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Raoom’s 2023 profit rises to SAR 46.6M; Q4 at SAR 10.1M
Raoom Trading Co. reported a net profit rise to SAR 46.6 million in 2023, compared to SAR 30.7 million a year earlier.
Financials (M)
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 135.23 | 135.04 | (0.1 %) |
| Gross Income | 43.71 | 42.57 | (2.6 %) |
| Operating Income | 34.14 | 30.87 | (9.6 %) |
| Net Income | 30.74 | 46.58 | 51.5 % |
| Average Shares | 12.50 | 12.50 | - |
| Earnings Per Share before unusual items | 2.46 | 3.73 | 51.5 % |
| EPS (Riyals) | 2.46 | 3.73 | 51.5 % |
The company reported non-recurring profits from short-term investments.
On the other hand, revenue was almost flat at SAR 135 million in 2023, edging down 0.14% year-on-year (YoY). Operating profit dropped by 9.58% to SAR 30.9 million from SAR 34.14 million in 2022, on higher general and administrative expenses. Raoom incurred additional fees on signing a non-binding memorandum of understating (MoU) to acquire an asset. The MoU was cancelled this year.
Q4 2023 net earnings rose 16.2% to SAR 10.14 million, compared with SAR 8.73 million a year before.
The three-month net earnings increased 16% from SAR 8.74 million in Q3 2023.
Current Quarter Comparison (M)
| Item | Q4 2022 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 37.03 | 34.44 | (7.0 %) |
| Gross Income | 13.41 | 9.59 | (28.5 %) |
| Operating Income | 10.01 | 6.66 | (33.5 %) |
| Net Income | 8.73 | 10.14 | 16.2 % |
| Average Shares | 12.50 | 12.50 | - |
| Earnings Per Share before unusual items | 0.70 | 0.81 | 16.2 % |
| EPS (Riyals) | 0.70 | 0.81 | 16.2 % |
Shareholders’ equity, no minority interest, stood at SAR 136.43 million as of Dec. 31, 2023, compared to SAR 107.09 million a year earlier.
|
Interim Financial Statements |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2020 |
55.67 |
16.05 |
2.57 |
|
H2 2020 |
53.19 |
10.02 |
1.60 |
|
H1 2021 |
55.72 |
15.40 |
2.46 |
|
H2 2021 |
54.47 |
9.49 |
1.52 |
|
H1 2022 |
65.04 |
16.24 |
2.60 |
|
H2 2022 |
70.19 |
14.50 |
2.32 |
|
H1 2023 |
68.48 |
27.69 |
4.43 |
|
H2 2023 |
66.56 |
18.89 |
3.02 |
View other reports
Share Price
Raoom Trading Co. (RAOOM)
| Current | |
| Market Cap (M Riyal) | 1,081.25 |
| Enterprise Value (EV) (M) | 979.79 |
| Shares Outstanding ((M)) | 12.50 |
| EPS ( Riyal) (TTM) | 3.43 |
| Book Value (BV) ( Riyal) | 12.87 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 25.23 |
| P/E (TTM) | 25.23 |
| Price/book | 6.72 |
| Return on Average Assets (%) (TTM) | 22.0 |
| Return on Average Equity (%) (TTM) | 28.8 |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| 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 %) |
| Q3 2023 | 32.13 | (3.1 %) | 11.47 | 37.9 % | 8.62 | 33.3 % |
| Q4 2023 | 34.44 | (7.0 %) | 9.59 | (28.5 %) | 6.66 | (33.5 %) |
| 2023 | 135.04 | (0.1 %) | 42.57 | (2.6 %) | 30.87 | (9.6 %) |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | Earnings Per Share before unusual items |
|---|---|---|---|---|---|---|
| Q1 2023 | 12.85 | 104.2 % | 1.03 | - | 12.85 | 1.03 |
| Q2 2023 | 14.84 | 49.2 % | 1.19 | - | 14.84 | 1.19 |
| Q3 2023 | 8.74 | 51.3 % | 0.70 | - | 8.74 | 0.70 |
| Q4 2023 | 10.14 | 16.2 % | 0.81 | - | 10.14 | 0.81 |
| 2023 | 46.58 | 51.5 % | 3.73 | - | 46.58 | 3.73 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2023 | 34.84 % | 30.51 % | 26.67 % |
| Q2 2023 | 31.18 % | 27.04 % | 30.43 % |
| Q3 2023 | 33.70 % | 28.86 % | 32.81 % |
| Q4 2023 | 31.52 % | 26.96 % | 34.49 % |
| 2023 | 31.52 % | 26.96 % | 34.49 % |
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2023 | 12.50 | 2.98 | 2.98 | 9.09 |
| Q2 2023 | 12.50 | 3.38 | 3.38 | 10.27 |
| Q3 2023 | 12.50 | 3.61 | 3.61 | 10.34 |
| Q4 2023 | 12.50 | 3.73 | 3.73 | 10.91 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2023 | 19.77 | 19.77 | 6.49 |
| Q2 2023 | 16.11 | 16.11 | 5.30 |
| Q3 2023 | 16.16 | 16.16 | 5.65 |
| Q4 2023 | 15.75 | 15.75 | 5.38 |
Business Segments (Million)
Q4 2023
| Period | Glass | Plastic and acrylic |
|---|---|---|
| Q1 2023 | 29.51 | 8.53 |
| Q2 2023 | 21.90 | 8.53 |
| Q3 2023 | 27.62 | 4.51 |
| Q4 2023 | 27.84 | 6.60 |
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