Al Arabia profit surges to SAR 206.3 mln in 2021; Q4 up 51% to SAR 70.6 mln

03/03/2022 Argaam Exclusive

Arabian Contracting Services Co. (Al Arabia) reported a net profit after Zakat and tax of SAR 206.3 million for 2021, over a seven-fold increase compared to SAR 25.2 million in the previous year.

 

The gain in net profit is attributed to the return to normalcy after the travel ban was lifted as tourist visas were issued and Umrah resumed.

 

In addition, schools and universities opened, and the Riyadh season started during Q4 2021. Moreover, the company reported the continuation of digital transformation and increased new projects and advertising spaces.



Financials (M)

Item 2020 2021 Change‬
Revenues 497.59 720.63 44.8 %
Gross Income 99.05 330.28 233.5 %
Operating Income 51.43 261.33 408.2 %
Net Income 25.20 206.25 718.4 %
Average Shares 50.00 50.00 -
EPS (Riyals) 0.50 4.12 718.4 %

The company reported a net profit of SAR 70.6 million in Q4 2021, a 51% increase from SAR 46.6 million in Q4 2020.

 

On a sequential basis, net profit grew 23.7% from SAR 57.1 million in Q3 2021.



Current Quarter Comparison (M)

Compared With The
Item Q4 2020 Q4 2021 Change‬
Revenues 175.83 226.13 28.6 %
Gross Income 69.60 107.32 54.2 %
Operating Income 52.03 89.90 72.8 %
Net Income 46.63 70.60 51.4 %
Average Shares 50.00 50.00 -
EPS (Riyals) 0.93 1.41 51.4 %

Total shareholders’ equity rose 39% to SAR 731.28 million as of Dec. 31, 2021, from SAR 526.42 million a year earlier.

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Share Price

Arabian Contracting Services Co.
185.20
4.60 2.55 %

Arabian Contracting Services Co. (ALARABIA)

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Financial Ratios
Current
Market Cap (M Riyal) 9,260.00
Enterprise Value (EV) (M) 9,232.14
Shares Outstanding ((M)) 50.00
EPS ( Riyal) (TTM) 6.40
Book Value (BV) ( Riyal) 20.69
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 28.94
P/E (TTM) 28.94
Price/book 8.95
Return on Average Assets (%) (TTM) 11.8
Return on Average Equity (%) (TTM) 34.3
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