	10.45	2.5 %	7.13	(27.3 %)	0.12
2018	44.54	28.7 %	44.54	28.7 %	36.93	20.7 %	0.62
Q1 2019	6.04	10.2 %	6.04	10.2 %	4.13	(0.8 %)	0.07
Q2 2019	20.08	27.8 %	20.08	27.8 %	16.37	16.1 %	0.27
Q3 2019	13.59	5.4 %	13.59	5.4 %	11.50	(0.4 %)	0.19
Q4 2019	4.68	(55.2 %)	4.68	(55.2 %)	(3.45)	(148.4 %)	(0.06)
2019	44.39	(0.3 %)	44.39	(0.3 %)	28.55	(22.7 %)	0.48
Q1 2020	10.72	77.5 %	10.72	77.5 %	8.35	102.3 %	0.14
Q2 2020	6.71	(66.6 %)	6.71	(66.6 %)	4.70	(71.3 %)	0.08
Q3 2020	9.59	(29.4 %)	9.59	(29.4 %)	7.50	(34.8 %)	0.13
Q4 2020	9.75	108.3 %	9.75	108.3 %	5.53	260.2 %	0.09
2020	36.78	(17.1 %)	36.78	(17.1 %)	26.07	(8.7 %)	0.43
Q1 2021	19.69	83.6 %	19.69	83.6 %	17.05	104.2 %	0.28
Q2 2021	19.34	188.1 %	19.34	188.1 %	16.79	257.6 %	0.28
Q3 2021	35.88	273.9 %	35.88	273.9 %	31.67	322.3 %	0.53
Q4 2021	26.57	172.6 %	26.57	172.6 %	25.62	363.7 %	0.43
2021	101.48	175.9 %	101.48	175.9 %	91.13	249.6 %	1.52
Q1 2022	34.44	75.0 %	34.44	75.0 %	30.94	81.5 %	0.52
Q2 2022	31.09	60.7 %	31.09	60.7 %	27.32	62.7 %	0.46
Q3 2022	25.97	(27.6 %)	25.97	(27.6 %)	22.10	(30.2 %)	0.37
Q4 2022	24.55	(7.6 %)	24.55	(7.6 %)	19.85	(22.5 %)	0.33
2022	116.05	14.4 %	116.05	14.4 %	100.21	10.0 %	1.67
Q1 2023	25.35	(26.4 %)	25.35	(26.4 %)	22.07	(28.7 %)	0.37
Q2 2023	53.59	72.4 %	53.59	72.4 %	50.16	83.6 %	0.84

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2013	30.80	180.3 %	30.80	180.3 %	25.06	140.3 %	0.42
2014	27.31	(11.3 %)	27.31	(11.3 %)	15.23	(39.2 %)	0.25
2015	19.12	(30.0 %)	19.12	(30.0 %)	1.18	(92.2 %)	0.02
2016	18.67	(2.3 %)	18.67	(2.3 %)	12.12	923.3 %	0.20
2017	34.62	85.4 %	34.62	85.4 %	30.58	152.4 %	0.51
2018	44.54	28.7 %	44.54	28.7 %	36.93	20.7 %	0.62
2019	44.39	(0.3 %)	44.39	(0.3 %)	28.55	(22.7 %)	0.48
2020	36.78	(17.1 %)	36.78	(17.1 %)	26.07	(8.7 %)	0.43
2021	101.48	175.9 %	101.48	175.9 %	91.13	249.6 %	1.52
2022	116.05	14.4 %	116.05	14.4 %	100.21	10.0 %	1.67

