Investor Presentaiton
Consolidated Income Statement
Estithmar's P&L reflects growth in EBITDA and Net Profit
Consolidated Income Statement
Estithmar Holding
Commentary
1.
Net Revenue for the six months to June 2022 (HY22) increased 21.9% compared
to the previous comparative period (pcp or HY21), with growth in all segments or
Clusters. Contracting grew by 52%, Industries by 72%, Services by 19%, and
Healthcare commencing operations.
Gross Profit of QAR 263.0 million at 14.2% was higher in value from pcp but
lower in GM% due to rising input costs experienced, i.e. shipping, unit rate of
resources and materials.
G&A Expenses has increased by QAR28.6 million, which includes QAR 34.4
from IHG companies (including QAR 20.8 million in Transaction Costs) and QAR
7.1 million from new BUS. This has lead to an increase G&A % from 4.1% to 4.9%.
Operational EBITDA of QAR 260.7 million is higher than pcp however achieved at
14.1% which is below 16.1% in prior year largely due to increases in cost to
complete projects for Landscape, Debbas, CDCT and EMEC.
Amount in '000s
Note
For the Period ending
June 2022
For the Period ending
June 2021
Variance
Variance %
Net Revenue
Cost of Revenue
1,852,985
(1,590,006)
Gross Profit
Gross Profit Margin
G&A Expenses
G&A Expenses Margin
Operational EBITDA
Operational EBITDA Margin
Depreciation
EBIT
262,980
1,520,133
(1,270,791)
249,342
332,852 21.9%
(319,214) 25.1%
13,638
5.5%
14.2%
16.4%
-2.2%
2.
(90,312)
(61,710)
(28,602) 46.3%
-4.9%
-4.1%
-0.8%
260,650
244,439
16,211
6.6%
14.1%
16.1%
-2.0%
3.
(45,558)
208,687
(45,353)
177,887
(205)
30,800 17.3%
0.5%
EBIT Margin
11.3%
11.7%
-0.4%
Interest Cost
7
Other Income/ Expenses
8
Net Profit
9
(24,479)
42,553
190,613
(15,230)
9,261
183,856
(9,248)
33,291
60.7%
359.5%
4.
6,757
3.7%
Net Profit Margin
10.3%
12.1%
-1.8%
5.
Shareholders of the Company
Non-controlling interest
Total comprehensive income attributable to:
Basic and diluted earnings per share
192,536
182,450
(1,923)
1,406
190,613
183,856
0.065
0.071
Depreciation broadly in line with pcp
6.
Current HY EBIT has increased by QAR 30.8 million or 17.3% at and EBIT % of
11.3%
7.
Interest expense increased due to increased utilization of facilities and inclusion
of IHG companies' debt.
Notes/Adjustments
[1] Underlying EBITDA of QAR 281.6 million is adjusting above EBITDA of QAR 260.6 million by QAR 20.9 million of non-recurring transaction costs associated
with the reverse acquisition.
8.
Other Income / Expenses have
[2] Underlying Net Profit of QAR 213.4 million is adjusting Net Profit Attributable to Shareholders of the Company of QAR 192.5 million by QAR 20.9 million of
transaction costs associated with the reverse acquisition.
9.
Net Profit has increased to QAR 190.6 million despite adverse movements
mentioned at 10.3%.
[3]
Underlying EPS is adjusting Net Profit Attributable to Shareholders of QAR 192.5 million by QAR 20.9 million of transaction costs divided by the weighted
average number of shares attributable to the Shhareholders of the Company.
Estithmar
Holding Q.P.S.C.
ESTITHMAR HOLDING Q.P.S.CView entire presentation