Riyal profit slips 15% to SAR 19.1 mln in 2022

07/09/2023 Argaam Exclusive

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Riyal Investment & Development Co., slated to list on Nomu-Parallel Market, posted a SAR 19.1 million net profit for 2022, a decline of 15% from SAR 22.4 million in 2021, according to a statement to Tadawul.

Financials (M)

Item	2021	2022	Change‬
Revenues	103.40	189.58	83.3 %
Gross Income	36.96	40.36	9.2 %
Operating Income	27.29	29.54	8.2 %
Net Income	22.42	19.14	(14.6 %)
Average Shares	8.00	8.00	-
EPS (Riyals)	2.80	2.39	(14.6 %)

The year-on-year (YoY) profit slump was due to a drop in gross profit margin to 23% in 2022 from 36% in 2021, as well as the fall in operating profit margin from 26% in 2021 to 16% in 2022 amid a 120% YoY uptick in selling and distribution expenses. Besides, general and administrative expenses grew by 33% YoY.

Moreover, financing costs increased from SAR 6.3 million in 2021 to SAR 14.6 million last year.

Earnings tumbled YoY in 2022 despite revenues jumping to SAR 189.6 million, against SAR 103.4 million in the year before, as car sales revenues and rental income climbed to SAR 68 million and SAR 18 million, respectively.

Shareholders' equity (with no minority interest) amounted to SAR 133.62 million by the end of 2022, compared to SAR 114.43 million a year earlier.

The company’s 2022 earnings before interest, taxes, depreciation and amortization (EBITDA) stood at SAR 56.87 million, versus SAR 45.38 million in 2021.

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	-	-	-	-	-	-
H1 2020	-	-	-	-	-	-
H2 2020	-	-	-	-	-	-
2020	-	-	-	-	-	-
H1 2021	-	-	-	-	-	-
H2 2021	-	-	-	-	-	-
2021	103.40	-	36.96	-	27.29	-
H1 2022	-	-	-	-	-	-
H2 2022	-	-	-	-	-	-
2022	189.58	83.3 %	40.36	9.2 %	29.54	8.2 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	-	-	-	-	-	-
2020	-	-	-	-	-	-
2021	103.40	-	36.96	-	27.29	-
2022	189.58	83.3 %	40.36	9.2 %	29.54	8.2 %

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	-	-	-	-	-	-
H1 2020	-	-	-	-	-	-
H2 2020	-	-	-	-	-	-
2020	-	-	-	-	-	-
H1 2021	-	-	-	-	-	-
H2 2021	-	-	-	-	-	-
2021	22.42	-	2.80	-	22.42	2.80
H1 2022	-	-	-	-	-	-
H2 2022	-	-	-	-	-	-
2022	19.14	(14.6 %)	2.39	-	19.14	2.39

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	-	-	-	-	-	-
2020	-	-	-	-	-	-
2021	22.42	-	2.80	-	22.42	2.80
2022	19.14	(14.6 %)	2.39	-	19.14	2.39

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	-	-	-
H1 2020	-	-	-
H2 2020	-	-	-
2020	-	-	-
H1 2021	-	-	-
H2 2021	-	-	-
2021	35.74 %	43.89 %	21.69 %
H1 2022	-	-	-
H2 2022	-	-	-
2022	21.29 %	30.01 %	10.10 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	35.74 %	43.89 %	21.69 %
2022	21.29 %	30.01 %	10.10 %

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	-	-	-
H2 2020	-	-	-
H1 2021	-	-	-
H2 2021	-	-	-
H1 2022	-	-	-
H2 2022	-	-	-

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	-	-	-	-
H2 2020	-	-	-	-
H1 2021	-	-	-	-
H2 2021	-	-	-	-
H1 2022	-	-	-	-
H2 2022	-	-	-	-

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2013	-	-	-	-
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	-	-	-	-
2019	-	-	-	-
2020	-	-	-	-
2021	8.00	2.80	2.80	14.30
2022	8.00	2.39	2.39	16.70

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	-	-	-
H2 2022	-	-	-

Period	P/E	Adjusted P/E	Price/book
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-
2022	-	-	-

Business Segments (Million)

Compared With The

Period	Car sale	Car lease

Period	Car sale	Car lease
2021	39.82	63.58
2022	108.21	81.37

Financial Ratios

	Current
Market Cap (M Riyal)	208.80
Enterprise Value (EV) (M)	241.92
Shares Outstanding ((M))	8.00
Book Value (BV) ( Riyal)	18.96
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	11.42
Price/book	1.38

Riyal Investment and Development Co. (RIYAL)

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Riyal profit slips 15% to SAR 19.1 mln in 2022

View other reports

Financials (M)

Financial results (Million)

Profit Performance (Million)

Profitability

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Business Segments (Million)

Revenue by Business Segment (Latest) 2022 Q4

Financial Ratios

Share Price

Riyal Investment and Development Co. (RIYAL)

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Riyal profit slips 15% to SAR 19.1 mln in 2022

View other reports

Financials (M)

Financial results (Million)

Profit Performance (Million)

Profitability

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Business Segments (Million) 2022

Revenue by Business Segment (Latest) 2022 Q4

Financial Ratios

Share Price

Riyal Investment and Development Co. (RIYAL)

Comments {{getCommentCount()}}

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Business Segments (Million)