Shaker reports 95% profit growth to SAR 28.8 mln in Q1 2023

16/05/2023 Argaam Exclusive

Al Hassan Ghazi Ibrahim Shaker Co. reported a net profit of SAR 28.8 million in Q1 2023, a leap of 95% compared to SAR 14.8 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2022 Q1 2023 Change‬
Revenues 297.23 346.56 16.6 %
Gross Income 72.37 87.11 20.4 %
Operating Income 16.58 27.87 68.1 %
Net Income 14.76 28.77 94.9 %
Average Shares 55.50 55.50 -
EPS (Riyals) 0.27 0.52 94.9 %

Shaker recorded revenue of SAR 346.56 million in Q1 2023, an increase of 16.60% year-on-year (YoY), driven by a diversified and expanded product portfolio, along with an expanded market share.

 

The HVAC solutions segment, including B2B and B2C offerings, experienced significant double-digit growth of 22.1% and the integration of LG’s full product range in Q1 2023 boosted the home appliances segment with an 11.4% YoY increase.

 

Gross profit rose 20.37% YoY to SAR 87.11 million, in line with higher revenue, and a favorable portfolio mix.

 

Operating income reached SAR 28.60 million in Q1 2023, up 64.84% YoY.

 

The significant growth in operating profit was primarily driven by higher revenue.

 

On a quarterly basis, the company turned profitable from a loss of SAR 2.11 million in Q4 2022.

 

Total shareholders’ equity, excluding minority interest, stood at SAR 682.4 million in Q1 2023, compared to SAR 636.9 million a year earlier.

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Share Price

Al Hassan Ghazi Ibrahim Shaker Co.
24.86
0.28 1.14 %

Al Hassan Ghazi Ibrahim Shaker Co. (SHAKER)

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Financial Ratios
Current
Market Cap (M Riyal) 1,379.73
Enterprise Value (EV) (M) 1,625.70
Shares Outstanding ((M)) 55.50
EPS ( Riyal) (TTM) 1.27
Book Value (BV) ( Riyal) 14.12
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 19.60
P/E (TTM) 19.60
Price/book 1.76
Return on Average Assets (%) (TTM) 4.2
Return on Average Equity (%) (TTM) 9.4
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