Amlak H1 net profit down 69% to SAR 17.4 mln; Q2 at SAR 6.3 mln

01/08/2023 Argaam Exclusive

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Amlak International Finance Co. reported a net profit of SAR 17.4 million in H1 2023, a decline of 69% from SAR 55.7 million in the year-earlier period.

Financials (M)

Item	6m 2022	6m 2023	Change‬
Net income from finance commissions	103.61	84.01	(18.9 %)
Net Income	55.68	17.35	(68.8 %)
Average Shares	101.93	101.93	-
EPS (Riyals)	0.55	0.17	(68.8 %)

The profit drop was attributed to higher finance costs, impairment charges for expected credit losses and operating expenses. This was partially offset by an increase in special commission income.

The company reported a net profit of SAR 6.31 million in Q2 2023, a 77.9% pullback from SAR 28.56 million a year ago.

On a sequential basis, net earnings dropped by 42.8% from SAR 11.04 million.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2022	Q2 2023	Change‬
Net income from finance commissions	51.14	41.64	(18.6 %)
Net Income	28.56	6.31	(77.9 %)
Average Shares	101.93	101.93	-
EPS (Riyals)	0.28	0.06	(77.9 %)

Item	Q1 2023	Q2 2023	Change‬
Net income from finance commissions	42.37	41.64	(1.7 %)
Net Income	11.04	6.31	(42.8 %)
Average Shares	101.93	101.93	-
EPS (Riyals)	0.11	0.06	(42.8 %)

View More Financial Results

Financial results (Million)

Period	Commission income from finance and investments	Change	Net income from finance commissions	Change
Q1 2014	-	-	-	-
Q2 2014	-	-	-	-
Q3 2014	-	-	-	-
Q4 2014	-	-	-	-
2014	163.30	30.4 %	128.87	19.3 %
Q1 2015	-	-	-	-
Q2 2015	-	-	-	-
Q3 2015	-	-	-	-
Q4 2015	-	-	-	-
2015	209.48	28.3 %	160.76	24.7 %
Q1 2016	60.59	-	45.15	-
Q2 2016	65.61	-	46.33	-
Q3 2016	66.99	-	44.16	-
Q4 2016	67.19	-	42.94	-
2016	260.39	24.3 %	178.58	11.1 %
Q1 2017	66.64	10.0 %	43.52	(3.6 %)
Q2 2017	67.01	2.1 %	44.55	(3.8 %)
Q3 2017	64.81	(3.3 %)	42.52	(3.7 %)
Q4 2017	67.54	0.5 %	43.66	1.7 %
2017	265.99	2.2 %	174.24	(2.4 %)
Q1 2018	66.60	(0.1 %)	44.63	2.6 %
Q2 2018	62.94	(6.1 %)	40.68	(8.7 %)
Q3 2018	66.04	1.9 %	42.94	1.0 %
Q4 2018	71.63	6.1 %	49.17	12.6 %
2018	267.08	0.4 %	177.42	1.8 %
Q1 2019	68.67	3.1 %	43.96	(1.5 %)
Q2 2019	68.89	9.5 %	44.72	9.9 %
Q3 2019	84.52	28.0 %	60.03	39.8 %
Q4 2019	74.26	3.7 %	51.03	3.8 %
2019	296.35	11.0 %	199.74	12.6 %
Q1 2020	75.26	9.6 %	61.20	39.2 %
Q2 2020	73.16	6.2 %	52.34	17.0 %
Q3 2020	71.52	(15.4 %)	52.43	(12.7 %)
Q4 2020	58.79	(20.8 %)	45.02	(11.8 %)
2020	278.72	(5.9 %)	210.99	5.6 %
Q1 2021	71.97	(4.4 %)	55.94	(8.6 %)
Q2 2021	70.61	(3.5 %)	54.37	3.9 %
Q3 2021	72.51	1.4 %	63.86	21.8 %
Q4 2021	69.38	18.0 %	54.23	20.5 %
2021	284.46	2.1 %	228.40	8.3 %
Q1 2022	67.40	(6.3 %)	52.48	(6.2 %)
Q2 2022	69.82	(1.1 %)	51.14	(6.0 %)
Q3 2022	82.23	13.4 %	63.01	(1.3 %)
Q4 2022	72.02	3.8 %	52.91	(2.4 %)
2022	291.47	2.5 %	219.53	(3.9 %)
Q1 2023	68.92	2.3 %	42.37	(19.3 %)
Q2 2023	72.83	4.3 %	41.64	(18.6 %)

