Almajed Oud profit rises 18% to SAR 119.5M in H1 2024; dips to SAR 55.5M in Q2

07/10/2024 Argaam Exclusive

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Almajed Oud Co., which started trading on the Saudi Exchange (Tadawul) today, Oct. 7, posted a net profit of SAR 119.5 million in H1 2024 compared to SAR 101 million in the prior-year period.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	423.81	513.12	21.1 %
Gross Income	278.52	344.90	23.8 %
Operating Income	109.03	127.35	16.8 %
Net Income	101.02	119.51	18.3 %
Average Shares	25.00	25.00	-
EPS (Riyals)	4.04	4.78	18.3 %

The rise in net profit came as sales grew year-on-year (YoY) driven by the increase in the number of stores and the Hajj season during the current period.

Net profit slumped 22% YoY to SAR 55.5 million in Q2 2024 due to an increase in operating expenses on new branch openings.

On a quarter-on-quarter (QoQ) basis, Almajed Oud’s net profit slipped 13.4% from SAR 64.03 in Q1 2024.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2023	Q2 2024	Change‬
Revenues	243.19	257.04	5.7 %
Gross Income	162.37	172.39	6.2 %
Operating Income	73.81	58.96	(20.1 %)
Net Income	70.99	55.47	(21.9 %)
Average Shares	25.00	25.00	-
EPS (Riyals)	2.84	2.22	(21.9 %)

Item	Q1 2024	Q2 2024	Change‬
Revenues	256.08	257.04	0.4 %
Gross Income	172.51	172.39	(0.1 %)
Operating Income	68.39	58.96	(13.8 %)
Net Income	64.03	55.47	(13.4 %)
Average Shares	25.00	25.00	-
EPS (Riyals)	2.56	2.22	(13.4 %)

Shareholders’ equity, no minority interest, amounted to SAR 372.4 million as of June 30, 2024, compared to SAR 411.9 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	-	-	-	-	-	-
Q1 2020	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	412.75	-	251.26	-	129.66	-
Q1 2021	-	-	-	-	-	-
Q2 2021	-	-	-	-	-	-
Q3 2021	-	-	-	-	-	-
Q4 2021	-	-	-	-	-	-
2021	442.47	7.2 %	273.00	8.7 %	109.40	(15.6 %)
Q1 2022	-	-	-	-	-	-
Q2 2022	-	-	-	-	-	-
Q3 2022	-	-	-	-	-	-
Q4 2022	-	-	-	-	-	-
2022	588.38	33.0 %	377.43	38.3 %	137.72	25.9 %
Q1 2023	180.62	-	116.15	-	35.22	-
Q2 2023	243.19	-	162.37	-	73.81	-
Q3 2023	120.99	-	87.88	-	16.02	-
Q4 2023	222.22	-	144.24	-	39.08	-
2023	767.02	30.4 %	510.64	35.3 %	164.13	19.2 %
Q1 2024	256.08	41.8 %	172.51	48.5 %	68.39	94.2 %
Q2 2024	257.04	5.7 %	172.39	6.2 %	58.96	(20.1 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	-	-	-	-	-	-
2020	412.75	-	251.26	-	129.66	-
2021	442.47	7.2 %	273.00	8.7 %	109.40	(15.6 %)
2022	588.38	33.0 %	377.43	38.3 %	137.72	25.9 %
2023	767.02	30.4 %	510.64	35.3 %	164.13	19.2 %

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	-	-	-	-	-	-
Q1 2020	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	123.85	-	4.95	-	123.85	4.95
Q1 2021	-	-	-	-	-	-
Q2 2021	-	-	-	-	-	-
Q3 2021	-	-	-	-	-	-
Q4 2021	-	-	-	-	-	-
2021	100.97	(18.5 %)	4.04	-	100.97	4.04
Q1 2022	-	-	-	-	-	-
Q2 2022	-	-	-	-	-	-
Q3 2022	-	-	-	-	-	-
Q4 2022	-	-	-	-	-	-
2022	125.35	24.1 %	5.01	-	125.35	5.01
Q1 2023	30.03	-	1.20	-	30.03	1.20
Q2 2023	70.99	-	2.84	-	70.99	2.84
Q3 2023	14.07	-	0.56	-	14.07	0.56
Q4 2023	33.58	-	1.34	(4.53)	38.11	1.52
2023	148.68	18.6 %	5.95	(4.53)	153.21	6.13
Q1 2024	64.03	113.2 %	2.56	-	64.03	2.56
Q2 2024	55.47	(21.9 %)	2.22	-	55.47	2.22