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	100.00 %	86.84 %	84.08 %
Q2 2014	100.00 %	83.32 %	79.63 %
Q3 2014	100.00 %	82.14 %	104.30 %
Q4 2014	100.00 %	78.73 %	100.61 %
2014	100.00 %	78.73 %	100.61 %
Q1 2015	100.00 %	78.51 %	99.65 %
Q2 2015	100.00 %	80.26 %	101.84 %
Q3 2015	100.00 %	74.64 %	75.64 %
Q4 2015	100.00 %	68.14 %	63.72 %
2015	100.00 %	68.14 %	63.72 %
Q1 2016	100.00 %	26.22 %	11.28 %
Q2 2016	100.00 %	49.67 %	30.82 %
Q3 2016	100.00 %	56.63 %	33.12 %
Q4 2016	100.00 %	68.37 %	58.23 %
2016	100.00 %	68.37 %	64.89 %
Q1 2017	100.00 %	76.76 %	72.00 %
Q2 2017	100.00 %	73.06 %	72.22 %
Q3 2017	100.00 %	79.67 %	79.07 %
Q4 2017	100.00 %	81.19 %	88.35 %
2017	100.00 %	81.19 %	88.35 %
Q1 2018	100.00 %	82.01 %	87.86 %
Q2 2018	100.00 %	84.58 %	88.01 %
Q3 2018	100.00 %	85.48 %	89.43 %
Q4 2018	100.00 %	85.38 %	82.90 %
2018	100.00 %	85.38 %	82.91 %
Q1 2019	100.00 %	84.72 %	81.80 %
Q2 2019	100.00 %	82.12 %	79.17 %
Q3 2019	100.00 %	80.91 %	77.99 %
Q4 2019	100.00 %	78.19 %	75.13 %
2019	100.00 %	78.19 %	75.13 %
Q1 2020	100.00 %	79.20 %	76.57 %
Q2 2020	100.00 %	76.08 %	72.54 %
Q3 2020	100.00 %	73.03 %	69.07 %
Q4 2020	100.00 %	79.41 %	70.89 %
2020	100.00 %	79.41 %	70.89 %
Q1 2021	100.00 %	83.26 %	76.02 %
Q2 2021	100.00 %	86.21 %	80.29 %
Q3 2021	100.00 %	90.23 %	83.92 %
Q4 2021	100.00 %	91.41 %	89.81 %
2021	100.00 %	91.41 %	89.81 %
Q1 2022	100.00 %	91.38 %	90.36 %
Q2 2022	100.00 %	91.01 %	90.29 %
Q3 2022	100.00 %	89.01 %	89.77 %
Q4 2022	100.00 %	88.62 %	86.35 %
2022	100.00 %	88.62 %	86.35 %
Q1 2023	100.00 %	88.26 %	85.40 %
Q2 2023	100.00 %	90.85 %	88.20 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2013	100.00 %	85.80 %	81.34 %
2014	100.00 %	78.73 %	100.61 %
2015	100.00 %	68.14 %	63.72 %
2016	100.00 %	68.37 %	64.89 %
2017	100.00 %	81.19 %	88.35 %
2018	100.00 %	85.38 %	82.91 %
2019	100.00 %	78.19 %	75.13 %
2020	100.00 %	79.41 %	70.89 %
2021	100.00 %	91.41 %	89.81 %
2022	100.00 %	88.62 %	86.35 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	100.00 %	86.43 %	84.29 %
Q2 2014	100.00 %	75.86 %	66.09 %
Q3 2014	100.00 %	89.20 %	171.72 %
Q4 2014	100.00 %	56.42 %	49.93 %
Q1 2015	100.00 %	84.88 %	83.12 %
Q2 2015	100.00 %	83.85 %	89.10 %
Q3 2015	100.00 %	51.36 %	67.74 %
Q4 2015	100.00 %	603.36 %	940.27 %
Q1 2016	100.00 %	166.63 %	194.00 %
Q2 2016	100.00 %	89.66 %	84.82 %
Q3 2016	100.00 %	72.76 %	58.65 %
Q4 2016	100.00 %	51.15 %	46.95 %
Q1 2017	100.00 %	72.90 %	76.83 %
Q2 2017	100.00 %	85.32 %	90.59 %
Q3 2017	100.00 %	89.38 %	84.27 %
Q4 2017	100.00 %	72.05 %	96.18 %
Q1 2018	100.00 %	79.79 %	75.85 %
Q2 2018	100.00 %	90.83 %	89.73 %
Q3 2018	100.00 %	92.01 %	89.50 %
Q4 2018	100.00 %	71.93 %	68.20 %
Q1 2019	100.00 %	75.42 %	68.31 %
Q2 2019	100.00 %	83.08 %	81.52 %
Q3 2019	100.00 %	87.04 %	84.62 %
Q4 2019	100.00 %	35.13 %	29.00 %
Q1 2020	100.00 %	81.23 %	77.87 %
Q2 2020	100.00 %	74.23 %	69.94 %
Q3 2020	100.00 %	81.50 %	78.17 %
Q4 2020	100.00 %	78.92 %	56.68 %
Q1 2021	100.00 %	89.35 %	86.61 %
Q2 2021	100.00 %	89.03 %	86.81 %
Q3 2021	100.00 %	94.43 %	88.27 %
Q4 2021	100.00 %	90.60 %	96.43 %
Q1 2022	100.00 %	90.12 %	89.84 %
Q2 2022	100.00 %	88.41 %	87.88 %
Q3 2022	100.00 %	86.62 %	85.11 %
Q4 2022	100.00 %	88.89 %	80.84 %
Q1 2023	100.00 %	89.16 %	87.08 %
Q2 2023	100.00 %	94.59 %	93.60 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2014	60.00	0.46	0.48	14.68
Q2 2014	60.00	0.20	0.38	14.58
Q3 2014	60.00	0.29	0.48	14.86
Q4 2014	60.00	0.25	0.46	13.08
Q1 2015	60.00	0.28	0.47	12.92
Q2 2015	60.00	0.51	0.54	13.53
Q3 2015	60.00	0.31	0.32	12.65
Q4 2015	60.00	0.02	0.20	11.62
Q1 2016	60.00	(0.17)	0.02	11.87
Q2 2016	60.00	(0.12)	0.06	12.25
Q3 2016	60.00	(0.11)	0.08	12.22
Q4 2016	60.00	0.18	0.18	12.59
Q1 2017	60.00	0.30	0.30	12.74
Q2 2017	60.00	0.26	0.26	12.74
Q3 2017	60.00	0.38	0.38	12.81
Q4 2017	60.00	0.51	0.51	12.87
Q1 2018	60.00	0.52	0.52	13.64
Q2 2018	60.00	0.63	0.63	13.94
Q3 2018	60.00	0.66	0.66	13.89
Q4 2018	60.00	0.62	0.62	13.12
Q1 2019	60.00	0.61	0.61	13.75
Q2 2019	60.00	0.65	0.65	13.51
Q3 2019	60.00	0.65	0.65	13.14
Q4 2019	60.00	0.48	0.56	13.31
Q1 2020	60.00	0.55	0.63	12.55
Q2 2020	60.00	0.35	0.43	13.25
Q3 2020	60.00	0.28	0.37	13.66
Q4 2020	60.00	0.43	0.43	14.00
Q1 2021	60.00	0.58	0.58	14.66
Q2 2021	60.00	0.78	0.78	14.93
Q3 2021	60.00	1.18	1.18	15.37
Q4 2021	60.00	1.52	1.52	15.56
Q1 2022	60.00	1.75	1.75	16.13
Q2 2022	60.00	1.93	1.93	14.99
Q3 2022	60.00	1.77	1.77	15.14
Q4 2022	60.00	1.67	1.67	15.02
Q1 2023	60.00	1.52	1.52	15.41
Q2 2023	60.00	1.90	1.90	15.84

