Red Sea narrows 2023 loss to SAR 35.1M; Q4 profit at SAR 17.5M

28/03/2024 Argaam Exclusive

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Red Sea International (RSI) narrowed its 2023 loss to SAR 35.1 million from SAR 196.1 million a year earlier.

Financials (M)

Item	2022	2023	Change‬
Revenues	404.21	1,378.49	241.0 %
Gross Income	(56.60)	114.29	301.9 %
Operating Income	(186.07)	36.33	119.5 %
Net Income	(196.13)	(35.13)	82.1 %
Average Shares	30.23	30.23	-
EPS (Riyals)	(6.49)	(1.16)	82.1 %

The loss per share, after minority interest, stood at SAR 1.16 in 2023, compared to SAR 6.49 a year earlier.

The annual earnings were lifted by a 241% surge year-on-year (YoY) in revenue to SAR 1.37 billion.

Revenue from general construction amounted to SAR 869 million in 2023, driven by the company’s acquisition of a 51% stake in First Fix in Q4 2023.

Revenue from sale of buildings increased by 49% from SAR 240 million to reach SAR 358 million in 2023.

Rental revenue from investment properties saw a decline of 8% YoY in 2023 from SAR 165 million to SAR 151 million.

Gross profit reached SAR 114 million in 2023, against a gross loss of SAR 57 million a year earlier, thanks to the company’s cost efficiency measures.

Red Sea recorded an operating profit of SAR 36 million versus an operating loss of SAR 186 million in 2022.

The company posted a net profit of SAR 17.5 million for Q4 2023, against a net loss of SAR 73.59 million a year earlier.

Compared with the previous quarter, the firm turned profitable from a loss of SAR 14.96 million in Q3 2023.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2022	Q4 2023	Change‬
Revenues	135.00	-	-
Gross Income	6.54	-	-
Operating Income	(66.82)	-	-
Net Income	(73.59)	-	-
Average Shares	30.23	-	-
EPS (Riyals)	(2.43)	-	-

Total shareholders’ equity, after minority interest, dropped to SAR 83.72 million as of Dec. 31, 2023, from SAR 118.11 million a year earlier.

Accumulated losses came in at SAR 206.85 million by the end of the 12-month period, representing 68.4% of the company’s capital.

Attached Document:

