Rawasi Albina posts SAR 9.5M loss in H1 2024

26/08/2024 Argaam Exclusive

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Rawasi Albina Investment Co. reported a net loss of SAR 9.5 million in the first half of 2024, against a net profit of SAR 15.1 in the same period a year earlier.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	94.20	38.09	(59.6 %)
Net Income	15.13	(9.48)	(162.7 %)
Average Shares	55.00	55.00	-
EPS (Riyals)	0.28	(0.17)	(162.7 %)

The losses came on the back of increased spending to raise operational capacity in preparation for new projects.

In addition, a number of projects were completed and delivered during the first half of 2024.

The company received new projects in H1 2024, the financial impact of which is expected in later periods.

Shareholders’ equity, no minority interest, reached SAR 128 million as of June 30, 2024, down from SAR 130 million a year earlier.

Historical Data
Period	Revenue (SAR mln)	Net Profit (SAR mln)	EPS (SAR)
H1 2021	45.45	10.08	0.18
H2 2021	50.08	7.41	0.14
H1 2022	55.39	9.47	0.17
H2 2022	79.83	11.43	0.21
H1 2023	94.20	15.13	0.28
H2 2023	70.04	7.56	0.14
H1 2024	38.09	(9.48)	(0.18)

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	84.30	-	27.21	-	23.81	-
Q1 2020	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	91.42	8.4 %	28.20	3.7 %	23.72	(0.3 %)
Q1 2021	21.80	-	6.28	-	5.05	-
Q2 2021	23.65	-	8.04	-	6.67	-
Q3 2021	-	-	-	-	-	-
Q4 2021	-	-	-	-	-	-
2021	95.53	4.5 %	30.01	6.4 %	23.97	1.1 %
Q1 2022	29.15	33.7 %	8.68	38.3 %	7.13	41.3 %
Q2 2022	26.24	11.0 %	7.60	(5.5 %)	5.91	(11.4 %)
Q3 2022	-	-	-	-	-	-
Q4 2022	-	-	-	-	-	-
2022	135.22	41.5 %	37.55	25.1 %	31.00	29.3 %
Q1 2023	47.43	62.7 %	10.38	19.6 %	8.64	21.1 %
Q2 2023	46.78	78.3 %	-	-	-	-
Q3 2023	-	-	-	-	-	-
Q4 2023	-	-	-	-	-	-
2023	164.24	21.5 %	42.50	13.2 %	34.99	12.9 %
Q1 2024	-	-	-	-	-	-
Q2 2024	-	-	-	-	-	-

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	84.30	-	27.21	-	23.81	-
2020	91.42	8.4 %	28.20	3.7 %	23.72	(0.3 %)
2021	95.53	4.5 %	30.01	6.4 %	23.97	1.1 %
2022	135.22	41.5 %	37.55	25.1 %	31.00	29.3 %
2023	164.24	21.5 %	42.50	13.2 %	34.99	12.9 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	17.79	-	0.32	-	17.79	0.32
Q1 2020	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	18.26	2.6 %	0.33	-	18.26	0.33
Q1 2021	4.41	-	0.08	-	4.41	0.08
Q2 2021	5.66	-	0.10	-	5.66	0.10
Q3 2021	-	-	-	-	-	-
Q4 2021	-	-	-	-	-	-
2021	17.48	(4.2 %)	0.32	-	17.48	0.32
Q1 2022	5.39	22.2 %	0.10	-	5.39	0.10
Q2 2022	4.07	(28.1 %)	0.07	-	4.07	0.07
Q3 2022	-	-	-	-	-	-
Q4 2022	-	-	-	-	-	-
2022	20.90	19.5 %	0.38	-	20.90	0.38
Q1 2023	6.77	25.5 %	0.12	-	6.77	0.12
Q2 2023	8.36	105.2 %	0.15	-	8.36	0.15
Q3 2023	-	-	-	-	-	-
Q4 2023	-	-	-	-	-	-
2023	22.69	8.6 %	0.41	-	22.69	0.41
Q1 2024	-	-	-	-	-	-
Q2 2024	-	-	-	-	-	-

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	17.79	-	0.32	-	17.79	0.32
2020	18.26	2.6 %	0.33	-	18.26	0.33
2021	17.48	(4.2 %)	0.32	-	17.48	0.32
2022	20.90	19.5 %	0.38	-	20.90	0.38
2023	22.69	8.6 %	0.41	-	22.69	0.41

