Financial Results : Naas Petrol H1 2024 net profit rises 36% to SAR 5.1M

Naas Petrol H1 2024 net profit rises 36% to SAR 5.1M

28/08/2024 Argaam Exclusive

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Naas Petrol Factory Co. posted a SAR 5.1 million net profit for H1 2024, an increase of 36% from SAR 3.8 million a year ago.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 45.12 40.44 (10.4 %)
Gross Income 8.16 10.20 25.0 %
Operating Income 4.15 5.44 31.2 %
Net Income 3.74 5.07 35.8 %
Average Shares 3.00 3.00 -
EPS (Riyals) 1.25 1.69 35.8 %

The profit growth was driven by an annual decline in cost of sales by 18%, which led to higher gross profit. In addition, the company reported lower selling, distribution and Zakat expenses.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 45.12 40.44 (10.4 %)
Gross Income 8.16 10.20 25.0 %
Operating Income 4.15 5.44 31.2 %
Net Income 3.74 5.07 35.8 %
Average Shares 3.00 3.00 -
EPS (Riyals) 1.25 1.69 35.8 %

Shareholders equity, no minority interest, rose to SAR 56.11 million by the end of June 30, 2024, compared to SAR 45.97 million in the year-ago period.

 

Historical Data

Period

Revenues

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2023

45.12

3.74

1.25

H2 2023

46.24

4.96

1.65

H1 2024

40.44

5.07

1.69

 

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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 45.12 - 8.16 - 4.15 -
H2 2023 46.24 - 11.51 - 5.76 -
H1 2024 40.44 (10.4 %) 10.20 25.0 % 5.44 31.2 %


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 3.74 - 1.25 - 3.74 1.25
H2 2023 4.96 - 1.65 - 4.96 1.65
H1 2024 5.07 35.8 % 1.69 - 5.07 1.69

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 21.53 % 13.93 % 9.52 %
H1 2024 25.05 % 16.48 % 11.58 %


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 3.00 - - 15.33
H2 2023 3.00 2.90 2.90 17.01
H1 2024 3.00 3.35 3.35 18.71

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 Petrochemical weapons refining sector Other chemical products sector


Financial Ratios
Current
Market Cap (M Riyal) 201.90
Enterprise Value (EV) (M) 195.71
Shares Outstanding ((M)) 3.00
Book Value (BV) ( Riyal) 17.01
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 23.21
Price/book 3.96
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Share Price

Naas Petrol Factory Co.
67.30
3.80 5.98 %

Naas Petrol Factory Co. (NAAS PETROL)

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