Saudi Paper Manufacturing Full Year 2023 Earnings: EPS Beats Expectations, Revenues Lag

Saudi Paper Manufacturing (TADAWUL:2300) Full Year 2023 Results

Key Financial Results

• Revenue: ر.س811.1m (up 17% from FY 2022).
• Net income: ر.س72.9m (up 56% from FY 2022).
• Profit margin: 9.0% (up from 6.8% in FY 2022). The increase in margin was driven by higher revenue.
• EPS: ر.س2.17 (up from ر.س1.62 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Saudi Paper Manufacturing EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) exceeded analyst estimates by 15%.

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 9.4% growth forecast for the Forestry industry in Asia.

Performance of the market in Saudi Arabia.

The company's shares are up 3.0% from a week ago.

Risk Analysis

It's necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with Saudi Paper Manufacturing (at least 1 which is a bit concerning), and understanding these should be part of your investment process.

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