Financial Results : ASG profits jump 34% to SAR 18.6M in H1 2024

ASG profits jump 34% to SAR 18.6M in H1 2024

20/08/2024 Argaam Exclusive

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ASG Plastic Factory Co. posted a 34% leap in the first-half net profits to SAR 18.6 million, from SAR 13.9 million in H1 2023.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 55.98 68.42 22.2 %
Gross Income 23.65 31.64 33.8 %
Operating Income 13.72 17.43 27.0 %
Net Income 13.91 18.62 33.9 %
Average Shares 6.30 6.30 -
EPS (Riyals) 2.21 2.96 33.9 %

The higher profit was spurred by a 22.22% year-on-year (YoY) rise in revenue from core business activities to SAR 68.42 million, thanks to better sales across all segments.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 55.98 68.42 22.2 %
Gross Income 23.65 31.64 33.8 %
Operating Income 13.72 17.43 27.0 %
Net Income 13.91 18.62 33.9 %
Average Shares 6.30 6.30 -
EPS (Riyals) 2.21 2.96 33.9 %

Total shareholders’ equity, no minority interest, increased to SAR 89.98 million as of June 30, 2024, from SAR 51.63 million in the year-earlier period.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 - - - - - -
H1 2023 55.98 - 23.65 - 13.72 -
H2 2023 51.40 - 19.84 - 8.22 -
H1 2024 68.42 22.2 % 31.64 33.8 % 17.43 27.0 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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 - - - - - -
H1 2023 13.91 - 2.21 - 13.91 2.21
H2 2023 8.60 - 1.37 - 8.60 1.37
H1 2024 18.62 33.9 % 2.96 - 18.62 2.96

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 - - -
H1 2023 - - -
H2 2023 40.50 % 25.34 % 20.97 %
H1 2024 42.96 % 26.17 % 22.73 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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 - - - -
H1 2023 6.30 - - 8.20
H2 2023 6.30 3.57 3.57 11.57
H1 2024 6.30 4.32 4.32 14.28

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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 - - -
H1 2023 - - -
H2 2023 - - -
H1 2024 - - -

Business Segments (Million)

Compared With The
Period Manufacturing sector (household tools) Manufacturing sector (Pipes and Hoses)
Q4 2022 13.53 5.62
Q2 2023 42.55 13.43
Q4 2023 37.74 13.66
Q2 2024 50.58 17.84


Financial Ratios
Current
Market Cap (M Riyal) 375.06
Enterprise Value (EV) (M) 366.30
Shares Outstanding ((M)) 7.05
Book Value (BV) ( Riyal) 11.57
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 16.66
Price/book 5.15
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Share Price

ASG Plastic Factory Co.
53.20
3.20 6.40 %

ASG Plastic Factory Co. (ASG)

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