View more financial results

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2014	268.97	30.9 %	72.41	34.9 %	46.09	35.6 %
Q2 2014	267.63	19.8 %	67.50	22.7 %	41.59	17.7 %
Q3 2014	283.60	4.4 %	75.60	(5.8 %)	45.67	(1.9 %)
Q4 2014	284.75	5.1 %	79.64	(8.7 %)	40.02	(21.1 %)
2014	1,104.95	13.7 %	295.15	6.8 %	173.36	4.0 %
Q1 2015	275.44	2.4 %	67.16	(7.3 %)	34.43	(25.3 %)
Q2 2015	237.15	(11.4 %)	58.82	(12.9 %)	22.53	(45.8 %)
Q3 2015	228.40	(19.5 %)	48.40	(36.0 %)	7.35	(83.9 %)
Q4 2015	286.90	0.8 %	80.13	0.6 %	33.62	(16.0 %)
2015	1,027.89	(7.0 %)	256.80	(13.0 %)	96.39	(44.4 %)
Q1 2016	271.78	(1.3 %)	74.95	11.6 %	39.13	13.6 %
Q2 2016	267.32	12.7 %	70.01	19.0 %	38.96	73.0 %
Q3 2016	251.25	10.0 %	60.44	24.9 %	22.29	203.4 %
Q4 2016	240.07	(16.3 %)	57.94	(27.7 %)	20.63	(38.6 %)
2016	1,030.42	0.2 %	263.34	2.5 %	121.01	25.5 %
Q1 2017	227.33	(16.4 %)	45.28	(39.6 %)	14.90	(61.9 %)
Q2 2017	198.79	(25.6 %)	29.52	(57.8 %)	(3.34)	(108.6 %)
Q3 2017	186.23	(25.9 %)	23.47	(61.2 %)	(7.72)	(134.6 %)
Q4 2017	160.77	(33.0 %)	(23.12)	(139.9 %)	(51.35)	(348.9 %)
2017	773.12	(25.0 %)	75.15	(71.5 %)	(47.51)	(139.3 %)
Q1 2018	147.68	(35.0 %)	10.57	(76.6 %)	(12.95)	(186.9 %)
Q2 2018	201.18	1.2 %	19.38	(34.4 %)	(3.40)	(1.8 %)
Q3 2018	188.50	1.2 %	15.75	(32.9 %)	(7.37)	4.4 %
Q4 2018	121.26	(24.6 %)	32.06	238.7 %	(2.77)	94.6 %
2018	658.62	(14.8 %)	79.73	6.1 %	(26.50)	44.2 %
Q1 2019	119.24	(19.3 %)	7.01	(33.7 %)	(14.72)	(13.7 %)
Q2 2019	123.33	(38.7 %)	0.00	(100.0 %)	(22.33)	(556.9 %)
Q3 2019	141.15	(25.1 %)	2.73	(82.7 %)	(21.40)	(190.2 %)
Q4 2019	222.34	83.4 %	30.98	(3.4 %)	7.46	369.0 %
2019	606.07	(8.0 %)	40.71	(48.9 %)	(50.99)	(92.4 %)
Q1 2020	155.47	30.4 %	6.14	(12.4 %)	(20.45)	(38.9 %)
Q2 2020	128.81	4.4 %	0.40	13366.7 %	(25.31)	(13.4 %)
Q3 2020	114.00	(19.2 %)	(23.32)	(955.9 %)	(41.51)	(94.0 %)
Q4 2020	135.25	(39.2 %)	(11.56)	(137.3 %)	(51.28)	(787.5 %)
2020	533.52	(12.0 %)	(28.35)	(169.6 %)	(138.55)	(171.7 %)
Q1 2021	108.36	(30.3 %)	(8.82)	(243.7 %)	(28.64)	(40.1 %)
Q2 2021	127.66	(0.9 %)	(6.32)	(1688.2 %)	(26.17)	(3.4 %)
Q3 2021	119.34	4.7 %	(8.63)	63.0 %	(27.77)	33.1 %
Q4 2021	112.84	(16.6 %)	(4.57)	60.4 %	(26.80)	47.7 %
2021	468.20	(12.2 %)	(28.34)	0.0 %	(109.38)	21.1 %
Q1 2022	117.23	8.2 %	(3.94)	55.3 %	(21.54)	24.8 %
Q2 2022	62.57	(51.0 %)	(26.93)	(326.1 %)	(46.45)	(77.5 %)
Q3 2022	89.41	(25.1 %)	(32.26)	(273.7 %)	(51.27)	(84.6 %)
Q4 2022	135.00	19.6 %	6.54	243.0 %	(66.82)	(149.3 %)
2022	404.21	(13.7 %)	(56.60)	(99.7 %)	(186.07)	(70.1 %)
Q1 2023	-	-	-	-	-	-
Q2 2023	-	-	-	-	-	-
Q3 2023	-	-	-	-	-	-
Q4 2023	-	-	-	-	-	-
2023	1,378.49	241.0 %	114.29	301.9 %	36.33	119.5 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	1,104.95	13.7 %	295.15	6.8 %	173.36	4.0 %
2015	1,027.89	(7.0 %)	256.80	(13.0 %)	96.39	(44.4 %)
2016	1,030.42	0.2 %	263.34	2.5 %	121.01	25.5 %
2017	773.12	(25.0 %)	75.15	(71.5 %)	(47.51)	(139.3 %)
2018	658.62	(14.8 %)	79.73	6.1 %	(26.50)	44.2 %
2019	606.07	(8.0 %)	40.71	(48.9 %)	(50.99)	(92.4 %)
2020	533.52	(12.0 %)	(28.35)	(169.6 %)	(138.55)	(171.7 %)
2021	468.20	(12.2 %)	(28.34)	0.0 %	(109.38)	21.1 %
