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Aldrees net profit rises 28% to SAR 81.6 mln in 9M 2020
Aldrees Petroleum and Transport Services Co. (Aldrees) reported a net profit after Zakat and tax of SAR 81.6 million for the first nine months of 2020, a 28% year-on-year (YoY) rise, compared to SAR 63.7 million in the same period last year.
Financials (M)
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 4,098.99 | 3,477.35 | (15.2 %) |
| Gross Income | 197.55 | 219.24 | 11.0 % |
| Operating Income | 104.20 | 121.28 | 16.4 % |
| Net Income | 63.71 | 81.57 | 28.0 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 1.06 | 1.36 | 28.0 % |
The company attributed the increase to higher fuel profit margin despite a decrease in sales and fuel prices and rise in other income; profit from joint venture; and lower marketing and Zakat expenses.
This was despite an increase in general, administrative and financial expense, and unrealized losses from revaluation of investment at fair value through profit and loss.
Current Quarter Comparison (M)
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 1,472.74 | 1,300.26 | (11.7 %) |
| Gross Income | 66.04 | 88.49 | 34.0 % |
| Operating Income | 34.59 | 62.26 | 80.0 % |
| Net Income | 16.55 | 36.90 | 122.9 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.28 | 0.61 | 122.9 % |
The company reported a net profit after Zakat and tax of SAR 36.9 million in Q3 2020, a more than twofold increase YoY, due to higher fuel profit margin, rise in profit from joint venture, and unrealized profit from revaluation of investment at fair value through profit and loss.
On a sequential basis, net profit after Zakat and tax surged on higher sales.
View other reports
Share Price
| Current | |
| Market Cap (M Riyal) | 3,912.00 |
| Shares Outstanding ((M)) | 60.00 |
| EPS ( Riyal) (TTM) | 2.02 |
| Book Value (BV) ( Riyal) | 14.88 |
| P/E (TTM) | 32.30 |
| Price/book | 4.38 |
| Return on Average Assets (%) (TTM) | 3.0 |
| Return on Average Equity (%) (TTM) | 13.7 |
| Adjusted P/E (Last12) | 32.30 |
| Enterprise Value (EV) (M Riyal) | 4,190.21 |
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