SAIC Q1 2024 profit surges to SAR 108.7M

16/04/2024 Argaam Exclusive

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Share Price

Saudi Advanced Industries Co.
44.90
(0.15) (0.33 %)

Saudi Advanced Industries Co. (SAIC)

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Saudi Advanced Industries Co. (SAIC) reported a profit increase in Q1 2024 net profit to SAR 108.7 million from SAR 22.1 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 25.35 121.89 380.8 %
Gross Income 25.35 121.89 380.8 %
Operating Income 22.57 112.21 397.2 %
Net Income 22.07 108.72 392.6 %
Average Shares 60.00 60.00 -
EPS (Riyals) 0.37 1.81 392.6 %

The profit increase is mainly due to higher profit from financial assets at fair value through profit or loss, despite a decrease in the company's share in profits from associates, as well as a rise in financing costs, general and administrative expenses, and Zakat expenses.

 

Compared to Q4 2023, net profit jumped 201.2% from SAR 36.09 million.

 

Shareholders’ equity, no minority interest, rose to SAR 1.10 billion by March 31, 2024, from SAR 924.58 million in the year-earlier period.

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
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)
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
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
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
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)
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
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
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
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
Q3 2023 46.03 77.3 % 46.03 77.3 % 38.94 76.2 % 0.65
Q4 2023 53.64 118.5 % 53.64 118.5 % 36.09 81.8 % 0.60
Q1 2024 121.89 380.8 % 121.89 380.8 % 108.72 392.6 % 1.81

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %
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 %
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 %
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 %
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 %
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 %
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 %
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 %
Q1 2023 100.00 % 88.26 % 85.40 %
Q2 2023 100.00 % 90.85 % 88.20 %
Q3 2023 100.00 % 90.98 % 87.63 %
Q4 2023 100.00 % 90.08 % 84.63 %
Q1 2024 100.00 % - 86.43 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q3 2023 60.00 2.18 2.18 16.04
Q4 2023 60.00 2.45 2.52 16.59
Q1 2024 60.00 3.90 3.96 18.40

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q3 2023 13.37 13.37 1.82
Q4 2023 11.48 11.18 1.73
Q1 2024 10.34 10.17 2.19

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 -
Q3 2023 4.02 42.01 - - -


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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