2022	404.21	(13.7 %)	(56.60)	(99.7 %)	(186.07)	(70.1 %)
2023	1,378.49	241.0 %	114.29	301.9 %	36.33	119.5 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2014	43.52	37.2 %	1.44	-	43.52	1.44
Q2 2014	40.78	23.1 %	1.35	-	40.78	1.35
Q3 2014	43.12	(2.9 %)	1.43	-	43.12	1.43
Q4 2014	29.27	(32.7 %)	0.97	-	29.27	0.97
2014	156.69	2.6 %	5.18	-	156.69	5.18
Q1 2015	30.04	(31.0 %)	0.99	-	30.04	0.99
Q2 2015	17.02	(58.3 %)	0.56	-	17.02	0.56
Q3 2015	1.95	(95.5 %)	0.06	-	1.95	0.06
Q4 2015	27.10	(7.4 %)	0.90	-	27.10	0.90
2015	76.10	(51.4 %)	2.52	-	76.10	2.52
Q1 2016	31.77	5.8 %	1.05	-	31.77	1.05
Q2 2016	31.16	83.1 %	1.03	-	31.16	1.03
Q3 2016	10.50	439.6 %	0.35	-	10.50	0.35
Q4 2016	16.91	(37.6 %)	0.56	-	16.91	0.56
2016	90.34	18.7 %	2.99	-	90.34	2.99
Q1 2017	8.70	(72.6 %)	0.29	-	8.70	0.29
Q2 2017	(5.57)	(117.9 %)	(0.18)	-	(5.57)	(0.18)
Q3 2017	(12.66)	(220.6 %)	(0.42)	-	(12.66)	(0.42)
Q4 2017	(55.77)	(429.8 %)	(1.84)	-	(55.77)	(1.84)
2017	(65.30)	(172.3 %)	(2.16)	-	(65.30)	(2.16)
Q1 2018	(15.42)	(277.1 %)	(0.51)	-	(15.42)	(0.51)
Q2 2018	(9.82)	(76.1 %)	(0.32)	-	(9.82)	(0.32)
Q3 2018	(13.78)	(8.8 %)	(0.46)	-	(13.78)	(0.46)
Q4 2018	(46.73)	16.2 %	(1.55)	(11.80)	(34.93)	(1.16)
2018	(85.74)	(31.3 %)	(2.84)	(11.80)	(73.94)	(2.45)
Q1 2019	(17.97)	(16.6 %)	(0.59)	-	(17.97)	(0.59)
Q2 2019	(27.53)	(180.4 %)	(0.91)	-	(27.53)	(0.91)
Q3 2019	(27.89)	(102.4 %)	(0.92)	-	(27.89)	(0.92)
Q4 2019	(1.47)	96.9 %	(0.05)	(4.96)	3.49	0.12
2019	(74.85)	12.7 %	(2.48)	(4.96)	(69.89)	(2.31)
Q1 2020	(25.13)	(39.9 %)	(0.83)	-	(25.13)	(0.83)
Q2 2020	(27.31)	0.8 %	(0.90)	-	(27.31)	(0.90)
Q3 2020	(44.83)	(60.7 %)	(1.48)	-	(44.83)	(1.48)
Q4 2020	(61.05)	(4,053.2 %)	(2.02)	-	(61.05)	(2.02)
2020	(158.32)	(111.5 %)	(5.24)	-	(158.32)	(5.24)
Q1 2021	(32.66)	(29.9 %)	(1.08)	-	(32.66)	(1.08)
Q2 2021	(29.43)	(7.7 %)	(0.97)	-	(29.43)	(0.97)
Q3 2021	(31.19)	30.4 %	(1.03)	-	(31.19)	(1.03)
Q4 2021	(37.17)	39.1 %	(1.23)	-	(37.17)	(1.23)
2021	(130.44)	17.6 %	(4.31)	-	(130.44)	(4.31)
Q1 2022	(18.82)	42.4 %	(0.62)	-	(18.82)	(0.62)
Q2 2022	(47.71)	(62.1 %)	(1.58)	-	(47.71)	(1.58)
Q3 2022	(56.01)	(79.6 %)	(1.85)	-	(56.01)	(1.85)
Q4 2022	(73.59)	(98.0 %)	(2.43)	(7.31)	(66.28)	(2.19)
2022	(196.13)	(50.4 %)	(6.49)	(7.31)	(188.83)	(6.25)
Q1 2023	-	-	-	-	-	-
Q2 2023	-	-	-	-	-	-
Q3 2023	-	-	-	-	-	-
Q4 2023	-	-	-	-	-	-
2023	(35.13)	82.1 %	(1.16)	5.52	(40.65)	(1.34)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	156.69	2.6 %	5.18	-	156.69	5.18
2015	76.10	(51.4 %)	2.52	-	76.10	2.52
2016	90.34	18.7 %	2.99	-	90.34	2.99
2017	(65.30)	(172.3 %)	(2.16)	-	(65.30)	(2.16)
2018	(85.74)	(31.3 %)	(2.84)	(11.80)	(73.94)	(2.45)
2019	(74.85)	12.7 %	(2.48)	(4.96)	(69.89)	(2.31)
2020	(158.32)	(111.5 %)	(5.24)	-	(158.32)	(5.24)
2021	(130.44)	17.6 %	(4.31)	-	(130.44)	(4.31)
2022	(196.13)	(50.4 %)	(6.49)	(7.31)	(188.83)	(6.25)
2023	(35.13)	82.1 %	(1.16)	5.52	(40.65)	(1.34)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	28.50 %	24.75 %	15.90 %
Q2 2014	28.49 %	25.28 %	15.96 %
Q3 2014	27.75 %	26.09 %	15.67 %
Q4 2014	26.71 %	26.19 %	14.18 %
2014	26.71 %	26.19 %	14.18 %
Q1 2015	26.08 %	25.83 %	12.89 %
Q2 2015	26.02 %	24.40 %	11.05 %
