TALCO H1 2024 profit up 10% to SAR 44M; Q2 at SAR 20.9M

05/08/2024 Argaam Exclusive

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Al Taiseer Group Talco Industrial Co. (TALCO) reported a 10% rise in H1 2024 net earnings to SAR 44 million, compared with SAR 39.8 million a year before.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	338.85	327.17	(3.4 %)
Gross Income	71.22	76.41	7.3 %
Operating Income	44.50	51.74	16.3 %
Net Income	39.84	43.97	10.4 %
Average Shares	40.00	40.00	-
EPS (Riyals)	1.00	1.10	10.4 %

The profit growth was driven by higher sales volume, a lower cost of sales, and an increase in other income. In addition, the company reported a decline in general and administrative expenses, as well as lower impairment losses on trade receivables.

However, sales value declined to SAR 327.2 million, compared to SAR 338.8 million a year earlier, due to lower sales volume of the main segment, aluminum, as well as a decrease in the cost of raw materials on lower selling prices of some materials.

Selling and distribution expenses, as well as Zakat charges, increased during the six-month period.

In Q2 2024, net earnings leapt 37% to SAR 20.9 million, compared with SAR 15.28 million a year earlier, driven mainly by higher sales value and revenues, as well as lower general and administrative expenses.

However, the company's second-quarter earnings fell 9.7% from SAR 23.10 million in Q1 2024.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2023	Q2 2024	Change‬
Revenues	156.47	164.80	5.3 %
Gross Income	31.47	37.94	20.5 %
Operating Income	17.42	25.22	44.8 %
Net Income	15.28	20.87	36.6 %
Average Shares	40.00	40.00	-
EPS (Riyals)	0.38	0.52	36.6 %

Item	Q1 2024	Q2 2024	Change‬
Revenues	162.37	164.80	1.5 %
Gross Income	38.47	37.94	(1.4 %)
Operating Income	26.52	25.22	(4.9 %)
Net Income	23.10	20.87	(9.6 %)
Average Shares	40.00	40.00	-
EPS (Riyals)	0.58	0.52	(9.6 %)

Total shareholders’ equity, no minority interest, grew to SAR 525.71 million as of June 30, 2024, from SAR 440.2 million a year earlier.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	334.13	-	54.03	-	31.11	-
Q1 2020	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	359.25	7.5 %	67.85	25.6 %	41.94	34.8 %
Q1 2021	-	-	-	-	-	-
Q2 2021	-	-	-	-	-	-
Q3 2021	-	-	-	-	-	-
Q4 2021	-	-	-	-	-	-
2021	518.54	44.3 %	93.85	38.3 %	63.31	51.0 %
Q1 2022	183.20	-	32.52	-	22.80	-
Q2 2022	194.68	-	26.57	-	14.34	-
Q3 2022	-	-	-	-	-	-
Q4 2022	-	-	-	-	-	-
2022	749.87	44.6 %	127.31	35.6 %	82.13	29.7 %
Q1 2023	182.38	(0.4 %)	39.75	22.2 %	27.08	18.8 %
Q2 2023	156.47	(19.6 %)	31.47	18.5 %	17.42	21.5 %
Q3 2023	159.31	-	33.93	-	22.35	-
Q4 2023	173.20	-	35.48	-	20.48	-
2023	671.35	(10.5 %)	140.63	10.5 %	87.34	6.3 %
Q1 2024	162.37	(11.0 %)	38.47	(3.2 %)	26.52	(2.1 %)
Q2 2024	164.80	5.3 %	37.94	20.5 %	25.22	44.8 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	334.13	-	54.03	-	31.11	-
2020	359.25	7.5 %	67.85	25.6 %	41.94	34.8 %
2021	518.54	44.3 %	93.85	38.3 %	63.31	51.0 %
2022	749.87	44.6 %	127.31	35.6 %	82.13	29.7 %
2023	671.35	(10.5 %)	140.63	10.5 %	87.34	6.3 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	25.81	-	0.65	-	25.81	0.65
Q1 2020	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	35.54	37.7 %	0.89	-	35.54	0.89
Q1 2021	-	-	-	-	-	-
Q2 2021	-	-	-	-	-	-
Q3 2021	-	-	-	-	-	-
Q4 2021	-	-	-	-	-	-
2021	56.62	59.3 %	1.42	-	56.62	1.42
Q1 2022	21.10	-	0.53	-	21.10	0.53
Q2 2022	12.74	-	0.32	-	12.74	0.32
Q3 2022	-	-	-	-	-	-
Q4 2022	-	-	-	-	-	-
2022	74.70	31.9 %	1.87	-	74.70	1.87
Q1 2023	24.56	16.4 %	0.61	-	24.56	0.61
Q2 2023	15.28	19.9 %	0.38	-	15.28	0.38
Q3 2023	18.85	-	0.47	-	18.85	0.47
Q4 2023	21.44	-	0.54	-	21.44	0.54
2023	80.13	7.3 %	2.00	-	80.13	2.00
Q1 2024	23.10	(5.9 %)	0.58	-	23.10	0.58
Q2 2024	20.87	36.6 %	0.52	-	20.87	0.52