Period	Commission income from finance and investments	Change	Net income from finance commissions	Change
2013	125.25	-	108.00	-
2014	163.30	30.4 %	128.87	19.3 %
2015	209.48	28.3 %	160.76	24.7 %
2016	260.39	24.3 %	178.58	11.1 %
2017	265.99	2.2 %	174.24	(2.4 %)
2018	267.08	0.4 %	177.42	1.8 %
2019	296.35	11.0 %	199.74	12.6 %
2020	278.72	(5.9 %)	210.99	5.6 %
2021	284.46	2.1 %	228.40	8.3 %
2022	291.47	2.5 %	219.53	(3.9 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2014	-	-	-	-	-	-
Q2 2014	-	-	-	-	-	-
Q3 2014	-	-	-	-	-	-
Q4 2014	-	-	-	-	-	-
2014	84.73	16.6 %	0.83	-	84.73	0.83
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	102.88	21.4 %	1.01	-	102.88	1.01
Q1 2016	24.82	-	0.24	-	24.82	0.24
Q2 2016	29.83	-	0.29	-	29.83	0.29
Q3 2016	27.34	-	0.27	-	27.34	0.27
Q4 2016	27.05	-	0.27	-	27.05	0.27
2016	109.04	6.0 %	1.07	-	109.04	1.07
Q1 2017	21.45	(13.6 %)	0.21	-	21.45	0.21
Q2 2017	31.00	3.9 %	0.30	-	31.00	0.30
Q3 2017	26.04	(4.8 %)	0.26	-	26.04	0.26
Q4 2017	24.78	(8.4 %)	0.24	-	24.78	0.24
2017	103.25	(5.3 %)	1.01	-	103.25	1.01
Q1 2018	23.92	11.5 %	0.23	-	23.92	0.23
Q2 2018	22.58	(27.1 %)	0.22	-	22.58	0.22
Q3 2018	22.97	(11.8 %)	0.23	-	22.97	0.23
Q4 2018	(8.32)	(133.6 %)	(0.08)	-	(8.32)	(0.08)
2018	61.16	(40.8 %)	0.60	-	61.16	0.60
Q1 2019	3.60	(85.0 %)	0.04	-	3.60	0.04
Q2 2019	19.68	(12.9 %)	0.19	-	19.68	0.19
Q3 2019	24.76	7.8 %	0.24	-	24.76	0.24
Q4 2019	21.98	364.2 %	0.22	-	21.98	0.22
2019	70.01	14.5 %	0.69	-	70.01	0.69
Q1 2020	29.49	720.3 %	0.29	-	29.49	0.29
Q2 2020	23.80	20.9 %	0.23	-	23.80	0.23
Q3 2020	23.20	(6.3 %)	0.23	-	23.20	0.23
Q4 2020	22.41	2.0 %	0.22	-	22.41	0.22
2020	98.90	41.3 %	0.97	-	98.90	0.97
Q1 2021	25.20	(14.6 %)	0.25	-	25.20	0.25
Q2 2021	28.22	18.6 %	0.28	-	28.22	0.28
Q3 2021	29.50	27.2 %	0.29	-	29.50	0.29
Q4 2021	24.84	10.8 %	0.24	-	24.84	0.24
2021	107.75	9.0 %	1.06	-	107.75	1.06
Q1 2022	27.12	7.6 %	0.27	-	27.12	0.27
Q2 2022	28.56	1.2 %	0.28	-	28.56	0.28
Q3 2022	25.05	(15.1 %)	0.25	-	25.05	0.25
Q4 2022	15.99	(35.6 %)	0.16	-	15.99	0.16
2022	96.72	(10.2 %)	0.95	-	96.72	0.95
Q1 2023	11.04	(59.3 %)	0.11	-	11.04	0.11
Q2 2023	6.31	(77.9 %)	0.06	-	6.31	0.06

