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Alwasail Industrial 2024 profit up 17% to SAR 39.1M; Q4 at SAR 14.8M
17/03/2025
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Alwasail Industrial Co. reported a net profit of SAR 39.1 million for 2024, an increase of 17% from SAR 33.6 million in 2023, on higher sales of pipes and fittings, in addition to profits from the sale of an investment in a subsidiary.
Financials (Million Riyal)
| Item | 2023 | 2024 | Change |
|---|---|---|---|
| Revenues | 446.00 | 460.11 | 3.2 % |
| Gross Income | 107.94 | 123.66 | 14.6 % |
| Operating Income | 42.05 | 39.54 | (6.0 %) |
| Net Income | 33.59 | 39.14 | 16.5 % |
| Average Shares | 250.00 | 250.00 | - |
| Earnings Per Share before unusual items (Riyals) | 0.13 | 0.12 | (12.2 %) |
| EPS (Riyal) | 0.13 | 0.16 | 16.5 % |
Q4 2024 net earnings fell 7% to SAR 14.8 million, from SAR 15.8 million in the prior-year period.
On a sequential basis, net profit dropped 39.2% from SAR 24.3 million in Q3 2024.
Current Quarter Comparison (Million Riyal)
| Item | Q4 2023 | Q4 2024 | Change |
|---|---|---|---|
| Revenues | - | 134.29 | - |
| Gross Income | - | 38.28 | - |
| Operating Income | - | 11.30 | - |
| Net Income | - | 6.96 | - |
| Average Shares | - | 250.00 | - |
| Earnings Per Share before unusual items (Riyal) | - | 0.03 | - |
| EPS (Riyal) | - | 0.03 | - |
Total shareholders’ equity, no minority interest, stood at SAR 361.19 million by Dec. 31, 2024, compared to SAR 360.03 million a year earlier.
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Share Price
Alwasail Industrial Co. (ALWASAIL INDUSTRIAL)
| Current | |
| Market Cap (M Riyal) | 637.50 |
| Enterprise Value (EV) (M Riyal) | 656.10 |
| Shares Outstanding ((M)) | 250.00 |
| Recurring EPS ( Riyal) (TTM) | 0.12 |
| Book Value (BV) ( Riyal) | 1.51 |
| Par Value ( Riyal) | 1.00 |
| Recurring P/E (TTM) | 21.14 |
| P/E (TTM) | 21.14 |
| Price/book | 1.69 |
| Dividend Yield (%) (Last Year) | 2.94 |
| Return on Average Assets (%) (TTM) | 5.7 |
| Return on Average Equity (%) (TTM) | 8.1 |
| EV/adj EBITDA | 12.16 |
| EV/Revenues | 1.60 |
Financial results (Million Riyal)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2024 | 110.38 | - | 34.79 | - | 15.24 | - |
| Q2 2024 | 109.69 | - | 24.42 | - | 3.17 | - |
| Q3 2024 | 105.83 | - | 26.53 | - | 9.92 | - |
| Q4 2024 | 134.29 | - | 38.28 | - | 11.30 | - |
| 2024 | 460.11 | 3.2 % | 123.66 | 14.6 % | 39.54 | (6.0 %) |
Profit Performance (Million Riyal)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS(Riyal) |
|---|---|---|---|---|---|---|
| Q1 2024 | 13.46 | - | 0.05 | - | 13.46 | 0.05 |
| Q2 2024 | 10.89 | - | 0.04 | 9.65 | 1.24 | 0.00 |
| Q3 2024 | 7.83 | - | 0.03 | - | 7.83 | 0.03 |
| Q4 2024 | 6.96 | - | 0.03 | - | 6.96 | 0.03 |
| 2024 | 39.14 | 16.5 % | 0.16 | 9.65 | 29.49 | 0.12 |
Profitability
| Period | Gross Margin | Adjusted EBITDA margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2023 | - | - | - |
| Q2 2023 | - | - | - |
| Q3 2023 | - | - | - |
| Q4 2023 | - | - | - |
| 2023 | 24.20 % | 12.11 % | 7.53 % |
| Q1 2024 | - | - | - |
| Q2 2024 | - | - | - |
| Q3 2024 | - | - | - |
| Q4 2024 | 26.95 % | 11.42 % | 6.41 % |
| 2024 | 26.88 % | 11.41 % | 6.41 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2024 | 250.00 | - | - | 1.49 |
| Q2 2024 | 250.00 | - | - | 1.44 |
| Q3 2024 | 250.00 | - | - | 1.42 |
| Q4 2024 | 250.00 | 0.16 | 0.12 | 1.44 |
Multiple Ratios (End of Period Price)
| Period | P/E | Recurring P/E | Price/book |
|---|---|---|---|
| Q1 2024 | - | - | 1.76 |
| Q2 2024 | - | - | 1.83 |
| Q3 2024 | - | - | 1.47 |
| Q4 2024 | 19.16 | 25.43 | 2.08 |
Business Segments (Million Riyal)
Q4 2024
| Period | Pipe Sales | Parts Sales | rubber sales | Imported goods sales | Electrical pipe sales | Others |
|---|---|---|---|---|---|---|
| Q1 2024 | 82.19 | 16.40 | 4.46 | 3.49 | 1.46 | 2.31 |
| Q2 2024 | 82.05 | 16.26 | 4.68 | 2.91 | 1.14 | 2.66 |
| Q3 2024 | 77.31 | 17.86 | 3.39 | 3.79 | 1.27 | 2.20 |
| Q4 2024 | 96.31 | 23.46 | 4.08 | 3.66 | 1.28 | 5.50 |
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