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Argaam Tools ×
National Industrialization Co. (Tasnee) posted a 69% profit decline in the first nine months of 2023 to SAR 191.7 million, compared to SAR 623.2 million in the year-earlier period.
Financials (M)
Item | 9m 2022 | 9m 2023 | Change |
---|---|---|---|
Revenues | 2,943.41 | 2,609.87 | (11.3 %) |
Gross Income | 677.40 | 414.86 | (38.8 %) |
Operating Income | 273.45 | (144.45) | (152.8 %) |
Net Income | 623.21 | 191.70 | (69.2 %) |
Average Shares | 668.91 | 668.91 | - |
EPS (Riyals) | 0.93 | 0.29 | (69.2 %) |
The decrease in profit is attributed to lower sales revenue and the share of profit from investments in joint ventures and associates as a result of lower average selling prices for the majority of products, as well as an International Financial Reporting Standards (IFRS)-based non-recurring adjustment of a valuation allowance relating to deferred tax assets recorded in the previous quarter by an associate (Tronox Holdings plc.).
This is in addition to the increase in general and administrative expenses and impairment of financial assets, despite the increase in sales volumes of most of the products, a decrease in raw material costs and net finance costs, and an increase in other income.
Current Quarter Comparison (M)
Item | Q3 2022 | Q3 2023 | Change |
---|---|---|---|
Revenues | 887.11 | 831.95 | (6.2 %) |
Gross Income | 130.11 | 156.35 | 20.2 % |
Operating Income | 15.38 | (29.73) | (293.3 %) |
Net Income | 17.13 | 78.21 | 356.5 % |
Average Shares | 668.91 | 668.91 | - |
EPS (Riyals) | 0.03 | 0.12 | 356.5 % |
Item | Q2 2023 | Q3 2023 | Change |
---|---|---|---|
Revenues | 889.24 | 831.95 | (6.4 %) |
Gross Income | 143.47 | 156.35 | 9.0 % |
Operating Income | (13.94) | (29.73) | (113.3 %) |
Net Income | 31.41 | 78.21 | 149.0 % |
Average Shares | 668.91 | 668.91 | - |
EPS (Riyals) | 0.05 | 0.12 | 149.0 % |
Net profit increased 356% to SAR 78.2 million in Q3 2023, up from SAR 17.13 million in Q3 2022, owing to a higher share of profit from joint ventures, higher sales volumes of most products, lower average feedstock costs and net finance costs, and an increase in other income.
This came despite lower revenue due to a decrease in average selling prices of most of the products, losses from investments in associates, an increase in general and administrative expenses, and Zakat provision.
On a sequential basis, the bottom line grew by 149% from SAR 31.41 million in Q2 2023.
Shareholders’ equity, excluding minority interest, reached SAR 9.65 billion as of Sept. 30, 2023, up from SAR 9.52 billion a year earlier.
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- TASI
-
Energy
- 2222 - SAUDI ARAMCO
- 2030 - SARCO
- 2380 - PETRO RABIGH
- 4030 - BAHRI
- 4200 - ALDREES
- 2381 - ARABIAN DRILLING
- 2382 - ADES
- 1201 - TAKWEEN
- 1202 - MEPCO
- 1210 - BCI
- 1211 - MAADEN
- 1301 - ASLAK
- 1304 - ALYAMAMAH STEEL
- 1320 - SSP
- 2001 - CHEMANOL
- 2010 - SABIC
- 2020 - SABIC AGRI-NUTRIENTS
- 2090 - NGC
- 2150 - ZOUJAJ
- 2170 - ALUJAIN
- 2180 - FIPCO
- 2200 - APC
- 2210 - NAMA CHEMICALS
- 2220 - MAADANIYAH
- 2240 - ZAMIL INDUST
- 2250 - SIIG
- 2290 - YANSAB
- 2300 - SPM
- 2310 - SIPCHEM
- 2330 - ADVANCED
- 2350 - SAUDI KAYAN
- 3001 - HCC
- 3002 - NAJRAN CEMENT
- 3003 - CITY CEMENT
- 3004 - NORTHERN CEMENT
- 3005 - UACC
- 3010 - ACC
- 3020 - YSCC
- 3030 - SAUDI CEMENT
- 3040 - QACCO
- 3050 - SPCC
- 3060 - YCC
- 3080 - EPCCO
- 3090 - TCC
- 3091 - JOUF CEMENT
- 3092 - RIYADH CEMENT
- 2060 - TASNEE
- 3008 - ALKATHIRI
- 3007 - OASIS
- 1321 - EAST PIPES
- 1322 - AMAK
- 2223 - LUBEREF
- 2360 - SVCP
- 1212 - ASTRA INDUSTRIAL
- 1302 - BAWAN
- 1303 - EIC
- 2040 - SAUDI CERAMICS
- 2110 - SAUDI CABLE
- 2160 - AMIANTIT
- 2320 - ALBABTAIN
- 2370 - MESC
- 4140 - SIECO
- 4141 - ALOMRAN
- 4142 - RIYADH CABLES
- 1214 - SHAKER
- 4110 - BATIC
- 4031 - SGS
