Tanmiah 9M 2023 profit drops 22% to SAR 49.6 mln; Q3 at SAR 17.2 mln
Tanmiah Food Co.’s net profit declined 22% to SAR 49.6 million in the first nine months of 2023, from SAR 63.5 million in the prior-year period.
The third-quarter net profit fell by 46% to SAR 17.2 million from SAR 31.7 million in Q3 2022.
Financials (M)
Item | 9m 2022 | 9m 2023 | Change |
---|---|---|---|
Revenues | 1,248.26 | 1,516.87 | 21.5 % |
Gross Income | 300.97 | 343.26 | 14.1 % |
Operating Income | 61.00 | 90.00 | 47.5 % |
Net Income | 63.48 | 49.57 | (21.9 %) |
Average Shares | 20.00 | 20.00 | - |
EPS (Riyals) | 3.17 | 2.48 | (21.9 %) |
Current Quarter Comparison (M)
Item | Q3 2022 | Q3 2023 | Change |
---|---|---|---|
Revenues | 471.54 | 533.74 | 13.2 % |
Gross Income | 121.31 | 117.37 | (3.2 %) |
Operating Income | 35.15 | 32.10 | (8.7 %) |
Net Income | 31.74 | 17.17 | (45.9 %) |
Average Shares | 20.00 | 20.00 | - |
EPS (Riyals) | 1.59 | 0.86 | (45.9 %) |
Total shareholders’ equity, no minority interest, increased to SAR 594 million as of Sept. 30, 2023, from SAR 409.59 million in the year-earlier period.
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Share Price
Tanmiah Food Co. (TANMIAH)
Current | |
Market Cap (M Riyal) | 2,264.00 |
Enterprise Value (EV) (M) | 2,615.56 |
Shares Outstanding ((M)) | 20.00 |
EPS ( Riyal) (TTM) | 4.77 |
Book Value (BV) ( Riyal) | 32.50 |
Par Value ( Riyal) | 10.00 |
Adjusted P/E (Last12) | 23.72 |
P/E (TTM) | 23.72 |
Price/book | 3.48 |
Return on Average Assets (%) (TTM) | 4.6 |
Return on Average Equity (%) (TTM) | 15.3 |
Financial results (Million)
Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
---|---|---|---|---|---|---|
Q1 2022 | 340.62 | (7.5 %) | 70.43 | (21.2 %) | (2.28) | (108.7 %) |
Q2 2022 | 436.10 | 19.0 % | 109.24 | 39.7 % | 28.13 | 193.3 % |
Q3 2022 | 471.54 | 20.9 % | 121.31 | 42.5 % | 35.15 | 212.0 % |
Q4 2022 | 478.78 | 15.5 % | 119.22 | 61.0 % | 33.89 | 2568.1 % |
2022 | 1,727.04 | 42.8 % | 420.19 | 81.3 % | 94.89 | 877.4 % |
Q1 2023 | 484.48 | 42.2 % | 119.95 | 70.3 % | 32.21 | 1510.2 % |
Q2 2023 | 498.66 | 14.3 % | 105.94 | (3.0 %) | 17.84 | (36.6 %) |
Q3 2023 | 533.74 | 13.2 % | 117.37 | (3.2 %) | 32.10 | (8.7 %) |
Profit Performance (Million)
Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
---|---|---|---|---|---|---|
Q1 2022 | 1.54 | (91.8 %) | 0.08 | - | 1.54 | 0.08 |
Q2 2022 | 30.20 | 783.6 % | 1.51 | - | 30.20 | 1.51 |
Q3 2022 | 31.74 | 754.8 % | 1.59 | - | 31.74 | 1.59 |
Q4 2022 | 123.33 | 1097.5 % | 6.17 | 101.93 | 21.40 | 1.07 |
2022 | 186.81 | 1278.0 % | 9.34 | 101.93 | 84.88 | 4.24 |
Q1 2023 | 20.99 | 1261.1 % | 1.05 | - | 20.99 | 1.05 |
Q2 2023 | 11.41 | (62.2 %) | 0.57 | - | 11.41 | 0.57 |
Q3 2023 | 17.17 | (45.9 %) | 0.86 | - | 17.17 | 0.86 |
Profitability
Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
---|---|---|---|
Q1 2023 | 25.11 % | 12.81 % | 5.58 % |
Q2 2023 | 24.12 % | 12.00 % | 4.42 % |
Q3 2023 | 23.17 % | 11.51 % | 3.56 % |
Per Share Data (Riyal)
Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
---|---|---|---|---|
Q1 2023 | 20.00 | 10.31 | 5.22 | 31.77 |
Q2 2023 | 20.00 | 9.37 | 4.28 | 28.85 |
Q3 2023 | 20.00 | 8.65 | 3.55 | 29.71 |
Multiple Ratios (End of Period Price)
Period | P/E | Adjusted P/E | Price/book |
---|---|---|---|
Q1 2023 | 12.47 | 24.65 | 4.05 |
Q2 2023 | 13.46 | 29.51 | 4.37 |
Q3 2023 | 10.83 | 26.38 | 3.15 |
Business Segments (Million)
Q3 2023
Period | Fresh Poultry | Animal Feed and Health | Food franchise operator |
---|---|---|---|
Q1 2023 | 406.00 | 61.50 | 17.00 |
Q2 2023 | 419.70 | 59.00 | 20.00 |
Q3 2023 | 433.41 | 76.71 | 23.68 |
Analysts Estimates (Million)
Item | Q3 2023 (e) | Q3 2023 (a) | Change |
---|---|---|---|
Average | 16.00 | 17.17 | 7.32 % |
Estimates vs Actual (Million)
Item | Q3 2023 (e) | Q3 2023 (a) | Change |
---|---|---|---|
Al Rajhi Capital | 16.00 | 17.17 | 7.3 % |
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