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2013	60.00	0.42	0.42	14.75
2014	60.00	0.25	0.46	13.08
2015	60.00	0.02	0.20	11.62
2016	60.00	0.20	0.20	12.59
2017	60.00	0.51	0.51	12.87
2018	60.00	0.62	0.62	13.12
2019	60.00	0.48	0.56	13.31
2020	60.00	0.43	0.43	14.00
2021	60.00	1.52	1.52	15.56
2022	60.00	1.67	1.67	15.02

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2014	34.09	33.19	1.08
Q2 2014	More than 50	49.40	1.30
Q3 2014	More than 50	41.17	1.34
Q4 2014	More than 50	30.20	1.06
Q1 2015	More than 50	32.47	1.18
Q2 2015	29.51	28.13	1.12
Q3 2015	35.37	34.00	0.87
Q4 2015	More than 50	More than 50	0.98
Q1 2016	NEG	More than 50	0.72
Q2 2016	NEG	More than 50	0.74
Q3 2016	NEG	More than 50	0.55
Q4 2016	More than 50	More than 50	0.80
Q1 2017	37.63	37.63	0.89
Q2 2017	38.35	38.35	0.78
Q3 2017	28.53	28.53	0.85
Q4 2017	22.52	22.52	0.89
Q1 2018	21.63	21.63	0.83
Q2 2018	17.73	17.73	0.80
Q3 2018	15.62	15.62	0.74
Q4 2018	17.54	17.54	0.82
Q1 2019	19.21	19.21	0.86
Q2 2019	15.92	15.92	0.77
Q3 2019	17.24	17.24	0.86
Q4 2019	24.12	20.65	0.86
Q1 2020	17.26	15.05	0.75
Q2 2020	30.70	25.00	0.81
Q3 2020	More than 50	42.77	1.14
Q4 2020	36.28	36.28	1.13
Q1 2021	More than 50	More than 50	2.34
Q2 2021	More than 50	More than 50	3.15
Q3 2021	36.00	36.00	2.77
Q4 2021	26.08	26.08	2.55
Q1 2022	22.21	22.21	2.41
Q2 2022	15.05	15.05	1.93
Q3 2022	15.68	15.68	1.83
Q4 2022	13.38	13.38	1.49
Q1 2023	15.94	15.94	1.57
Q2 2023	15.29	15.29	1.84

