Ladun records net profit of SAR 60.2 mln in 2022

22/03/2023 Argaam Exclusive

Ladun Investment Co. reported a decline of 26% in net profit to SAR 60.2 million in 2022, from SAR 80.8 million a year earlier.



Financials (M)

Item 2021 2022 Change‬
Revenues 769.82 881.18 14.5 %
Gross Income 102.85 167.06 62.4 %
Operating Income 35.88 77.43 115.8 %
Net Income 80.80 60.19 (25.5 %)
Average Shares 500.00 500.00 -
EPS (Riyals) 0.16 0.12 (25.5 %)

The profit decline was attributed to recording a non-recurring profit from sale of a subsidiary during last year at a value of SAR 57.58 million.

 

Excluding the impact of non-recurring profit, the company’s net profit from recurring operations grew by SAR 36.97 million, or 159%.

 

The company also noted the start of new projects with good profit margins, improvement at on-going projects, efficiency in managing projects’ costs, starting commercial production from new factories.



Current Half Annual Comparison (M)

Compared With The
Item H2 2021 H2 2022 Change‬
Revenues 367.42 367.29 0.0 %
Gross Income 66.99 85.18 27.2 %
Operating Income 25.40 34.27 34.9 %
Net Income 7.31 30.18 312.6 %
Average Shares 500.00 500.00 -
EPS (Riyals) 0.01 0.06 312.6 %

Total shareholders’ equity, no minority interest, fell to SAR 551.99 million as of Dec. 31, 2022, from SAR 516.69 million a year earlier.

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Share Price

Ladun Investment Co.
3.25
0.10 3.17 %

Ladun Investment Co. (LADUN)

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Financial Ratios
Current
Market Cap (M Riyal) 1,625.00
Enterprise Value (EV) (M) 2,542.32
Shares Outstanding ((M)) 500.00
Book Value (BV) ( Riyal) 1.19
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 13.42
Price/book 2.73
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