Financial Results : Leaf’s net profit jumps 50% to SAR 10.8M in H1 2024

Leaf’s net profit jumps 50% to SAR 10.8M in H1 2024

01/09/2024 Argaam Exclusive

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Leaf Global Environmental Services Co. reported a profit leap of 50% to SAR 10.8 million in the first half of 2024, compared to SAR 7.2 million in the year-earlier period.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 21.83 25.19 15.4 %
Gross Income 12.65 11.11 (12.1 %)
Operating Income 7.58 5.59 (26.3 %)
Net Income 7.25 10.84 49.5 %
Average Shares 5.00 5.00 -
EPS (Riyals) 1.45 2.17 49.5 %

The profit growth was propelled by a year-on-year (YoY) rise in revenue, due to the company’s expansion in specialized services.

 

The company specialized in the fields of mangrove regeneration and coral regeneration, which is reflected on the current demand within the major projects being executed in the Kingdom.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 21.83 25.19 15.4 %
Gross Income 12.65 11.11 (12.1 %)
Operating Income 7.58 5.59 (26.3 %)
Net Income 7.25 10.84 49.5 %
Average Shares 5.00 5.00 -
EPS (Riyals) 1.45 2.17 49.5 %

Shareholders’ equity, no minority interest, stood at SAR 35.93 million as of June 30, 2024, compared to SAR 26.71 million a year earlier.

 

Historical Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2023

21.83

7.25

1.45

H2 2023

22.6

8.45

1.69

H1 2024

25.19

10.84

2.17

 

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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 21.83 - 12.65 - 7.58 -
H2 2023 22.60 - 12.22 - 8.79 -
H1 2024 25.19 15.4 % 11.11 (12.1 %) 5.59 (26.3 %)


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 7.25 - 1.45 - 7.25 1.45
H2 2023 8.45 - 1.69 - 8.45 1.69
H1 2024 10.84 49.5 % 2.17 - 10.84 2.17

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 55.97 % 38.53 % 35.34 %
H1 2024 48.82 % 32.10 % 40.36 %


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 5.00 - - 5.34
H2 2023 5.00 3.14 3.14 7.02
H1 2024 5.00 3.86 3.86 7.19

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 12.70 12.70 6.82

Business Segments (Million)

Compared With The
Period Environmental services Transplanting mangroves Coral reef development
Q2 2023 15.72 2.76 3.35
Q4 2023 19.07 2.33 1.20
Q2 2024 17.00 7.19 1.00


Financial Ratios
Current
Market Cap (M Riyal) 494.00
Enterprise Value (EV) (M) 488.00
Shares Outstanding ((M)) 5.00
Book Value (BV) ( Riyal) 7.02
Par Value ( Riyal) 5.00
Adjusted P/E (Last12) 31.46
Price/book 14.08
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Share Price

Leaf Global Environmental Services Co.
98.80
(7.20) (6.79 %)

Leaf Global Environmental Services Co. (LEAF)

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