Financial Results : Alwasail Industrial 2024 profit up 17% to SAR 39.1M; Q4 at SAR 14.8M

Alwasail Industrial 2024 profit up 17% to SAR 39.1M; Q4 at SAR 14.8M

17/03/2025 Argaam Exclusive

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Alwasail Industrial Co. reported a net profit of SAR 39.1 million for 2024, an increase of 17% from SAR 33.6 million in 2023, on higher sales of pipes and fittings, in addition to profits from the sale of an investment in a subsidiary.


Financials (M)

Item 2023 2024 Change‬
Revenues 446.00 460.11 3.2 %
Gross Income 107.94 123.66 14.6 %
Operating Income 42.05 36.07 (14.2 %)
Net Income 33.59 39.14 16.5 %
Average Shares 250.00 250.00 -
Earnings Per Share before unusual items (Riyals) 0.13 0.12 (12.2 %)
EPS (Riyals) 0.13 0.16 16.5 %

Q4 2024 net earnings fell 7% to SAR 14.8 million, from SAR 15.8 million in the prior-year period.

 

On a sequential basis, net profit dropped 39.2% from SAR 24.3 million in Q3 2024.



Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 238.40 240.04 0.7 %
Gross Income 56.92 64.45 13.2 %
Operating Income 20.73 17.66 (14.8 %)
Net Income 15.86 14.79 (6.7 %)
Average Shares 250.00 250.00 -
Earnings Per Share before unusual items (Riyals) 0.06 0.06 (6.7 %)
EPS (Riyals) 0.06 0.06 (6.7 %)
Total shareholders’ equity, no minority interest, stood at SAR 361.19 million by Dec. 31, 2024, compared to SAR 360.03 million a year earlier.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 149.08 - 43.08 - 21.26 -
H2 2020 151.98 - 52.93 - 11.98 -
H1 2021 140.30 (5.9 %) 36.62 (15.0 %) 17.72 (16.6 %)
H2 2021 163.45 7.5 % 45.02 (14.9 %) 16.30 36.0 %
H1 2022 165.77 18.2 % 48.78 33.2 % 21.01 18.5 %
H2 2022 220.82 35.1 % 49.11 9.1 % 18.43 13.1 %
H1 2023 207.61 25.2 % 51.02 4.6 % 21.32 1.5 %
H2 2023 238.40 8.0 % 56.92 15.9 % 20.73 12.5 %
H1 2024 220.07 6.0 % 59.20 16.0 % 18.40 (13.7 %)
H2 2024 240.04 0.7 % 64.45 13.2 % 17.66 (14.8 %)
2024 460.11 3.2 % 123.66 14.6 % 36.07 (14.2 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items Earnings Per Share before unusual items
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 17.08 - 0.07 - 17.08 0.07
H2 2020 10.57 - 0.04 - 10.57 0.04
H1 2021 14.30 (16.3 %) 0.06 - 14.30 0.06
H2 2021 16.09 52.2 % 0.06 - 16.09 0.06
H1 2022 16.18 13.1 % 0.06 - 16.18 0.06
H2 2022 16.09 0.0 % 0.06 - 16.09 0.06
H1 2023 17.73 9.6 % 0.07 - 17.73 0.07
H2 2023 15.86 (1.4 %) 0.06 - 15.86 0.06
H1 2024 24.34 37.3 % 0.10 9.65 14.70 0.06
H2 2024 14.79 (6.7 %) 0.06 - 14.79 0.06
2024 39.14 16.5 % 0.16 9.65 29.49 0.12

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 31.89 % 14.51 % 9.19 %
H1 2021 30.64 % 13.49 % 8.51 %
H2 2021 26.88 % 14.45 % 10.01 %
H1 2022 28.49 % 14.35 % 9.80 %
H2 2022 25.32 % 12.90 % 8.35 %
H1 2023 23.37 % 11.90 % 7.89 %
H2 2023 24.20 % 12.11 % 7.53 %
H1 2024 24.38 % 11.60 % 7.26 %
H2 2024 25.56 % - 6.96 %
2024 26.88 % - 6.41 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
H1 2015 - - - -
H2 2015 - - - -
H1 2016 - - - -
H2 2016 - - - -
H1 2017 - - - -
H2 2017 - - - -
H1 2018 - - - -
H2 2018 - - - -
H1 2019 - - - -
H2 2019 - - - -
H1 2020 250.00 - - 1.24
H2 2020 250.00 0.11 0.11 1.18
H1 2021 250.00 0.10 0.10 1.24
H2 2021 250.00 0.12 0.12 1.30
H1 2022 250.00 0.13 0.13 1.32
H2 2022 250.00 0.13 0.13 1.38
H1 2023 250.00 0.14 0.14 1.38
H2 2023 250.00 0.13 0.13 1.44
H1 2024 250.00 0.30 0.26 1.44
H2 2024 250.00 0.29 0.25 1.44

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 - - -
H1 2022 18.98 18.98 1.86
H2 2022 14.18 14.18 1.32
H1 2023 15.24 15.24 1.49
H2 2023 17.42 17.42 1.62
H1 2024 8.88 10.21 1.83
H2 2024 10.31 11.89 2.08

Business Segments (Million)

Compared With The
Period Pipe Sales Parts Sales rubber sales Imported goods sales Electrical pipe sales Others**
Q2 2023 149.67 26.57 8.80 5.39 3.80 13.37
Q2 2024 164.24 32.65 9.14 6.40 2.60 5.04


Financial Ratios
Current
Market Cap (M Riyal) 827.50
Enterprise Value (EV) (M) 823.20
Shares Outstanding ((M)) 250.00
Book Value (BV) ( Riyal) 1.44
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 28.06
Price/book 2.29
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Share Price

Alwasail Industrial Co.
3.31
(0.14) (4.06 %)

Alwasail Industrial Co. (ALWASAIL INDUSTRIAL)

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