Financial Results : Raoom H1 2023 profit up 71% to SAR 27.7 mln

Raoom H1 2023 profit up 71% to SAR 27.7 mln

30/07/2023 Argaam Exclusive

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Raoom Trading Co. reported a net profit of SAR 27.7 million for H1 2023, an increase of 71% from SAR 16.2 million in the prior-year period.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 65.04 68.48 5.3 %
Gross Income 21.99 21.51 (2.2 %)
Operating Income 17.66 15.59 (11.7 %)
Net Income 16.24 27.69 70.5 %
Average Shares 12.50 12.50 -
Earnings Per Share before unusual items (Riyals) 1.30 2.22 70.5 %
EPS (Riyal) 1.30 2.22 70.5 %

This was primarily backed by a 5.3% year-on-year (YoY) surge in revenue to SAR 68.47 million, as revenues of all segments grew thanks to the growth in the business segment. This is in addition to an expanded customer base, alongside realizing non-recurring profits from short-term investments.

 

This was despite operating profits for the current period decreasing by 8.0% to SAR 16.25 million, compared to SAR 17.66 million in H1 2022, mainly due to higher cost of revenue and lower average selling prices.



Current Quarter Comparison (M)

Compared With The
Item Q2 2022 Q2 2023 Change‬
Revenues 31.65 30.44 (3.8 %)
Gross Income 13.09 7.58 (42.1 %)
Operating Income 10.66 4.12 (61.4 %)
Net Income 9.95 14.84 49.2 %
Average Shares 12.50 12.50 -
Earnings Per Share before unusual items (Riyal) 0.80 1.19 49.2 %
EPS (Riyal) 0.80 1.19 49.2 %

Total shareholders’ equity, no minority interest, stood at SAR 128.35 million by the end of H1 2023, compared to SAR 105.44 million a year ago.

 

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 - - - - - -
Q1 2018 - - - - - -
Q2 2018 - - - - - -
Q3 2018 - - - - - -
Q4 2018 - - - - - -
Q1 2019 - - - - - -
Q2 2019 - - - - - -
Q3 2019 - - - - - -
Q4 2019 - - - - - -
Q1 2020 - - - - - -
Q2 2020 - - - - - -
Q3 2020 - - - - - -
Q4 2020 - - - - - -
Q1 2021 29.83 - 12.09 - 9.24 -
Q2 2021 25.89 - 10.09 - 7.58 -
Q3 2021 - - - - - -
Q4 2021 - - - - - -
Q1 2022 33.39 11.9 % 8.90 (26.4 %) 7.00 (24.3 %)
Q2 2022 31.65 22.3 % 13.09 29.7 % 10.66 40.7 %
Q3 2022 33.16 - 8.32 - 6.47 -
Q4 2022 37.03 - 13.41 - 10.01 -
Q1 2023 38.04 13.9 % 13.92 56.5 % 11.48 64.1 %
Q2 2023 30.44 (3.8 %) 7.58 (42.1 %) 4.12 (61.4 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS(Riyal)
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 - - - - - -
Q1 2018 - - - - - -
Q2 2018 - - - - - -
Q3 2018 - - - - - -
Q4 2018 - - - - - -
Q1 2019 - - - - - -
Q2 2019 - - - - - -
Q3 2019 - - - - - -
Q4 2019 - - - - - -
Q1 2020 - - - - - -
Q2 2020 - - - - - -
Q3 2020 - - - - - -
Q4 2020 - - - - - -
Q1 2021 8.53 - 0.68 - 8.53 0.68
Q2 2021 6.87 - 0.55 - 6.87 0.55
Q3 2021 - - - - - -
Q4 2021 - - - - - -
Q1 2022 6.29 (26.2 %) 0.50 - 6.29 0.50
Q2 2022 9.95 44.8 % 0.80 - 9.95 0.80
Q3 2022 5.78 - 0.46 - 5.78 0.46
Q4 2022 8.73 - 0.70 - 8.73 0.70
Q1 2023 12.85 104.2 % 1.03 - 12.85 1.03
Q2 2023 14.84 49.2 % 1.19 - 14.84 1.19

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 - - -
Q2 2021 - - -
Q3 2021 - - -
Q4 2021 - - -
Q1 2022 - - -
Q2 2022 - - -
Q3 2022 - - -
Q4 2022 32.32 % - 22.73 %
2022 32.32 % 29.26 % 22.73 %
Q1 2023 34.84 % - 26.67 %
Q2 2023 31.18 % 27.04 % 30.43 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
Q1 2014 - - - -
Q2 2014 - - - -
Q3 2014 - - - -
Q4 2014 - - - -
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 - - - -
Q2 2016 - - - -
Q3 2016 - - - -
Q4 2016 - - - -
Q1 2017 - - - -
Q2 2017 - - - -
Q3 2017 - - - -
Q4 2017 - - - -
Q1 2018 - - - -
Q2 2018 - - - -
Q3 2018 - - - -
Q4 2018 - - - -
Q1 2019 - - - -
Q2 2019 - - - -
Q3 2019 - - - -
Q4 2019 - - - -
Q1 2020 - - - -
Q2 2020 - - - -
Q3 2020 - - - -
Q4 2020 - - - -
Q1 2021 12.50 - - -
Q2 2021 12.50 - - 7.04
Q3 2021 - - - -
Q4 2021 - - - -
Q1 2022 12.50 - - -
Q2 2022 12.50 - - 8.44
Q3 2022 12.50 - - 8.90
Q4 2022 12.50 2.46 2.46 8.57
Q1 2023 12.50 2.98 2.98 9.09
Q2 2023 12.50 3.38 3.38 10.27

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Recurring P/E Price/book
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 - - -
Q2 2021 - - -
Q3 2021 - - -
Q4 2021 - - -
Q1 2022 - - -
Q2 2022 - - 7.06
Q3 2022 - - 6.52
Q4 2022 22.97 22.97 6.60
Q1 2023 19.77 19.77 6.49
Q2 2023 16.11 16.11 5.30

Business Segments (Million)

Compared With The
Period Glass Plastic and acrylic
Q3 2022 26.89 6.26
Q4 2022 30.67 6.37
Q1 2023 29.51 8.53
Q2 2023 21.90 8.53


Financial Ratios
Current
Market Cap (M Riyal) 763.13
Enterprise Value (EV) (M Riyal) 674.06
Shares Outstanding ((M)) 12.50
EPS ( Riyal) (TTM) 0.84
Book Value (BV) ( Riyal) 12.32
Par Value ( Riyal) 10.00
Recurring P/E 72.45
P/E (TTM) 72.45
Price/book 4.95
Return on Average Assets (%) (TTM) 4.9
Return on Average Equity (%) (TTM) 6.7
EV/adj EBITDA 30.10
EV/Revenues 6.30
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Share Price

Raoom Trading Co.
61.05
2.55 4.36 %

Raoom Trading Co. (RAOOM)

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