Financial Results : Mulkia Investment H1 2023 profit up 40% to SAR 13.5M

Mulkia Investment H1 2023 profit up 40% to SAR 13.5M

19/09/2023 Argaam Exclusive

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Mulkia Investment Co., slated to be listed on Nomu-Parallel Market, posted SAR 13.5 million in net profit for the first half of 2023, up 40% from SAR 9.6 million in the year-ago period.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 18.42 23.59 28.0 %
Gross Income 12.96 16.39 26.5 %
Operating Income 10.48 14.64 39.6 %
Net Income 9.62 13.50 40.3 %
Average Shares 6.50 6.50 -
EPS (Riyals) 1.48 2.08 40.3 %


Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 18.42 23.59 28.0 %
Gross Income 12.96 16.39 26.5 %
Operating Income 10.48 14.64 39.6 %
Net Income 9.62 13.50 40.3 %
Average Shares 6.50 6.50 -
EPS (Riyals) 1.48 2.08 40.3 %

The profit rise was spurred by a 28% year-on-year (YoY) increase in revenues to SAR 23.6 million in H1 2023. Additionally, the gross profit margin grew from 70% in H1 2022 to SAR %74 in H1 2023, paired with an increase in operating profit margin from 57% in H1 2022 to 62% in H1 2023, the company said.

 

Shareholders' equity (no minority interest) soared to SAR 81.35 million in H1 2023, compared to SAR 75.93 million in the year-ago period.



Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 18.42 - 12.96 - 10.48 -
H2 2022 18.41 - 11.80 - 11.23 -
H1 2023 23.59 28.0 % 16.39 26.5 % 14.64 39.6 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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 9.62 - 1.48 - 9.62 1.48
H2 2022 6.70 - 1.03 - 6.70 1.03
H1 2023 13.50 40.3 % 2.08 - 13.50 2.08

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 - - -
H2 2022 67.23 % 61.79 % 44.31 %
H1 2023 67.13 % 64.31 % 48.09 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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 6.50 - - 11.68
H2 2022 6.50 2.51 2.51 10.36
H1 2023 6.50 3.11 3.11 12.52

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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 - - -
H2 2022 - - -
H1 2023 - - -

Business Segments (Million)

Compared With The
Period Asset management Investment Others
Q2 2022 16.49 1.93 -
Q4 2022 14.98 3.43 -
Q2 2023 19.29 1.15 3.15


Financial Ratios
Current
Market Cap (M Riyal) 247.00
Enterprise Value (EV) (M) 194.56
Shares Outstanding ((M)) 6.50
Book Value (BV) ( Riyal) 13.74
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 11.87
Price/book 2.77
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Share Price

Mulkia Investment Co.
38.00
1.00 2.70 %

Mulkia Investment Co. (MULKIA)

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