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	-	-	-	-	-	-
2020	123.85	-	4.95	-	123.85	4.95
2021	100.97	(18.5 %)	4.04	-	100.97	4.04
2022	125.35	24.1 %	5.01	-	125.35	5.01
2023	148.68	18.6 %	5.95	(4.53)	153.21	6.13

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	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
2020	60.87 %	42.78 %	30.01 %
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
2021	61.70 %	36.74 %	22.82 %
Q1 2022	-	-	-
Q2 2022	-	-	-
Q3 2022	-	-	-
Q4 2022	-	-	-
2022	64.15 %	37.80 %	21.30 %
Q1 2023	-	-	-
Q2 2023	-	-	-
Q3 2023	-	-	-
Q4 2023	66.57 %	35.28 %	19.97 %
2023	66.57 %	35.28 %	19.97 %
Q1 2024	67.30 %	35.99 %	22.22 %
Q2 2024	67.38 %	34.48 %	20.05 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	60.87 %	42.78 %	30.01 %
2021	61.70 %	36.74 %	22.82 %
2022	64.15 %	37.80 %	21.30 %
2023	66.57 %	35.28 %	19.97 %

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	-	-	-
Q2 2022	-	-	-
Q3 2022	-	-	-
Q4 2022	-	-	-
Q1 2023	64.30 %	35.44 %	16.63 %
Q2 2023	66.77 %	39.55 %	29.19 %
Q3 2023	72.63 %	35.33 %	11.63 %
Q4 2023	64.91 %	30.46 %	17.15 %
Q1 2024	67.37 %	37.73 %	25.00 %
Q2 2024	67.07 %	34.32 %	21.58 %

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	-	-	-	-
Q2 2022	-	-	-	-
Q3 2022	-	-	-	-
Q4 2022	-	-	-	-
Q1 2023	25.00	-	-	13.65
Q2 2023	25.00	-	-	16.48
Q3 2023	25.00	-	-	15.72
Q4 2023	25.00	5.95	6.13	15.09
Q1 2024	25.00	7.31	7.49	19.72
Q2 2024	25.00	6.69	6.87	14.90

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	-	-	-	-
2019	-	-	-	-
2020	25.00	4.95	4.95	12.29
2021	25.00	4.04	4.04	11.60
2022	25.00	5.01	5.01	12.71
2023	25.00	5.95	6.13	15.09

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	-	-	-

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	perfumes	Oud	incense	oils	gifts	others

Period	perfumes	Oud	incense	oils	gifts	others
2021	254.53	67.16	39.06	27.00	43.03	11.69
2022	369.65	86.10	50.97	33.18	29.65	18.83
2023	490.53	109.79	60.85	47.04	45.94	12.87

Financial Ratios

	Current
Market Cap (M Riyal)	3,645.00
Enterprise Value (EV) (M)	3,601.76
Shares Outstanding ((M))	25.00
EPS ( Riyal) (TTM)	7.02
Book Value (BV) ( Riyal)	17.77
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	20.25
P/E (TTM)	20.77
Price/book	8.20
Return on Average Assets (%) (TTM)	23.9
Return on Average Equity (%) (TTM)	41.9

Al Majed Oud Co. (ALMAJED OUD)

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Almajed Oud profit rises 18% to SAR 119.5M in H1 2024; dips to SAR 55.5M in Q2

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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)

Business Segments (Million)

Revenue by Business Segment (Latest) 2024 Q2

Financial Ratios

Share Price

Al Majed Oud Co. (ALMAJED OUD)

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Almajed Oud profit rises 18% to SAR 119.5M in H1 2024; dips to SAR 55.5M in Q2

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)

Business Segments (Million) 2023

Revenue by Business Segment (Latest) 2024 Q2

Financial Ratios

Share Price

Al Majed Oud Co. (ALMAJED OUD)

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Business Segments (Million)