Arabian Plastic posts 29% profit jump to SAR 7.8 mln in 2021

21/08/2022 Argaam Exclusive

Arabian Plastic Industrial Co. (APICO), which will list shares on Nomu-Parallel Market soon, reported a rise of 29% in 2021 net profit to SAR 7.8 million, compared to SAR 6 million a year earlier.



Financials (M)

Item 2020 2021 Change‬
Revenues 93.39 116.68 24.9 %
Gross Income 15.28 17.68 15.7 %
Operating Income 7.80 9.27 18.7 %
Net Income 6.04 7.81 29.3 %
Average Shares 5.00 5.00 -
EPS (Riyals) 1.21 1.56 29.3 %

The higher profit was driven by a 25% rise year-on-year (YoY) in revenue.

 

The current period included profit from the SABIC Basic Industries Corp’s (SABIC) incentive of SAR 1.2 million in 2020.

 

This came despite a decline in gross profit margins to 14% in 2021 from 16% in 2020.



Current Half Annual Comparison (M)

Compared With The
Item H2 2020 H2 2021 Change‬

Shareholders’ equity stood at SAR 73.3 million by the end of 2021, compared to SAR 65.5 million a year earlier.

 

APICO’s sales concentrated on five segments, topped by injection molding which reported revenue of SAR 39.4 million, compared to SAR 26.4 million in 2020.

 

Thermoforming sales revenue rose to SAR 32 million in the 12-month period, from SAR 27.7 million in 2020.

 

Film sales increased to SAR 27.7 million in 2021, from SAR 23.9 million a year earlier.

 

Blow molding revenue came in at SAR 10.6 million in 2021, up from SAR 8.9 million in 2020.

 

Other revenue reached SAR 7 million, compared to SAR 6.5 million in 2020.

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Share Price

Arabian Plastic Industrial Co.
35.75
(3.05) (7.86 %)

Arabian Plastic Industrial Co. (APICO)

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Financial Ratios
Current
Market Cap (M Riyal) 178.75
Enterprise Value (EV) (M) 232.21
Shares Outstanding ((M)) 5.00
Book Value (BV) ( Riyal) 19.20
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 13.72
Price/book 1.86
more


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2012 - - - - - -
H2 2012 - - - - - -
H1 2013 - - - - - -
H2 2013 - - - - - -
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 - - - - - -
H2 2020 - - - - - -
H1 2021 57.21 - 8.87 - 4.35 -
H2 2021 59.48 - 8.82 - 4.92 -
2021 116.68 24.9 % 17.68 15.7 % 9.27 18.7 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2012 - - - - - -
H2 2012 - - - - - -
H1 2013 - - - - - -
H2 2013 - - - - - -
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 - - - - - -
H2 2020 - - - - - -
H1 2021 3.64 - 0.73 - 3.64 0.73
H2 2021 4.17 - 0.83 1.25 2.92 0.58
2021 7.81 29.3 % 1.56 1.25 6.56 1.31

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2012 - - -
H2 2012 - - -
H1 2013 - - -
H2 2013 - - -
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 15.15 % 15.60 % 5.62 %
2021 15.15 % 15.60 % 5.62 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2012 - - - -
H2 2012 - - - -
H1 2013 - - - -
H2 2013 - - - -
H1 2014 - - - -
H2 2014 - - - -
H1 2015 - - - -
H2 2015 - - - -
H1 2016 - - - -
H2 2016 - - - -
H1 2017 - - - -
H2 2017 - - - -
H1 2018 - - - -
H2 2018 - - - -
H1 2019 - - - -
H2 2019 - - - -
H1 2020 - - - -
H2 2020 - - - -
H1 2021 5.00 - - 13.83
H2 2021 5.00 1.56 1.31 14.66

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2012 - - -
H2 2012 - - -
H1 2013 - - -
H2 2013 - - -
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 - - -

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