Ladun Investment records net profit of SAR 30 mln in H1 2022

07/09/2022 Argaam Exclusive

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Ladun Investment Co. reported to a 59.2% drop in H1 2022 net profit after Zakat and tax to SAR 30 million, from SAR 73.5 million in the year-earlier period.

Financials (M)

Item	6m 2021	6m 2022	Change‬
Revenues	402.40	513.89	27.7 %
Gross Income	35.86	81.88	128.3 %
Operating Income	10.48	43.16	311.8 %
Net Income	73.49	30.01	(59.2 %)
Average Shares	500.00	500.00	-
EPS (Riyals)	0.15	0.06	(59.2 %)

The company said that last year’s results included non-recurring profit of SAR 57.58 million from the sale of a subsidiary.

Adjusting for the impact of non-recurring profit, Ladun’s net profit from recurring operations would grow by 89% year-on-year (YoY) or SAR 14.10 million.

The first-half net profit reached SAR 30.012 million, compared to SAR 15.906 million from continued operations in H1 2021, excluding non-recurring profit from the sale of a subsidiary.

Ladun reported improved performance from core operations during the six-month period, backed by better revenue from the launch of new projects with strong profit margins, the improved execution of ongoing projects, the operating efficiency from cost management and the commencement of commercial production at some factories.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2021	H1 2022	Change‬
Revenues	402.40	513.89	27.7 %
Gross Income	35.86	81.88	128.3 %
Operating Income	10.48	43.16	311.8 %
Net Income	73.49	30.01	(59.2 %)
Average Shares	500.00	500.00	-
EPS (Riyals)	0.15	0.06	(59.2 %)

Item	H2 2021	H1 2022	Change‬
Revenues	367.42	513.89	39.9 %
Gross Income	66.99	81.88	22.2 %
Operating Income	25.40	43.16	69.9 %
Net Income	7.31	30.01	310.4 %
Average Shares	500.00	500.00	-
EPS (Riyals)	0.01	0.06	310.4 %

Shareholders’ equity, after minority interest, rose to SAR 544.16 million as of June 30, 2022, from SAR 539.38 million a year earlier.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
H1 2013	-	-	-	-	-	-
H2 2013	-	-	-	-	-	-
2013	-	-	-	-	-	-
H1 2014	-	-	-	-	-	-
H2 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	205.05	-	49.26	-	(15.97)	-
H1 2020	176.02	-	28.22	-	(0.97)	-
H2 2020	351.00	-	77.58	-	32.93	-
2020	527.02	157.0 %	105.80	114.8 %	31.96	300.1 %
H1 2021	402.40	128.6 %	35.86	27.1 %	10.48	1182.2 %
H2 2021	367.42	4.7 %	66.99	(13.7 %)	25.40	(22.9 %)
2021	769.82	46.1 %	102.85	(2.8 %)	35.88	12.3 %
H1 2022	513.89	27.7 %	81.88	128.3 %	43.16	311.8 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2012	-	-	-	-	-	-
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	205.05	-	49.26	-	(15.97)	-
2020	527.02	157.0 %	105.80	114.8 %	31.96	300.1 %
2021	769.82	46.1 %	102.85	(2.8 %)	35.88	12.3 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
H1 2013	-	-	-	-	-	-
H2 2013	-	-	-	-	-	-
2013	-	-	-	-	-	-
H1 2014	-	-	-	-	-	-
H2 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	(8.82)	-	(0.02)	-	(8.82)	(0.02)
H1 2020	(3.02)	-	(0.01)	-	(3.02)	(0.01)
H2 2020	27.84	-	0.06	-	27.84	0.06
2020	24.82	381.2 %	0.05	-	24.82	0.05
H1 2021	73.49	2530.5 %	0.15	57.58	15.91	0.03
H2 2021	7.31	(73.7 %)	0.01	-	7.31	0.01
2021	80.80	225.6 %	0.16	57.58	23.22	0.05
H1 2022	30.01	(59.2 %)	0.06	-	30.01	0.06

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2012	-	-	-	-	-	-
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	(8.82)	-	(0.02)	-	(8.82)	(0.02)
2020	24.82	381.2 %	0.05	-	24.82	0.05
2021	80.80	225.6 %	0.16	57.58	23.22	0.05

