Alwasail profit rises 10% to SAR 17.7 mln in H1 2023

22/08/2023 Argaam Exclusive

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Alwasail Industrial Co.’s net profit grew 10% to SAR 17.7 million in the first half of 2023, compared to SAR 16.2 million in the prior-year period, thanks to a 25% year-on-year jump in sales.

Financials (M)

Item	6m 2022	6m 2023	Change‬
Revenues	165.77	207.61	25.2 %
Gross Income	48.78	51.02	4.6 %
Operating Income	21.01	21.32	1.5 %
Net Income	16.18	17.73	9.6 %
Average Shares	250.00	250.00	-
EPS (Riyals)	0.06	0.07	9.6 %

Current Half Annual Comparison (M)

Compared With The

Item	H1 2022	H1 2023	Change‬
Revenues	165.77	207.61	25.2 %
Gross Income	48.78	51.02	4.6 %
Operating Income	21.01	21.32	1.5 %
Net Income	16.18	17.73	9.6 %
Average Shares	250.00	250.00	-
EPS (Riyals)	0.06	0.07	9.6 %

Item	H2 2022	H1 2023	Change‬
Revenues	220.82	207.61	(6.0 %)
Gross Income	49.11	51.02	3.9 %
Operating Income	18.43	21.32	15.6 %
Net Income	16.09	17.73	10.2 %
Average Shares	250.00	250.00	-
EPS (Riyals)	0.06	0.07	10.2 %

Total shareholders’ equity, no minority interest, increased to SAR 345.12 million by the end of the six-month period, compared to SAR 329.91 million in the year-earlier period.

Historical Data
Period	Revenue (SAR mln)	Net Profit (SAR mln)	EPS (SAR)
H1 2020	149.08	17.08	0.68
H2 2020	151.98	10.58	0.42
H1 2021	140.30	14.30	0.57
H2 2021	163.45	16.09	0.64
H1 2022	165.77	16.18	0.65
H2 2022	220.82	16.09	0.64
H1 2023	207.61	17.73	0.71

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