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Americana profit falls 39% to SAR 595.3M in 2024; Q4 at SAR 155.2M
Americana Restaurants International PLC reported a net profit of SAR 595.3 million for 2024, a decline of 39% from SAR 973 million in the year earlier period.
Financials (Million Riyal)
| Item | 2023 | 2024 | Change |
|---|---|---|---|
| Revenues | 9,049.25 | 8,237.82 | (9.0 %) |
| Gross Income | 4,730.85 | 4,377.73 | (7.5 %) |
| Operating Income | 1,087.74 | 722.55 | (33.6 %) |
| Net Income | 973.00 | 595.35 | (38.8 %) |
| Average Shares | 8,423.63 | 8,423.63 | - |
| Earnings Per Share before unusual items (Halala) | 11.72 | 7.44 | (36.5 %) |
| EPS (Halala) | 11.55 | 7.07 | (38.8 %) |
This was driven by lower adjusted EBITDA, increased depreciation charges on new store openings and corporate tax implementation in the UAE.
Revenue decreased by 9%, on reduced year-on-year (YoY) sales due to the regional geopolitical conditions and weaker consumer demand in some markets, along with unfavorable foreign exchange movements.
The company registered a sequential recovery throughout the year, bolstered by strategic initiatives aimed at elevating consumer engagement through product innovation, and promotional activities.
Current Quarter Comparison (Million Riyal)
| Item | Q4 2023 | Q4 2024 | Change |
|---|---|---|---|
| Revenues | 1,935.41 | 2,208.59 | 14.1 % |
| Gross Income | 1,013.24 | 1,182.65 | 16.7 % |
| Operating Income | 149.67 | 211.85 | 41.5 % |
| Net Income | 122.88 | 155.17 | 26.3 % |
| Average Shares | 8,423.63 | 8,423.63 | - |
| Earnings Per Share before unusual items (Halala) | 1.63 | 2.22 | 36.2 % |
| EPS (Halala) | 1.46 | 1.84 | 26.3 % |
Q4 2024 net profit jumped 26% to SAR 155.2 million from SAR 122.9 million in the year-earlier period.
On a sequential basis, net earnings increased 10.6% from SAR 140.3 million in Q3 2024.
Total shareholders’ equity, after minority interest, stood at SAR 1.47 billion by Dec. 31, 2024, compared to SAR 1.64 billion a year earlier.
Attached Documents
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Share Price
| Current | |
| Market Cap (M Riyal) | 21,985.67 |
| Enterprise Value (EV) (M Riyal) | 20,661.63 |
| Shares Outstanding ((M)) | 8,423.63 |
| Recurring EPS (Halala) (TTM) | 13.40 |
| Book Value (BV) ( Riyal) | 0.18 |
| Par Value ( Halala) | 7.50 |
| Recurring P/E (TTM) | 19.48 |
| P/E (TTM) | 19.48 |
| Price/book | 14.47 |
| Dividend Yield (%) (Last Year) | 3.44 |
| Return on Average Assets (%) (TTM) | 18.3 |
| Return on Average Equity (%) (TTM) | 74.3 |
| EV/adj EBITDA | 8.05 |
| EV/Revenues | 2.01 |
Financial results (Million Riyal)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2024 | 1,850.64 | (16.3 %) | 953.28 | (15.4 %) | 116.61 | (53.2 %) |
| Q2 2024 | 2,097.23 | (14.2 %) | 1,129.13 | (12.6 %) | 216.66 | (40.0 %) |
| Q3 2024 | 2,081.36 | (15.3 %) | 1,112.68 | (14.3 %) | 177.42 | (45.8 %) |
| Q4 2024 | 2,208.59 | 14.1 % | 1,182.65 | 16.7 % | 211.85 | 41.5 % |
| 2024 | 8,237.82 | (9.0 %) | 4,377.73 | (7.5 %) | 722.55 | (33.6 %) |
Profit Performance (Million Riyal)
| Period | Net Income | Change | EPS(Halala) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS(Halala) |
|---|---|---|---|---|---|---|
| Q1 2024 | 105.09 | (51.8 %) | 1.25 | - | 105.09 | 1.25 |
| Q2 2024 | 194.76 | (40.1 %) | 2.31 | - | 194.76 | 2.31 |
| Q3 2024 | 140.33 | (54.3 %) | 1.67 | - | 140.33 | 1.67 |
| Q4 2024 | 155.17 | 26.3 % | 1.84 | (31.72) | 186.89 | 2.22 |
| 2024 | 595.35 | (38.8 %) | 7.07 | (31.72) | 627.06 | 7.44 |
Profitability
| Period | Gross Margin | Adjusted EBITDA margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2023 | 51.10 % | 21.46 % | 11.21 % |
| Q2 2023 | 51.43 % | 22.16 % | 11.34 % |
| Q3 2023 | 51.97 % | 22.54 % | 11.49 % |
| Q4 2023 | 52.28 % | 22.48 % | 10.91 % |
| 2023 | 52.28 % | 22.48 % | 10.91 % |
| Q1 2024 | 52.44 % | 22.32 % | 10.06 % |
| Q2 2024 | 52.67 % | 21.75 % | 8.92 % |
| Q3 2024 | 52.84 % | 21.12 % | 7.25 % |
| Q4 2024 | 53.14 % | 21.43 % | 7.61 % |
| 2024 | 53.14 % | 21.43 % | 7.61 % |
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Halala) | Earnings Per Share before unusual items (Halala) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2024 | 8,423.63 | 10.21 | 10.38 | 0.21 |
| Q2 2024 | 8,423.63 | 8.67 | 8.84 | 0.15 |
| Q3 2024 | 8,423.63 | 6.68 | 6.85 | 0.16 |
| Q4 2024 | 8,423.63 | 7.07 | 7.44 | 0.18 |
Multiple Ratios (End of Period Price)
| Period | P/E | Recurring P/E | Price/book |
|---|---|---|---|
| Q1 2024 | 32.61 | 32.08 | 16.16 |
| Q2 2024 | 36.58 | 35.88 | 21.34 |
| Q3 2024 | 40.99 | 39.97 | 16.91 |
| Q4 2024 | 32.26 | 30.63 | 12.98 |
Business Segments (Million Riyal)
Q4 2024
| Period | Food and Beverages | Real Estate Rental Revenues | Other Revenues |
|---|---|---|---|
| Q1 2024 | 1,840.04 | 2.21 | 8.39 |
| Q2 2024 | 2,085.55 | 1.77 | 9.91 |
| Q3 2024 | 2,073.29 | 1.67 | 6.41 |
| Q4 2024 | 2,203.72 | 1.26 | 3.61 |
Analysts Estimates (Million Riyal)
| Item | Profit (Expected) | Profit (Actual) | Change |
|---|---|---|---|
| Average | 147.78 | 155.17 |
Estimates vs Actual (Million Riyal)
| Item | Profit (Expected) | Profit (Actual) | Change |
|---|---|---|---|
| SNB Capital | 150.38 | 155.17 | |
| GIB Capital | 165.44 | 155.17 | |
| AlJazira Capital | 140.30 | 155.17 | |
| United Securities Company | 135.00 | 155.17 |
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