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
H1 2013	-	-	-
H2 2013	-	-	-
2013	-	-	-
H1 2014	-	-	-
H2 2014	-	-	-
2014	-	-	-
H1 2015	-	-	-
H2 2015	-	-	-
2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
2016	-	-	-
H1 2017	-	-	-
H2 2017	-	-	-
2017	-	-	-
H1 2018	-	-	-
H2 2018	-	-	-
2018	-	-	-
H1 2019	-	-	-
H2 2019	-	-	-
2019	24.03 %	13.64 %	(4.30 %)
H1 2020	-	-	-
H2 2020	20.07 %	15.69 %	4.71 %
2020	20.07 %	15.69 %	4.71 %
H1 2021	15.06 %	12.65 %	5.81 %
H2 2021	13.36 %	8.31 %	3.02 %
2021	13.36 %	8.31 %	3.02 %
H1 2022	16.89 %	11.37 %	4.24 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	24.03 %	13.64 %	(4.30 %)
2020	20.07 %	15.69 %	4.71 %
2021	13.36 %	8.31 %	3.02 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
H1 2013	-	-	-
H2 2013	-	-	-
H1 2014	-	-	-
H2 2014	-	-	-
H1 2015	-	-	-
H2 2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
H1 2017	-	-	-
H2 2017	-	-	-
H1 2018	-	-	-
H2 2018	-	-	-
H1 2019	-	-	-
H2 2019	-	-	-
H1 2020	16.03 %	8.37 %	(1.72 %)
H2 2020	22.10 %	19.37 %	7.93 %
H1 2021	8.91 %	6.79 %	3.95 %
H2 2021	18.23 %	9.98 %	1.99 %
H1 2022	15.93 %	12.36 %	5.84 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
H1 2013	-	-	-	-
H2 2013	-	-	-	-
H1 2014	-	-	-	-
H2 2014	-	-	-	-
H1 2015	-	-	-	-
H2 2015	-	-	-	-
H1 2016	-	-	-	-
H2 2016	-	-	-	-
H1 2017	-	-	-	-
H2 2017	-	-	-	-
H1 2018	-	-	-	-
H2 2018	-	-	-	-
H1 2019	-	-	-	-
H2 2019	-	-	-	-
H1 2020	500.00	-	-	1.08
H2 2020	500.00	0.05	0.05	0.89
H1 2021	500.00	0.20	0.09	1.08
H2 2021	500.00	0.16	0.05	1.03
H1 2022	500.00	0.07	0.07	1.09

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2012	-	-	-	-
2013	-	-	-	-
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	-	-	-	-
2019	500.00	(0.02)	(0.02)	0.83
2020	500.00	0.05	0.05	0.89
2021	500.00	0.16	0.05	1.03

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
H1 2013	-	-	-
H2 2013	-	-	-
H1 2014	-	-	-
H2 2014	-	-	-
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	20.15	20.15	1.38

Period	P/E	Adjusted P/E	Price/book
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-

Business Segments (Million)

Compared With The

Period	Real estate investment	Construction sector	Industrial development	services segment	Restaurants
Q2 2020	114.25	23.88	-	1.31	36.59
Q4 2020	171.37	117.42	-	0.49	61.72
Q2 2021	343.87	30.86	23.45	4.22	-
Q4 2021	198.00	132.93	39.79	(3.31)	-
Q2 2022	307.32	156.57	48.46	1.55	-

Period	Real estate investment	Construction sector	Industrial development	services segment	Restaurants
2019	16.45	59.07	-	74.48	55.05
2020	285.61	141.30	-	1.80	98.30
2021	541.87	163.79	63.24	0.92	-

Financial Ratios

	Current
Market Cap (M Riyal)	1,790.00
Enterprise Value (EV) (M)	2,707.32
Shares Outstanding ((M))	500.00
Book Value (BV) ( Riyal)	1.19
Par Value ( Riyal)	1.00
Adjusted P/E (Last12)	14.78
Price/book	3.01

Ladun Investment Co. (LADUN)

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Ladun Investment records net profit of SAR 30 mln in H1 2022

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Financials (M)

Current Half Annual Comparison (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) 2022 Q2

Financial Ratios

Share Price

Ladun Investment Co. (LADUN)

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Ladun Investment records net profit of SAR 30 mln in H1 2022

View other reports

Financials (M)

Current Half Annual Comparison (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) Q2 2022

Revenue by Business Segment (Latest) 2022 Q2

Financial Ratios

Share Price

Ladun Investment Co. (LADUN)

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Business Segments (Million)