Thob Al-Aseel net profit drops 31% to SAR 48.5 mln in H1 2021

15/07/2021 Argaam Exclusive

Thob Al-Aseel Co. reported a net profit after Zakat and tax of SAR 48.5 million for the first half of 2021, a fall of 30.6% from SAR 69.8 million in the year-ago period. 

 

The company was hit by lower sales and gross profit, due to the increase in low-profitability product sales. Moreover, the Saudi government initiatives had a positive impact on net profit during the first half of 2020.



Financials (M)

Item 6m 2020 6m 2021 Change‬
Revenues 311.29 306.89 (1.4 %)
Gross Income 117.84 108.57 (7.9 %)
Operating Income 77.76 59.71 (23.2 %)
Net Income 69.84 48.46 (30.6 %)
Average Shares 400.00 400.00 -
EPS (Riyals) 0.17 0.12 (30.6 %)


Current Quarter Comparison (M)

Compared With The
Item Q2 2020 Q2 2021 Change‬
Revenues 193.84 168.06 (13.3 %)
Gross Income 74.86 61.02 (18.5 %)
Operating Income 56.01 40.55 (27.6 %)
Net Income 52.32 34.49 (34.1 %)
Average Shares 400.00 400.00 -
EPS (Riyals) 0.13 0.09 (34.1 %)

The second-quarter net profit decreased by 34% to SAR 34.5 million from SAR 52.32 million in Q2 2020

When compared to the previous quarter, the company’s net profit after Zakat and tax more than doubled from SAR 14 million, driven by higher sales, due to seasonal factors.

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Share Price

Thob Al Aseel Co.
4.20
(0.02) (0.47 %)

Thob Al Aseel Co. (ALASEEL)

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Financial Ratios
Current
Market Cap (M Riyal) 1,680.00
Enterprise Value (EV) (M) 1,588.67
Shares Outstanding ((M)) 400.00
EPS ( Riyal) (TTM) 0.21
Book Value (BV) ( Riyal) 1.45
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 20.05
P/E (TTM) 20.05
Price/book 2.89
Return on Average Assets (%) (TTM) 12.2
Return on Average Equity (%) (TTM) 14.5
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