MOBI posts 22% drop in H1 2022 net profit to SAR 9.5 mln

11/09/2022 Argaam Exclusive

National Fertilizer Co. (MOBI) posted a 22% fall in H1 2022 net profit after Zakat and tax to SAR 9.5 million, compared to SAR 12.2 million a year earlier. 



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 86.90 97.76 12.5 %
Gross Income 27.44 24.57 (10.4 %)
Operating Income 12.35 9.19 (25.7 %)
Net Income 12.21 9.48 (22.4 %)
Average Shares 50.00 50.00 -
EPS (Riyals) 0.24 0.19 (22.4 %)

The company was hit by higher raw material prices, compared to the first half of 2021. The profit decrease came despite sales growth.



Current Half Annual Comparison (M)

Compared With The
Item H1 2021 H1 2022 Change‬
Revenues 86.90 97.76 12.5 %
Gross Income 27.44 24.57 (10.4 %)
Operating Income 12.35 9.19 (25.7 %)
Net Income 12.21 9.48 (22.4 %)
Average Shares 50.00 50.00 -
EPS (Riyals) 0.24 0.19 (22.4 %)

Shareholders’ equity, after minority interest, rose to SAR 69.140 million as of June 30, 2022, from SAR 66.288 million a year earlier.

 

Selling prices have been gradually adjusted since April 2022 to overcome increased raw material prices. The selling prices of fertilizers were raised by 65% on average.

 

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Share Price

MOBI Industry Co.
16.10
0.00 0.00 %

MOBI Industry Co. (MOBI INDUSTRY)

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Financial Ratios
Current
Market Cap (M Riyal) 805.00
Enterprise Value (EV) (M) 802.65
Shares Outstanding ((M)) 50.00
Book Value (BV) ( Riyal) 1.31
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 26.53
Price/book 12.29
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