Clean Life profits rise 33% to SAR 8.3 mln in 2022
22/08/2023
Argaam Exclusive
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Clean Life Co. reported a net profit of SAR 8.3 million by the end of 2022, a 33% increase from SAR 6.3 million in 2021.
Financials (M)
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 20.96 | 33.21 | 58.4 % |
| Gross Income | 12.51 | 24.09 | 92.6 % |
| Operating Income | 6.51 | 8.34 | 28.1 % |
| Net Income | 6.26 | 8.27 | 32.2 % |
| Average Shares | 0.50 | 1.50 | - |
| EPS (Riyals) | 12.51 | 5.51 | (55.9 %) |
Compared With The
Current Half Annual Comparison (M)
| Item | H2 2021 | H2 2022 | Change |
|---|
The increase in profit was driven by a rise in revenues to SAR 33.2 million from SAR 21 million in 2021.
The company realized profits of SAR 388,000 from the sale of property, machinery, and equipment in 2022, compared to zero sales in the previous year.
This came despite an increase of 81% in general and administrative expenses and a rise in financing costs to SAR 203,000 from SAR 60,000 in 2021.
Total shareholders’ equity, no minority interest, jumped to SAR 18.93 million as of Dec. 31, 2022, from SAR 5.52 million a year earlier.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2022 | 15.25 | - | 11.56 | - | 4.35 | - |
| H2 2022 | 17.96 | - | 12.53 | - | 3.99 | - |
| 2022 | 33.21 | 58.4 % | 24.09 | 92.6 % | 8.34 | 28.1 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2022 | 4.08 | - | 2.72 | - | 4.08 | 2.72 |
| H2 2022 | 4.19 | - | 2.79 | - | 4.19 | 2.79 |
| 2022 | 8.27 | 32.2 % | 5.51 | - | 8.27 | 5.51 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2022 | - | - | - |
| H2 2022 | 72.54 % | 30.55 % | 24.91 % |
| 2022 | 72.54 % | 30.55 % | 24.91 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2022 | 1.50 | - | - | 9.83 |
| H2 2022 | 1.50 | 5.51 | 5.51 | 12.56 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2022 | - | - | - |
| H2 2022 | - | - | - |
Business Segments (Million)
2022
| Period | Move-in cleaning | Furniture and upholstery cleaning |
|---|
| Current | |
| Market Cap (M Riyal) | 162.30 |
| Enterprise Value (EV) (M) | 153.36 |
| Shares Outstanding ((M)) | 1.50 |
| Book Value (BV) ( Riyal) | 13.70 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 17.63 |
| Price/book | 7.90 |
Share Price
Clean Life Co. (CLEAN LIFE)
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