Q3 2015	24.76 %	21.56 %	7.63 %
Q4 2015	24.76 %	20.33 %	7.40 %
2015	24.98 %	20.18 %	7.40 %
Q1 2016	25.61 %	20.64 %	7.60 %
Q2 2016	25.94 %	21.75 %	8.72 %
Q3 2016	26.51 %	22.60 %	9.33 %
Q4 2016	25.56 %	22.50 %	8.77 %
2016	25.56 %	22.50 %	8.77 %
Q1 2017	23.70 %	21.09 %	6.82 %
Q2 2017	21.06 %	18.07 %	3.33 %
Q3 2017	18.33 %	15.29 %	0.87 %
Q4 2017	9.72 %	7.52 %	(8.45 %)
2017	9.72 %	7.52 %	(8.45 %)
Q1 2018	5.83 %	3.96 %	(12.89 %)
Q2 2018	4.35 %	3.42 %	(13.46 %)
Q3 2018	3.24 %	3.51 %	(13.58 %)
Q4 2018	11.81 %	9.95 %	(11.23 %)
2018	12.11 %	9.95 %	(11.23 %)
Q1 2019	11.77 %	10.01 %	(12.14 %)
Q2 2019	9.93 %	8.31 %	(17.05 %)
Q3 2019	8.28 %	6.69 %	(21.45 %)
Q4 2019	6.72 %	7.16 %	(11.53 %)
2019	6.72 %	7.16 %	(11.53 %)
Q1 2020	6.20 %	5.40 %	(12.00 %)
Q2 2020	6.21 %	4.30 %	(11.86 %)
Q3 2020	2.29 %	0.51 %	(15.11 %)
Q4 2020	(5.31 %)	(11.03 %)	(29.68 %)
2020	(5.31 %)	(11.03 %)	(29.68 %)
Q1 2021	(8.90 %)	(14.12 %)	(34.10 %)
Q2 2021	(10.31 %)	(14.76 %)	(34.61 %)
Q3 2021	(7.20 %)	(12.11 %)	(31.46 %)
Q4 2021	(6.05 %)	(7.38 %)	(27.86 %)
2021	(6.05 %)	(7.38 %)	(27.86 %)
Q1 2022	(4.92 %)	(6.01 %)	(24.44 %)
Q2 2022	(10.70 %)	(12.50 %)	(32.74 %)
Q3 2022	(17.72 %)	(20.15 %)	(41.80 %)
Q4 2022	(14.00 %)	(29.33 %)	(46.72 %)
2022	(14.00 %)	(29.33 %)	(46.72 %)
Q1 2023	(12.45 %)	(26.56 %)	(46.75 %)
Q2 2023	(5.10 %)	(16.18 %)	(35.83 %)
Q3 2023	3.20 %	(6.30 %)	(24.85 %)
Q4 2023	8.59 %	8.38 %	(2.96 %)
2023	8.29 %	7.84 %	(2.95 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	26.71 %	26.19 %	14.18 %
2015	24.98 %	20.18 %	7.40 %
2016	25.56 %	22.50 %	8.77 %
2017	9.72 %	7.52 %	(8.45 %)
2018	12.11 %	9.95 %	(11.23 %)
2019	6.72 %	7.16 %	(11.53 %)
2020	(5.31 %)	(11.03 %)	(29.68 %)
2021	(6.05 %)	(7.38 %)	(27.86 %)
2022	(14.00 %)	(29.33 %)	(46.72 %)
2023	8.29 %	7.84 %	(2.95 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	26.92 %	24.57 %	16.18 %
Q2 2014	25.22 %	26.51 %	15.24 %
Q3 2014	26.66 %	27.64 %	15.20 %
Q4 2014	27.97 %	25.98 %	10.28 %
Q1 2015	24.38 %	23.14 %	10.91 %
Q2 2015	24.80 %	20.10 %	7.18 %
Q3 2015	21.19 %	15.67 %	0.85 %
Q4 2015	27.93 %	21.54 %	9.44 %
Q1 2016	27.58 %	24.33 %	11.69 %
Q2 2016	26.19 %	24.54 %	11.66 %
Q3 2016	24.05 %	19.89 %	4.18 %
Q4 2016	24.13 %	20.88 %	7.04 %
Q1 2017	19.92 %	18.58 %	3.83 %
Q2 2017	14.85 %	11.79 %	(2.80 %)
Q3 2017	12.60 %	7.81 %	(6.80 %)
Q4 2017	(14.38 %)	(13.72 %)	(34.69 %)
Q1 2018	7.16 %	7.79 %	(10.44 %)
Q2 2018	9.63 %	9.84 %	(4.88 %)
Q3 2018	8.36 %	8.11 %	(7.31 %)
Q4 2018	26.44 %	15.61 %	(28.80 %)
Q1 2019	5.88 %	7.60 %	(15.07 %)
Q2 2019	0.00 %	2.13 %	(22.32 %)
Q3 2019	1.93 %	2.25 %	(19.76 %)
Q4 2019	13.93 %	12.83 %	1.57 %
Q1 2020	3.95 %	0.24 %	(16.17 %)
Q2 2020	0.31 %	(3.27 %)	(21.21 %)
Q3 2020	(20.46 %)	(18.88 %)	(39.32 %)
Q4 2020	(8.55 %)	(24.75 %)	(45.14 %)
Q1 2021	(8.14 %)	(8.76 %)	(30.14 %)
Q2 2021	(4.95 %)	(5.61 %)	(23.05 %)
Q3 2021	(7.23 %)	(7.78 %)	(26.13 %)
Q4 2021	(4.05 %)	(7.64 %)	(32.94 %)
Q1 2022	(3.36 %)	(3.09 %)	(16.06 %)
Q2 2022	(43.05 %)	(47.88 %)	(76.25 %)
Q3 2022	(36.08 %)	(38.89 %)	(62.64 %)
Q4 2022	4.85 %	(37.18 %)	(49.10 %)
Q1 2023	-	-	-
Q2 2023	-	-	-
Q3 2023	-	-	-
Q4 2023	-	-	-