- 4040 - SAPTCO
- 4260 - BUDGET SAUDI
- 2190 - SISCO HOLDING
- 4261 - THEEB
- 4263 - SAL
- 4262 - LUMI
- 1810 - SEERA
- 6013 - DWF
- 1820 - ALHOKAIR GROUP
- 4170 - TECO
- 4290 - ALKHALEEJ TRNG
- 6002 - HERFY FOODS
- 1830 - FITNESS TIME
- 6012 - RAYDAN
- 4291 - NCLE
- 4292 - ATAA
- 6014 - ALAMAR
- 6015 - AMERICANA
- 4003 - EXTRA
- 4008 - SACO
- 4050 - SASCO
- 4190 - JARIR
- 4240 - CENOMI RETAIL
- 4191 - ABO MOATI
- 4051 - BAAZEEM
- 4192 - ALSAIF GALLERY
- 4001 - A.OTHAIM MARKET
- 4006 - FARM SUPERSTORES
- 4061 - ANAAM HOLDING
- 4160 - THIMAR
- 4161 - BINDAWOOD
- 4162 - ALMUNAJEM
- 4164 - NAHDI
- 4163 - ALDAWAA
- 2050 - SAVOLA GROUP
- 2100 - WAFRAH
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- 2280 - ALMARAI
- 6001 - HB
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- 6070 - ALJOUF
- 6090 - JAZADCO
- 2281 - TANMIAH
- 2282 - NAQI
- 2283 - FIRST MILLS
- 4080 - SINAD HOLDING
- 2284 - MODERN MILLS
- 4002 - MOUWASAT
- 4004 - DALLAH HEALTH
- 4005 - CARE
- 4007 - ALHAMMADI
- 4009 - SAUDI GERMAN HEALTH
- 2230 - CHEMICAL
- 4013 - SULAIMAN ALHABIB
- 2140 - AYYAN
- 4014 - EQUIPMENT HOUSE
- 1010 - RIBL
- 1020 - BJAZ
- 1030 - SAIB
- 1050 - BSFR
- 1060 - SAB
- 1080 - ANB
- 1120 - ALRAJHI
- 1140 - ALBILAD
- 1150 - ALINMA
- 1180 - SNB
- 2120 - SAIC
- 4280 - KINGDOM
- 4130 - ALBAHA
- 4081 - NAYIFAT
- 1111 - TADAWUL GROUP
- 4082 - MRNA
- 1182 - AMLAK
- 1183 - SHL
- 8010 - TAWUNIYA
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- 8020 - MALATH INSURANCE
- 8030 - MEDGULF
- 8040 - ALLIANZ SF
- 8050 - SALAMA
- 8060 - WALAA
- 8070 - ARABIAN SHIELD
- 8190 - UCA
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- 8280 - LIVA
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- 8170 - ALETIHAD
- 8100 - SAICO
- 8120 - GULF UNION ALAHLIA
- 8200 - SAUDI RE
- 8160 - AICC
- 8250 - GIG
- 8240 - CHUBB
- 8260 - GULF GENERAL
- 8300 - WATANIYA
- 8310 - AMANA INSURANCE
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- 4330 - RIYAD REIT
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- 4333 - TALEEM REIT
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- 4323 - SUMOU
- 4090 - TAIBA
- 4100 - MCDC
- 4150 - ARDCO
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- 4230 - RED SEA
- 4250 - JABAL OMAR
- 4300 - DAR ALARKAN
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- 4322 - RETAL
- NOMU
-
Utilities
Real Estate Mgmt & Dev't
REITs
Health Care Equipment & Svc
- 9518 - CMCER
- 9530 - TIBBIYAH
- 9527 - AME
- 9544 - FUTURE CARE
- 9546 - NABA ALSAHA
- 9574 - PRO MEDEX
- 9594 - ALMODAWAT
- 9572 - ALRAZI
- 9587 - LANA
- 9600 - QOMEL
- 9515 - FESH FASH
- 9532 - ALJOUF WATER
- 9536 - FADECO
- 9556 - NOFOTH
- 9559 - BALADY
- 9564 - HORIZON FOOD
- 9555 - LEEN ALKHAIR
- 9513 - WATANI STEEL
- 9514 - ALNAQOOL
- 9523 - GROUP FIVE
- 9539 - AQASEEM
- 9548 - APICO
- 9553 - MOLAN
- 9565 - MEYAR
- 9552 - SAUDI TOP
- 9563 - BENA
- 9566 - LIME INDUSTRIES
- 9580 - ALRASHID INDUSTRIAL
- 9583 - UNITED MINING
- 9576 - PAPER HOME
- 9588 - RIYADH STEEL
- 9575 - MARBLE DESIGN
- 9599 - TAQAT
- 9510 - NBM
- 9528 - GAS
- 9531 - OBEIKAN GLASS
- 9533 - SPC
- 9529 - RAOOM
- 9525 - ALWASAIL INDUSTRIAL
- 9542 - KEIR
- 9547 - RAWASI
- 9568 - MAYAR
- 9569 - ALMUNEEF
- 9578 - ATLAS ELEVATORS
- 9560 - WAJA
- 9520 - BURGERIZZR
- 9541 - ACADEMY OF LEARNING
- 9567 - GHIDA ALSULTAN
- 9562 - FOOD GATE
- 9590 - ARMAH
- 9526 - JAHEZ
- 9598 - ALMOHAFAZA
Share Price
National Industrialization Co. (TASNEE)
Current | |
Market Cap (M Riyal) | 8,628.99 |
Enterprise Value (EV) (M) | 13,323.89 |
Shares Outstanding ((M)) | 668.91 |
EPS ( Riyal) (TTM) | 0.03 |
Book Value (BV) ( Riyal) | 14.25 |
Par Value ( Riyal) | 10.00 |
Adjusted P/E (Last12) | 37.44 |
P/E (TTM) | More than 50 |
Price/book | 0.91 |
Return on Average Assets (%) (TTM) | 0.1 |
Return on Average Equity (%) (TTM) | 0.2 |
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