Period	P/E	Adjusted P/E	Price/book
2013	31.92	31.92	0.90
2014	More than 50	30.20	1.06
2015	More than 50	More than 50	0.98
2016	49.77	49.77	0.80
2017	22.52	22.52	0.89
2018	17.54	17.54	0.82
2019	24.12	20.65	0.86
2020	36.28	36.28	1.13
2021	26.08	26.08	2.55
2022	13.38	13.38	1.49

Business Segments (Million)

Compared With The

Period	Services and Invesments sector	Glass industry	Petrochemical sector	Petroleum and Energy Services sector	Others..
Q1 2014	-	1.49	6.54	-	0.01
Q2 2014	-	0.60	-	-	4.52
Q3 2014	-	1.94	4.90	-	9.84
Q4 2014	-	1.53	-	-	4.89
Q1 2015	3.25	-	4.90	-	0.95
Q2 2015	2.60	0.39	3.27	1.62	0.85
Q3 2015	4.93	-	-	-	-
Q4 2015	2.23	-	-	-	-
Q1 2016	-	-	3.27	-	0.01
Q2 2016	4.58	-	4.90	3.24	-
Q3 2016	2.73	-	-	-	0.04
Q4 2016	3.15	1.09	-	-	0.09
Q1 2017	3.09	-	4.90	-	0.79
Q2 2017	5.28	-	-	-	0.03
Q3 2017	3.02	-	4.90	5.06	-
Q4 2017	3.31	5.80	-	-	0.03
Q1 2018	3.07	2.41	-	-	0.03
Q2 2018	3.21	1.98	-	-	-
Q3 2018	2.86	4.31	5.72	-	-
Q4 2018	3.81	6.64	-	-	-
Q1 2019	2.85	3.19	-	-	-
Q2 2019	5.42	3.06	6.54	-	0.02
Q3 2019	5.01	2.85	5.72	-	0.01
Q4 2019	2.70	1.98	-	-	0.04
Q1 2020	3.36	1.65	5.72	-	-
Q2 2020	8.80	(2.09)	-	-	0.05
Q3 2020	2.27	3.24	4.09	-	0.02
Q4 2020	5.63	4.12	-	-	0.01
Q1 2021	7.38	8.22	4.09	-	0.01
Q2 2021	5.29	14.05	-	-	0.05
Q3 2021	6.43	24.54	4.90	-	-
Q4 2021	3.91	22.66	-	-	-
Q1 2022	8.56	20.98	4.90	-	-
Q2 2022	5.70	20.49	4.90	-	-
Q3 2022	5.66	20.31	-	-	0.01
Q4 2022	4.25	9.29	-	11.02	-
Q1 2023	10.92	11.92	2.50	-	-
Q2 2023	38.84	9.69	-	5.06	-

Period	Services and Invesments sector	Glass industry	Petrochemical sector	Petroleum and Energy Services sector	Others..
2013	-	0.59	3.27	22.75	4.24
2014	5.02	5.56	11.44	-	19.26
2015	13.00	-	8.17	1.62	0.27
2016	7.81	1.09	8.17	3.24	0.14
2017	14.70	5.80	9.81	8.30	0.85
2018	12.95	15.34	11.44	4.80	0.03
2019	15.99	11.08	12.26	5.06	0.07
2020	20.05	6.92	9.81	-	0.07
2021	23.01	69.47	8.99	-	0.06
2022	24.17	71.06	9.81	11.02	0.01

Financial Ratios

	Current
Market Cap (M Riyal)	2,694.00
Enterprise Value (EV) (M)	2,459.23
Shares Outstanding ((M))	60.00
EPS ( Riyal) (TTM)	3.90
Book Value (BV) ( Riyal)	18.40
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	11.33
P/E (TTM)	11.52
Price/book	2.44
Return on Average Assets (%) (TTM)	22.7
Return on Average Equity (%) (TTM)	23.1

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SAIC H1 2023 profit jumps 24% to SAR 72.2 mln; Q2 at SAR 50.2 mln

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Share Price

Saudi Advanced Industries Co. (SAIC)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2023 Q2

Financial Ratios

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SAIC H1 2023 profit jumps 24% to SAR 72.2 mln; Q2 at SAR 50.2 mln

View other reports

Share Price

Saudi Advanced Industries Co. (SAIC)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q2 2023

Revenue by Business Segment (Latest) 2023 Q2

Financial Ratios

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رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

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Business Segments (Million)