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2013	72.67	-	0.71	-	72.67	0.71
2014	84.73	16.6 %	0.83	-	84.73	0.83
2015	102.88	21.4 %	1.01	-	102.88	1.01
2016	109.04	6.0 %	1.07	-	109.04	1.07
2017	103.25	(5.3 %)	1.01	-	103.25	1.01
2018	61.16	(40.8 %)	0.60	-	61.16	0.60
2019	70.01	14.5 %	0.69	-	70.01	0.69
2020	98.90	41.3 %	0.97	-	98.90	0.97
2021	107.75	9.0 %	1.06	-	107.75	1.06
2022	96.72	(10.2 %)	0.95	-	96.72	0.95

Profitability

Period	Return On Average Assets	Return on Average Equity	Net Profit/Investment Income & Other Financing Operations
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
2014	3.84 %	8.25 %	51.88 %
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	3.69 %	9.65 %	49.11 %
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	41.88 %
2016	3.45 %	9.77 %	41.88 %
Q1 2017	3.27 %	9.30 %	39.66 %
Q2 2017	3.25 %	9.70 %	39.89 %
Q3 2017	3.20 %	9.36 %	39.72 %
Q4 2017	3.12 %	8.97 %	38.82 %
2017	3.12 %	8.97 %	38.82 %
Q1 2018	3.27 %	9.17 %	39.75 %
Q2 2018	3.03 %	8.72 %	37.16 %
Q3 2018	2.93 %	8.26 %	35.82 %
Q4 2018	1.86 %	5.33 %	22.89 %
2018	1.86 %	5.33 %	22.90 %
Q1 2019	1.27 %	3.58 %	15.16 %
Q2 2019	1.17 %	3.36 %	13.78 %
Q3 2019	1.26 %	3.55 %	13.52 %
Q4 2019	2.10 %	6.22 %	23.62 %
2019	2.10 %	6.22 %	23.62 %
Q1 2020	2.85 %	8.42 %	31.66 %
Q2 2020	2.83 %	8.65 %	32.56 %
Q3 2020	2.80 %	8.83 %	33.47 %
Q4 2020	2.83 %	8.70 %	35.48 %
2020	2.83 %	8.70 %	35.48 %
Q1 2021	2.64 %	8.15 %	34.35 %
Q2 2021	2.73 %	8.61 %	36.29 %
Q3 2021	2.78 %	9.21 %	38.46 %
Q4 2021	3.02 %	9.21 %	37.88 %
2021	3.01 %	9.21 %	37.88 %
Q1 2022	3.00 %	9.12 %	39.19 %
Q2 2022	3.18 %	9.49 %	39.42 %
Q3 2022	2.95 %	8.87 %	36.55 %
Q4 2022	2.74 %	7.97 %	33.18 %
2022	2.74 %	7.97 %	33.18 %
Q1 2023	2.28 %	6.53 %	27.52 %
Q2 2023	1.68 %	4.93 %	19.73 %

Period	Return On Average Assets	Return on Average Equity	Net Profit/Investment Income & Other Financing Operations
2013	-	-	58.02 %
2014	3.84 %	8.25 %	51.88 %
2015	3.69 %	9.65 %	49.11 %
2016	3.45 %	9.77 %	41.88 %
2017	3.12 %	8.97 %	38.82 %
2018	1.86 %	5.33 %	22.90 %
2019	2.10 %	6.22 %	23.62 %
2020	2.83 %	8.70 %	35.48 %
2021	3.01 %	9.21 %	37.88 %
2022	2.74 %	7.97 %	33.18 %

Balance Sheet (B)