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2014	30.23	5.44	5.44	31.03
Q2 2014	30.23	5.70	5.70	29.90
Q3 2014	30.23	5.65	5.65	31.25
Q4 2014	30.23	5.18	5.18	32.11
Q1 2015	30.23	4.74	4.74	32.79
Q2 2015	30.23	3.95	3.95	31.31
Q3 2015	30.23	2.59	2.59	31.31
Q4 2015	30.23	2.52	2.52	32.05
Q1 2016	30.23	2.57	2.57	30.61
Q2 2016	30.23	3.04	3.04	30.07
Q3 2016	30.23	3.33	3.33	30.40
Q4 2016	30.23	2.99	2.99	30.81
Q1 2017	30.23	2.23	2.23	31.18
Q2 2017	30.23	1.01	1.01	29.57
Q3 2017	30.23	0.24	0.24	29.16
Q4 2017	30.23	(2.16)	(2.16)	27.03
Q1 2018	30.23	(2.96)	(2.96)	26.10
Q2 2018	30.23	(3.10)	(3.10)	25.69
Q3 2018	30.23	(3.13)	(3.13)	25.22
Q4 2018	30.23	(2.84)	(2.45)	23.53
Q1 2019	30.23	(2.92)	(2.53)	22.91
Q2 2019	30.23	(3.51)	(3.12)	22.06
Q3 2019	30.23	(3.97)	(3.58)	21.12
Q4 2019	30.23	(2.48)	(2.31)	19.94
Q1 2020	30.23	(2.71)	(2.55)	19.98
Q2 2020	30.23	(2.71)	(2.54)	19.07
Q3 2020	30.23	(3.27)	(3.10)	17.59
Q4 2020	30.23	(5.24)	(5.24)	14.61
Q1 2021	30.23	(5.49)	(5.49)	13.54
Q2 2021	30.23	(5.56)	(5.56)	12.57
Q3 2021	30.23	(5.10)	(5.10)	11.53
Q4 2021	30.23	(4.31)	(4.31)	10.23
Q1 2022	30.23	(3.86)	(3.86)	9.61
Q2 2022	30.23	(4.46)	(4.46)	8.03
Q3 2022	30.23	(5.28)	(5.28)	6.18
Q4 2022	30.23	(6.49)	(6.25)	3.91
Q1 2023	30.23	(6.48)	(6.24)	3.29
Q2 2023	30.23	(5.53)	(5.29)	2.66
Q3 2023	30.23	(4.18)	(3.93)	2.16
Q4 2023	30.23	(1.16)	(1.34)	2.36