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
2019	32.28 %	30.33 %	21.11 %
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
2020	30.85 %	29.64 %	19.97 %
Q1 2021	28.79 %	-	20.24 %
Q2 2021	31.50 %	-	22.17 %
Q3 2021	-	-	-
Q4 2021	-	-	-
2021	31.41 %	29.46 %	18.30 %
Q1 2022	30.82 %	-	20.74 %
Q2 2022	30.34 %	-	19.38 %
Q3 2022	-	-	-
Q4 2022	-	-	-
2022	27.77 %	26.17 %	15.45 %
Q1 2023	27.44 %	-	17.32 %
Q2 2023	-	-	16.44 %
Q3 2023	-	-	-
Q4 2023	-	-	-
2023	25.88 %	24.19 %	13.81 %
Q1 2024	-	-	-
Q2 2024	-	-	-

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	32.28 %	30.33 %	21.11 %
2020	30.85 %	29.64 %	19.97 %
2021	31.41 %	29.46 %	18.30 %
2022	27.77 %	26.17 %	15.45 %
2023	25.88 %	24.19 %	13.81 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
Q1 2021	28.79 %	-	20.24 %
Q2 2021	33.99 %	-	23.95 %
Q3 2021	-	-	-
Q4 2021	-	-	-
Q1 2022	29.78 %	-	18.51 %
Q2 2022	28.96 %	-	15.52 %
Q3 2022	-	-	-
Q4 2022	-	-	-
Q1 2023	21.89 %	-	14.27 %
Q2 2023	-	-	17.87 %
Q3 2023	-	-	-
Q4 2023	-	-	-
Q1 2024	-	-	-
Q2 2024	-	-	-

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2015	-	-	-	-
Q2 2015	-	-	-	-
Q3 2015	-	-	-	-
Q4 2015	-	-	-	-
Q1 2016	-	-	-	-
Q2 2016	-	-	-	-
Q3 2016	-	-	-	-
Q4 2016	-	-	-	-
Q1 2017	-	-	-	-
Q2 2017	-	-	-	-
Q3 2017	-	-	-	-
Q4 2017	-	-	-	-
Q1 2018	-	-	-	-
Q2 2018	-	-	-	-
Q3 2018	-	-	-	-
Q4 2018	-	-	-	-
Q1 2019	-	-	-	-
Q2 2019	-	-	-	-
Q3 2019	-	-	-	-
Q4 2019	-	-	-	-
Q1 2020	-	-	-	-
Q2 2020	-	-	-	-
Q3 2020	-	-	-	-
Q4 2020	-	-	-	-
Q1 2021	55.00	0.08	0.08	-
Q2 2021	55.00	0.18	0.18	1.56
Q3 2021	-	-	-	-
Q4 2021	-	-	-	-
Q1 2022	55.00	0.28	0.28	-
Q2 2022	55.00	0.36	0.36	1.86
Q3 2022	-	-	-	-
Q4 2022	-	-	-	-
Q1 2023	55.00	0.40	0.40	-
Q2 2023	55.00	0.45	0.45	2.36
Q3 2023	-	-	-	-
Q4 2023	-	-	-	-
Q1 2024	-	-	-	-
Q2 2024	-	-	-	-

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	-	-	-	-
2019	55.00	0.32	0.32	1.04
2020	55.00	0.33	0.33	1.37
2021	55.00	0.32	0.32	1.69
2022	55.00	0.38	0.38	2.09
2023	55.00	0.41	0.41	2.50

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
Q1 2022	-	-	-
Q2 2022	-	-	-
Q3 2022	-	-	-
Q4 2022	-	-	-
Q1 2023	22.10	22.10	-
Q2 2023	13.46	13.46	2.55
Q3 2023	-	-	-
Q4 2023	-	-	-
Q1 2024	-	-	-
Q2 2024	-	-	-

Period	P/E	Adjusted P/E	Price/book
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-
2022	16.42	16.42	2.99
2023	12.87	12.87	2.12

Business Segments (Million)

Compared With The

Period	Electricity installation and connection service	Communications installation and connection services	Selling shutters and communications supplies

Period	Electricity installation and connection service	Communications installation and connection services	Selling shutters and communications supplies
2019	34.65	30.32	19.33
2020	54.05	37.37	-
2021	67.70	27.83	-
2022	111.87	23.35	-
2023	128.11	36.13	-

Financial Ratios

	Current
Market Cap (M Riyal)	242.00
Enterprise Value (EV) (M)	281.71
Shares Outstanding ((M))	55.00
Book Value (BV) ( Riyal)	2.50
Par Value ( Riyal)	1.00
Adjusted P/E (Last12)	10.67
Price/book	1.76

Rawasi Albina Investment Co. (RAWASI)

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Rawasi Albina posts SAR 9.5M loss in H1 2024

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Financials (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2024 Q2

Financial Ratios

Share Price

Rawasi Albina Investment Co. (RAWASI)

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Rawasi Albina posts SAR 9.5M loss in H1 2024

View other reports

Financials (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) 2023

Revenue by Business Segment (Latest) 2024 Q2

Financial Ratios

Share Price

Rawasi Albina Investment Co. (RAWASI)

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Business Segments (Million)