Period	Assets	Change	Net Finance Investments	Change
Q1 2014	-	-	-	-
Q2 2014	-	-	-	-
Q3 2014	-	-	-	-
Q4 2014	-	-	-	-
Q1 2015	-	-	-	-
Q2 2015	-	-	-	-
Q3 2015	-	-	-	-
Q4 2015	-	-	-	-
Q1 2016	3.19	-	2.93	-
Q2 2016	3.29	-	3.01	-
Q3 2016	3.28	-	3.09	-
Q4 2016	3.29	-	3.03	-
Q1 2017	3.27	2.5 %	3.03	3.5 %
Q2 2017	3.28	(0.4 %)	3.03	0.9 %
Q3 2017	3.32	1.2 %	3.17	2.4 %
Q4 2017	3.33	1.1 %	3.12	3.0 %
Q1 2018	3.20	(2.1 %)	3.03	0.1 %
Q2 2018	3.13	(4.5 %)	2.91	(4.2 %)
Q3 2018	3.13	(5.8 %)	2.94	(7.1 %)
Q4 2018	3.26	(1.9 %)	3.09	(1.0 %)
Q1 2019	3.22	0.6 %	3.02	(0.3 %)
Q2 2019	3.33	6.2 %	3.08	6.0 %
Q3 2019	3.18	1.9 %	2.99	1.7 %
Q4 2019	3.41	4.3 %	3.20	3.5 %
Q1 2020	3.50	8.9 %	3.28	8.5 %
Q2 2020	3.75	12.7 %	3.50	13.6 %
Q3 2020	3.85	21.0 %	3.59	19.9 %
Q4 2020	3.58	5.1 %	3.35	4.8 %
Q1 2021	3.65	4.3 %	3.31	1.1 %
Q2 2021	3.51	(6.5 %)	3.29	(6.1 %)
Q3 2021	3.73	(3.2 %)	3.44	(4.1 %)
Q4 2021	3.57	(0.4 %)	3.41	1.7 %
Q1 2022	3.67	0.4 %	3.53	6.4 %
Q2 2022	3.41	(2.7 %)	3.29	0.1 %
Q3 2022	3.43	(8.0 %)	3.28	(4.6 %)
Q4 2022	3.49	(2.3 %)	3.28	(3.7 %)
Q1 2023	3.41	(7.1 %)	3.19	(9.6 %)
Q2 2023	3.55	4.2 %	3.34	1.4 %

Period	Assets	Change	Net Finance Investments	Change
3m 2014	-	-	-	-
6m 2014	-	-	-	-
9m 2014	-	-	-	-
12m 2014	2.55	37.1 %	2.26	35.6 %
3m 2015	-	-	-	-
6m 2015	-	-	-	-
9m 2015	-	-	-	-
12m 2015	3.03	18.8 %	2.77	22.7 %
3m 2016	3.19	-	2.93	-
6m 2016	3.29	-	3.01	-
9m 2016	3.28	-	3.09	-
12m 2016	3.29	8.5 %	3.03	9.4 %
3m 2017	3.27	2.5 %	3.03	3.5 %
6m 2017	3.28	(0.4 %)	3.03	0.9 %
9m 2017	3.32	1.2 %	3.17	2.4 %
12m 2017	3.33	1.1 %	3.12	3.0 %
3m 2018	3.20	(2.1 %)	3.03	0.1 %
6m 2018	3.13	(4.5 %)	2.91	(4.2 %)
9m 2018	3.13	(5.8 %)	2.94	(7.1 %)
12m 2018	3.26	(1.9 %)	3.09	(1.0 %)
3m 2019	3.22	0.6 %	3.02	(0.3 %)
6m 2019	3.33	6.2 %	3.08	6.0 %
9m 2019	3.18	1.9 %	2.99	1.7 %
12m 2019	3.41	4.3 %	3.20	3.5 %
3m 2020	3.50	8.9 %	3.28	8.5 %
6m 2020	3.75	12.7 %	3.50	13.6 %
9m 2020	3.85	21.0 %	3.59	19.9 %
12m 2020	3.58	5.1 %	3.35	4.8 %
3m 2021	3.65	4.3 %	3.31	1.1 %
6m 2021	3.51	(6.5 %)	3.29	(6.1 %)
9m 2021	3.73	(3.2 %)	3.44	(4.1 %)
12m 2021	3.57	(0.4 %)	3.41	1.7 %
3m 2022	3.67	0.4 %	3.53	6.4 %
6m 2022	3.41	(2.7 %)	3.29	0.1 %
9m 2022	3.43	(8.0 %)	3.28	(4.6 %)
12m 2022	3.49	(2.3 %)	3.28	(3.7 %)
3m 2023	3.41	(7.1 %)	3.19	(9.6 %)
6m 2023	3.55	4.2 %	3.34	1.4 %

