Financial Results : Munawla Cargo’s net profit up 27% to SAR 9.7 mln in 2022

Munawla Cargo’s net profit up 27% to SAR 9.7 mln in 2022

31/07/2023 Argaam Exclusive

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Munawla Cargo Co. reported a net profit of SAR 9.7 million in 2022, an increase of 27% year-on-year (YoY) from SAR 7.6 million in a year earlier period.



Financials (M)

Item 2021 2022 Change‬
Revenues 131.76 138.91 5.4 %
Gross Income 25.13 24.77 (1.4 %)
Operating Income 8.25 10.09 22.4 %
Net Income 7.58 9.66 27.5 %
Average Shares 2.00 2.00 -
Earnings Per Share before unusual items (Riyals) 3.79 4.83 27.5 %
EPS (Riyals) 3.79 4.83 27.5 %

This was driven by a 5.42% year-on-year (YoY) jump in revenue to SAR 139 million, a YoY hike of 19% in gross profit margins and increased other revenue. This came despite higher financing costs as well as operating, administrative and general expenses. 



Current Half Annual Comparison (M)

Compared With The
Item H2 2021 H2 2022 Change‬
Revenues 74.47 71.41 (4.1 %)
Gross Income 14.37 13.22 (8.0 %)
Operating Income 4.95 8.22 66.0 %
Net Income 4.25 7.52 77.0 %
Average Shares 2.00 2.00 -
Earnings Per Share before unusual items (Riyals) 2.12 3.76 77.0 %
EPS (Riyals) 2.12 3.76 77.0 %

Shareholders’ equity, no minority interest, reached SAR 32.95 million by the end of 2022, compared to SAR 25.36 million the year before. 

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 57.29 - 10.76 - 3.30 -
H2 2021 74.47 - 14.37 - 4.95 -
H1 2022 67.50 17.8 % 11.55 7.4 % 1.88 (43.0 %)
H2 2022 71.41 (4.1 %) 13.22 (8.0 %) 8.22 66.0 %
2022 138.91 5.4 % 24.77 (1.4 %) 10.09 22.4 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items Earnings Per Share 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 3.33 - 1.67 - 3.33 1.67
H2 2021 4.25 - 2.12 - 4.25 2.12
H1 2022 2.14 (35.7 %) 1.07 - 2.14 1.07
H2 2022 7.52 77.0 % 3.76 - 7.52 3.76
2022 9.66 27.5 % 4.83 - 9.66 4.83

Profitability

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 19.07 % 8.03 % 5.75 %
H1 2022 18.26 % 6.51 % 4.50 %
H2 2022 17.83 % 9.04 % 6.95 %
2022 17.83 % 9.04 % 6.95 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (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 2.00 - - 12.52
H2 2021 2.00 3.79 3.79 12.70
H1 2022 2.00 3.19 3.19 13.57
H2 2022 2.00 4.83 4.83 16.47

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 - - -

Business Segments (Million)

Compared With The
Period Sea freight Air freight Road transport Logistical business
Q2 2021 23.15 18.57 13.01 2.56
Q4 2021 37.19 20.82 14.85 1.61
Q2 2022 23.72 23.76 18.11 1.91
Q4 2022 34.12 20.11 13.68 3.49


Share Price

Munawla Cargo Co.
66.00
1.30 2.01 %

Munawla Cargo Co. (MUNAWLA)

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