Logo of Marble Design Co.
Marble Design Co., which is expected to list on Nomu-Parallel Market, posted a net profit of SAR 22.6 million (SAR 3.77/share) for 2022, compared with SAR 24.8 million a year earlier.
|
Key Income Statement Items |
|||
|
Item |
2021 |
2022 |
Change |
|
Revenue |
59.1 |
55.2 |
(7%) |
|
Gross Income |
38.7 |
36.7 |
(5%) |
|
Gross Profit Margin (%) |
65.4% |
66.6% |
+1.1% |
|
Net Profit |
24.8 |
22.6 |
(9%) |
|
Number of Shares |
6.0 |
6.0 |
-- |
|
Earnings Per Share |
4.13 |
3.77 |
(9%) |
The company's profit margins improved as direct costs of sales fell 10%, which is higher than the percentage of revenue decline.
The following table shows key balance sheet items:
|
Key Balance Sheet Items (SAR mln) |
|||
|
Item |
2021 |
2022 |
Change |
|
Current Assets |
57.4 |
68.5 |
+19% |
|
Non-current Assets |
43.1 |
32.5 |
(25%) |
|
Total Assets |
100.6 |
101.1 |
+1% |
|
Current Liabilities |
12.6 |
11.9 |
(5%) |
|
Non-current Liabilities |
2.6 |
2.1 |
(19%) |
|
Total Liabilities |
15.1 |
14.0 |
+8% |
|
Capital |
11.0 |
60.0 |
+445% |
|
Shareholders' Equity |
85.4 |
87.1 |
+2% |
Marble Design paid a 93% cash dividend for 2022, amounting to SAR 21 million, compared with SAR 10 million a year earlier.
|
Cash Dividend (SAR mln) |
|||
|
Item |
2021 |
2022 |
Change |
|
Net Profit |
24.8 |
22.6 |
(9%) |
|
Cash Dividend |
10 |
21.0 |
+179% |
|
Dividend Percentage of Profit (%) |
40% |
93% |
+63% |
As for cash flows, the company recorded a negative net cash of SAR 0.5 million, compared with SAR 13.6 million a year earlier, boosted by cash from operations and investments.
|
Cash Flows (SAR mln) |
|||
|
Item |
2021 |
2022 |
Change |
|
Cash from Operations |
(11.1) |
14.4 |
-- |
|
Cash from Investments |
(18.8) |
7.2 |
-- |
|
Cash from Financing |
16.3 |
(22.1) |
-- |
|
Net Cash Change |
(13.6) |
(0.5) |
+97% |
The company boosted its maximum production capacity of floor and façade marbles from 52,000 square meters (sqm) per year to 160,000 sqm, to meet the expected growth in the construction sector. This was reflected on the industrial license after renewing it in March 2022.
In 2022, the actual production amounted to about 66,700 sqm, or 41.69% of the production capacity, compared to 49,820 sqm, or nearly 95.8% of the maximum production capacity in 2021.
|
Maximum Production Capacity, Actual Production (sqm) |
|||
|
Period |
Maximum Production Capacity |
Actual Production |
Percentage of Maximum Production Capacity |
|
2021 |
52,000 |
49,817 |
95.80% |
|
2022 |
160,000 |
66,700 |
41.69% |
The following table illustrates the most important financial indicators:
|
Key Financial Indicators |
||
|
Indicator |
2021 |
2022 |
|
Gross Profit Margin |
65.4% |
66.6% |
|
Net Profit Margin |
41.9% |
41.0% |
|
Return on equity |
29.0% |
26.0% |
|
Return on Assets |
24.6% |
22.4% |
|
Current Assets/Current Liabilities (X) |
4.57 |
5.75 |
|
Liabilities/Equity (x) |
0.18 |
0.16 |
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