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	30.23	5.18	5.18	32.11
2015	30.23	2.52	2.52	32.05
2016	30.23	2.99	2.99	30.81
2017	30.23	(2.16)	(2.16)	27.03
2018	30.23	(2.84)	(2.45)	23.53
2019	30.23	(2.48)	(2.31)	19.94
2020	30.23	(5.24)	(5.24)	14.61
2021	30.23	(4.31)	(4.31)	10.23
2022	30.23	(6.49)	(6.25)	3.91
2023	30.23	(1.16)	(1.34)	2.36

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2014	20.60	20.60	3.61
Q2 2014	20.56	20.56	3.92
Q3 2014	21.22	21.22	3.84
Q4 2014	13.85	13.85	2.24
Q1 2015	16.63	16.63	2.40
Q2 2015	19.69	19.69	2.49
Q3 2015	18.17	18.17	1.50
Q4 2015	19.25	19.25	1.51
Q1 2016	18.59	18.59	1.56
Q2 2016	16.51	16.51	1.67
Q3 2016	13.28	13.28	1.45
Q4 2016	19.62	19.62	1.90
Q1 2017	22.48	22.48	1.60
Q2 2017	38.15	38.15	1.30
Q3 2017	More than 100	More than 100	1.40
Q4 2017	NEG	NEG	1.40
Q1 2018	NEG	NEG	1.36
Q2 2018	NEG	NEG	1.45
Q3 2018	NEG	NEG	1.19
Q4 2018	NEG	NEG	1.34
Q1 2019	NEG	NEG	1.36
Q2 2019	NEG	NEG	1.26
Q3 2019	NEG	NEG	1.29
Q4 2019	NEG	NEG	1.39
Q1 2020	NEG	NEG	1.00
Q2 2020	NEG	NEG	1.31
Q3 2020	NEG	NEG	2.08
Q4 2020	NEG	NEG	3.02
Q1 2021	NEG	NEG	4.00
Q2 2021	NEG	NEG	4.88
Q3 2021	NEG	NEG	4.70
Q4 2021	NEG	NEG	4.10
Q1 2022	NEG	NEG	4.11
Q2 2022	NEG	NEG	3.39
Q3 2022	NEG	NEG	5.06
Q4 2022	NEG	NEG	5.78
Q1 2023	NEG	NEG	7.64
Q2 2023	NEG	NEG	9.66
Q3 2023	NEG	NEG	10.57
Q4 2023	NEG	NEG	10.05