Period	Assets	Change	Net Finance Investments	Change
2013	1.86	-	1.67	-
2014	2.55	37.1 %	2.26	35.6 %
2015	3.03	18.8 %	2.77	22.7 %
2016	3.29	8.5 %	3.03	9.4 %
2017	3.33	1.1 %	3.12	3.0 %
2018	3.26	(1.9 %)	3.09	(1.0 %)
2019	3.41	4.3 %	3.20	3.5 %
2020	3.58	5.1 %	3.35	4.8 %
2021	3.57	(0.4 %)	3.41	1.7 %
2022	3.49	(2.3 %)	3.28	(3.7 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2014	-	-	-	-
Q2 2014	-	-	-	-
Q3 2014	-	-	-	-
Q4 2014	-	-	-	-
Q1 2015	-	-	-	-
Q2 2015	-	-	-	-
Q3 2015	-	-	-	-
Q4 2015	-	-	-	-
Q1 2016	101.93	-	-	10.99
Q2 2016	101.93	-	-	10.63
Q3 2016	101.93	-	-	10.89
Q4 2016	101.93	1.07	1.07	11.12
Q1 2017	101.93	1.04	1.04	11.31
Q2 2017	101.93	1.05	1.05	10.98
Q3 2017	101.93	1.04	1.04	11.23
Q4 2017	101.93	1.01	1.01	11.47
Q1 2018	101.93	1.04	1.04	11.32
Q2 2018	101.93	0.95	0.95	10.91
Q3 2018	101.93	0.92	0.92	11.14
Q4 2018	101.93	0.60	0.60	11.06
Q1 2019	101.93	0.40	0.40	11.08
Q2 2019	101.93	0.37	0.37	11.24
Q3 2019	101.93	0.39	0.39	10.84
Q4 2019	101.93	0.69	0.69	11.04
Q1 2020	101.93	0.94	0.94	11.26
Q2 2020	101.93	0.98	0.98	11.46
Q3 2020	101.93	0.97	0.97	11.04
Q4 2020	101.93	0.97	0.97	11.27
Q1 2021	101.93	0.93	0.93	11.52
Q2 2021	101.93	0.97	0.97	11.11
Q3 2021	101.93	1.03	1.03	11.41
Q4 2021	101.93	1.06	1.06	11.69
Q1 2022	101.93	1.08	1.08	12.07
Q2 2022	101.93	1.08	1.08	11.65
Q3 2022	101.93	1.04	1.04	11.95
Q4 2022	101.93	0.95	0.95	12.12
Q1 2023	101.93	0.79	0.79	12.18
Q2 2023	101.93	0.57	0.57	11.60

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2013	101.93	0.71	0.71	10.00
2014	101.93	0.83	0.83	10.15
2015	101.93	1.01	1.01	10.77
2016	101.93	1.07	1.07	11.12
2017	101.93	1.01	1.01	11.47
2018	101.93	0.60	0.60	11.06
2019	101.93	0.69	0.69	11.04
2020	101.93	0.97	0.97	11.27
2021	101.93	1.06	1.06	11.69
2022	101.93	0.95	0.95	12.12

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
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	21.86	21.86	1.91
Q4 2020	20.04	20.04	1.73
Q1 2021	21.22	21.22	1.71
Q2 2021	20.49	20.49	1.79
Q3 2021	20.06	20.06	1.82
Q4 2021	17.77	17.77	1.61
Q1 2022	17.66	17.66	1.57
Q2 2022	14.74	14.74	1.37
Q3 2022	14.16	14.16	1.23
Q4 2022	13.98	13.98	1.09
Q1 2023	17.17	17.17	1.12
Q2 2023	24.31	24.31	1.20

Period	P/E	Adjusted P/E	Price/book
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	20.04	20.04	1.73
2021	17.77	17.77	1.61
2022	13.98	13.98	1.09

Financial Ratios

	Current
Market Cap (M)	1,251.64
Shares Outstanding ((M))	101.93
EPS ( Riyal) (TTM)	0.35
Book Value (BV) ( Riyal)	11.77
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	34.72
P/E (TTM)	34.72
Price/book	1.04
Return on Average Assets (%) (TTM)	0.9
Return on Average Equity (%) (TTM)	3.0

Amlak International Finance Co. (AMLAK)

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Amlak H1 net profit down 69% to SAR 17.4 mln; Q2 at SAR 6.3 mln

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Balance Sheet (B)

Balance Sheet Performance (B)

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Financial Ratios

Share Price

Amlak International Finance Co. (AMLAK)

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Amlak H1 net profit down 69% to SAR 17.4 mln; Q2 at SAR 6.3 mln

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Balance Sheet (B)

Balance Sheet Performance (B)

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Financial Ratios

Share Price

Amlak International Finance Co. (AMLAK)

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