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	25.81	-	0.65	-	25.81	0.65
2020	35.54	37.7 %	0.89	-	35.54	0.89
2021	56.62	59.3 %	1.42	-	56.62	1.42
2022	74.70	31.9 %	1.87	-	74.70	1.87
2023	80.13	7.3 %	2.00	-	80.13	2.00

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
2019	16.17 %	14.34 %	7.72 %
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
2020	18.89 %	16.33 %	9.89 %
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
2021	18.10 %	15.77 %	10.92 %
Q1 2022	-	-	-
Q2 2022	-	-	-
Q3 2022	-	-	-
Q4 2022	-	-	-
2022	16.98 %	13.87 %	9.96 %
Q1 2023	-	-	-
Q2 2023	-	-	-
Q3 2023	-	-	-
Q4 2023	20.95 %	14.68 %	11.94 %
2023	20.95 %	16.39 %	11.94 %
Q1 2024	21.39 %	-	12.08 %
Q2 2024	22.10 %	-	12.77 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	16.17 %	14.34 %	7.72 %
2020	18.89 %	16.33 %	9.89 %
2021	18.10 %	15.77 %	10.92 %
2022	16.98 %	13.87 %	9.96 %
2023	20.95 %	16.39 %	11.94 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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	-	-	-
Q4 2020	-	-	-
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
Q1 2022	17.75 %	-	11.52 %
Q2 2022	13.65 %	-	6.55 %
Q3 2022	-	-	-
Q4 2022	-	-	-
Q1 2023	21.79 %	-	13.46 %
Q2 2023	20.11 %	-	9.77 %
Q3 2023	21.30 %	17.60 %	11.83 %
Q4 2023	20.48 %	15.03 %	12.38 %
Q1 2024	23.69 %	-	14.23 %
Q2 2024	23.02 %	-	12.67 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
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	-	-	-	-
Q4 2020	-	-	-	-
Q1 2021	-	-	-	-
Q2 2021	-	-	-	-
Q3 2021	-	-	-	-
Q4 2021	-	-	-	-
Q1 2022	40.00	-	-	-
Q2 2022	40.00	-	-	10.22
Q3 2022	-	-	-	-
Q4 2022	-	-	-	-
Q1 2023	40.00	-	-	-
Q2 2023	40.00	-	-	11.01
Q3 2023	40.00	-	-	11.49
Q4 2023	40.00	2.00	2.00	12.09
Q1 2024	40.00	1.97	1.97	-
Q2 2024	40.00	2.11	2.11	13.14

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	-	-	-	-
2019	40.00	0.65	0.65	8.51
2020	40.00	0.89	0.89	6.81
2021	40.00	1.42	1.42	9.81
2022	40.00	1.87	1.87	11.12
2023	40.00	2.00	2.00	12.09

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
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	-	-	-
Q4 2020	-	-	-
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
Q1 2022	-	-	-
Q2 2022	-	-	-
Q3 2022	-	-	-
Q4 2022	-	-	-
Q1 2023	-	-	-
Q2 2023	-	-	-
Q3 2023	-	-	-
Q4 2023	-	-	-
Q1 2024	-	-	-
Q2 2024	27.34	27.34	4.38

Period	P/E	Adjusted P/E	Price/book
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-
2022	-	-	-
2023	-	-	-

Business Segments (Million)

Compared With The

Period	Forming and selling aluminum	Thermoset powder coating	Aluminum accessories	Overlapping transactions and balances
Q3 2023	138.44	15.75	10.25	(5.13)

Period	Forming and selling aluminum	Thermoset powder coating	Aluminum accessories	Overlapping transactions and balances
2021	481.33	27.87	17.00	(7.65)
2022	652.00	54.64	43.23	-
2023	582.74	50.70	37.92	-

Financial Ratios

	Current
Market Cap (M Riyal)	2,280.00
Enterprise Value (EV) (M)	2,154.76
Shares Outstanding ((M))	40.00
EPS ( Riyal) (TTM)	2.05
Book Value (BV) ( Riyal)	13.59
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	27.74
P/E (TTM)	27.74
Price/book	4.19
Return on Average Assets (%) (TTM)	-
Return on Average Equity (%) (TTM)	16.4

Al Taiseer Group Talco Industrial Co. (TALCO)

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TALCO H1 2024 profit up 10% to SAR 44M; Q2 at SAR 20.9M

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2024 Q2

Financial Ratios

Share Price

Al Taiseer Group Talco Industrial Co. (TALCO)

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TALCO H1 2024 profit up 10% to SAR 44M; Q2 at SAR 20.9M

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q3 2023

Revenue by Business Segment (Latest) 2024 Q2

Financial Ratios

Share Price

Al Taiseer Group Talco Industrial Co. (TALCO)

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Business Segments (Million)