Period	P/E	Adjusted P/E	Price/book
2014	13.85	13.85	2.24
2015	19.25	19.25	1.51
2016	19.62	19.62	1.90
2017	NEG	NEG	1.40
2018	NEG	NEG	1.34
2019	NEG	NEG	1.39
2020	NEG	NEG	3.02
2021	NEG	NEG	4.10
2022	NEG	NEG	5.78
2023	NEG	NEG	10.05

Business Segments (Million)

Compared With The

Period	General Construction	Manufacture & sale	property Leasing	Paints
Q1 2014	-	177.96	87.55	3.46
Q2 2014	-	161.40	101.21	5.02
Q3 2014	-	190.82	85.23	7.56
Q4 2014	-	193.96	86.47	4.32
Q1 2015	-	165.59	101.37	8.48
Q2 2015	-	125.78	99.86	11.52
Q3 2015	-	109.04	107.64	11.72
Q4 2015	-	144.92	129.91	12.08
Q1 2016	-	144.90	109.31	17.57
Q2 2016	-	142.61	106.14	18.57
Q3 2016	-	140.72	99.25	11.29
Q4 2016	-	135.03	88.92	19.05
Q1 2017	-	128.22	84.72	14.39
Q2 2017	-	105.23	81.14	12.42
Q3 2017	-	98.66	76.24	11.33
Q4 2017	-	77.69	74.08	9.00
Q1 2018	-	70.54	64.99	12.16
Q2 2018	-	123.48	67.30	10.40
Q3 2018	-	110.77	66.99	10.74
Q4 2018	-	41.44	67.39	12.43
Q1 2019	-	54.21	55.69	9.35
Q2 2019	-	62.44	51.32	9.30
Q3 2019	-	77.50	53.11	10.55
Q4 2019	-	158.09	51.30	12.95
Q1 2020	-	91.58	55.10	8.78
Q2 2020	-	67.98	58.00	2.83
Q3 2020	-	70.91	38.83	4.26
Q4 2020	-	88.93	37.72	8.60
Q1 2021	-	54.20	47.00	7.16
Q2 2021	-	66.25	54.94	6.47
Q3 2021	-	69.80	46.48	3.06
Q4 2021	-	54.97	54.57	3.31
Q1 2022	-	78.06	36.09	3.08
Q2 2022	-	16.87	41.42	4.28
Q3 2022	-	42.99	44.08	2.34
Q4 2022	-	101.71	42.98	-
Q1 2023	-	78.82	37.56	-
Q2 2023	-	66.98	38.77	-
Q3 2023	-	83.35	38.25	0.03
Q4 2023	869.25	128.61	36.65	-

Period	General Construction	Manufacture & sale	property Leasing	Paints
2014	-	724.13	360.46	20.35
2015	-	545.33	438.77	43.79
2016	-	563.25	403.61	66.48
2017	-	409.80	316.19	47.13
2018	-	346.23	266.66	45.72
2019	-	352.23	211.69	42.15
2020	-	319.41	189.64	24.48
2021	-	245.22	202.98	20.00
2022	-	239.63	164.58	-
2023	869.25	358.01	151.23	-

Financial Ratios

	Current
Market Cap (M Riyal)	1,998.20
Enterprise Value (EV) (M)	2,630.86
Shares Outstanding ((M))	30.23
EPS ( Riyal) (TTM)	(0.91)
Book Value (BV) ( Riyal)	0.85
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	NEG
Price/book	77.74
Return on Average Assets (%) (TTM)	(1.47 )
Return on Average Equity (%) (TTM)	(60.48 )

Red Sea International Co. (RED SEA)

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Red Sea narrows 2023 loss to SAR 35.1M; Q4 profit at SAR 17.5M

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Financials (M)

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Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

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Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

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Revenue by Business Segment (Latest) 2023 Q4

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Red Sea International Co. (RED SEA)

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Red Sea narrows 2023 loss to SAR 35.1M; Q4 profit at SAR 17.5M

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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) Q4 2023

Revenue by Business Segment (Latest) 2023 Q4

Financial Ratios

Share Price

Red Sea International Co. (RED SEA)

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Business Segments (Million)