Burgerizzr H1 2023 profit rises 10% to SAR 3.3 mln

06/08/2023 Argaam Exclusive

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Shatirah House Restaurant Co. (Burgerizzr) reported a net profit of SAR 3.3 million in H1 2023, an increase of 10% from SAR 3 million in the year-earlier period.

Financials (M)

Item	6m 2022	6m 2023	Change‬
Revenues	120.84	131.98	9.2 %
Gross Income	34.34	36.62	6.6 %
Operating Income	4.65	5.54	19.1 %
Net Income	2.98	3.26	9.6 %
Average Shares	35.00	35.00	-
EPS (Riyals)	0.09	0.09	9.6 %

Revenues rose 9.2% year-on-year (YoY) on an increase in same-store sales and guest count.

On the other hand, the number of branches went up to 103 at the end of the current period, compared to 101 a year earlier. Seven new branches were added, while five others had been closed since the end of the same period last year.

Gross profit was up 6.6% on higher average sales per branch. However, gross profit margin fell from 28.42% to 27.75% in H1 2023.

Depreciation, rent, utilities, and maintenance expenses rose in line with the increase in the number of branches.

Selling expenses leapt by 15.48% due to the increased contribution of online channels. Meanwhile, administrative expenses declined by 9.9%.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2022	H1 2023	Change‬

Item	H2 2022	H1 2023	Change‬
Revenues	61.63	70.57	14.5 %
Gross Income	15.00	22.26	48.4 %
Operating Income	(0.16)	6.61	4130.5 %
Net Income	(1.19)	4.70	495.1 %
Average Shares	35.00	35.00	-
EPS (Riyals)	(0.03)	0.13	495.1 %

Total shareholders' equity, with no minority interest, reached SAR 60.27 billion at the end of the current period, up from SAR 58 billion a year earlier.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
H1 2014	-	-	-	-	-	-
H2 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	87.12	-	25.96	-	14.07	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	127.22	46.0 %	33.06	27.3 %	15.42	9.6 %
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	164.50	29.3 %	42.68	29.1 %	17.98	16.6 %
H1 2020	-	-	-	-	-	-
H2 2020	-	-	-	-	-	-
2020	195.83	19.0 %	51.06	19.6 %	21.80	21.2 %
H1 2021	-	-	-	-	-	-
H2 2021	-	-	-	-	-	-
2021	234.78	19.9 %	70.08	37.3 %	17.75	(18.6 %)
H1 2022	-	-	-	-	-	-
H2 2022	61.63	-	15.00	-	(0.16)	-
2022	250.44	6.7 %	68.31	(2.5 %)	5.74	(67.7 %)
H1 2023	70.57	-	22.26	-	6.61	-

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	87.12	-	25.96	-	14.07	-
2018	127.22	46.0 %	33.06	27.3 %	15.42	9.6 %
2019	164.50	29.3 %	42.68	29.1 %	17.98	16.6 %
2020	195.83	19.0 %	51.06	19.6 %	21.80	21.2 %
2021	234.78	19.9 %	70.08	37.3 %	17.75	(18.6 %)
2022	250.44	6.7 %	68.31	(2.5 %)	5.74	(67.7 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
H1 2014	-	-	-	-	-	-
H2 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	13.29	-	0.38	-	13.29	0.38
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	14.96	12.5 %	0.43	-	14.96	0.43
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	16.21	8.4 %	0.46	-	16.21	0.46
H1 2020	-	-	-	-	-	-
H2 2020	-	-	-	-	-	-
2020	19.00	17.2 %	0.54	-	19.00	0.54
H1 2021	-	-	-	-	-	-
H2 2021	-	-	-	-	-	-
2021	15.37	(19.1 %)	0.44	-	15.37	0.44
H1 2022	-	-	-	-	-	-
H2 2022	(1.19)	-	(0.03)	-	(1.19)	(0.03)
2022	2.70	(82.4 %)	0.08	-	2.70	0.08
H1 2023	4.70	-	0.13	-	4.70	0.13

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	13.29	-	0.38	-	13.29	0.38
2018	14.96	12.5 %	0.43	-	14.96	0.43
2019	16.21	8.4 %	0.46	-	16.21	0.46
2020	19.00	17.2 %	0.54	-	19.00	0.54
2021	15.37	(19.1 %)	0.44	-	15.37	0.44
2022	2.70	(82.4 %)	0.08	-	2.70	0.08

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
H1 2014	-	-	-
H2 2014	-	-	-
2014	-	-	-
H1 2015	-	-	-
H2 2015	-	-	-
2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
2016	-	-	-
H1 2017	-	-	-
H2 2017	-	-	-
2017	29.80 %	18.96 %	15.26 %
H1 2018	-	-	-
H2 2018	-	-	-
2018	25.98 %	15.19 %	11.76 %
H1 2019	-	-	-
H2 2019	-	-	-
2019	25.94 %	20.07 %	9.85 %
H1 2020	-	-	-
H2 2020	-	-	-
2020	26.07 %	21.19 %	9.70 %
H1 2021	-	-	-
H2 2021	-	-	-
2021	29.85 %	16.67 %	6.55 %
H1 2022	-	-	-
H2 2022	-	-	-
2022	27.28 %	12.19 %	1.08 %
H1 2023	26.99 %	12.08 %	1.14 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	29.80 %	18.96 %	15.26 %
2018	25.98 %	15.19 %	11.76 %
2019	25.94 %	20.07 %	9.85 %
2020	26.07 %	21.19 %	9.70 %
2021	29.85 %	16.67 %	6.55 %
2022	27.28 %	12.19 %	1.08 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
H1 2014	-	-	-
H2 2014	-	-	-
H1 2015	-	-	-
H2 2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
H1 2017	-	-	-
H2 2017	-	-	-
H1 2018	-	-	-
H2 2018	-	-	-
H1 2019	-	-	-
H2 2019	-	-	-
H1 2020	-	-	-
H2 2020	-	-	-
H1 2021	-	-	-
H2 2021	-	-	-
H1 2022	-	-	-
H2 2022	24.35 %	10.15 %	(1.93 %)
H1 2023	31.55 %	18.02 %	6.66 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
H1 2014	-	-	-	-
H2 2014	-	-	-	-
H1 2015	-	-	-	-
H2 2015	-	-	-	-
H1 2016	-	-	-	-
H2 2016	-	-	-	-
H1 2017	-	-	-	-
H2 2017	-	-	-	-
H1 2018	-	-	-	-
H2 2018	-	-	-	-
H1 2019	-	-	-	-
H2 2019	-	-	-	-
H1 2020	35.00	-	-	1.26
H2 2020	35.00	-	-	1.36
H1 2021	-	-	-	-
H2 2021	-	-	-	-
H1 2022	-	-	-	-
H2 2022	35.00	-	-	1.63
H1 2023	35.00	0.09	0.09	1.72

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2013	-	-	-	-
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	35.00	0.38	0.38	0.86
2018	35.00	0.43	0.43	1.09
2019	35.00	0.46	0.46	1.11
2020	35.00	0.54	0.54	1.36
2021	35.00	0.44	0.44	1.56
2022	35.00	0.08	0.08	1.63

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
H1 2014	-	-	-
H2 2014	-	-	-
H1 2015	-	-	-
H2 2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
H1 2017	-	-	-
H2 2017	-	-	-
H1 2018	-	-	-
H2 2018	-	-	-
H1 2019	-	-	-
H2 2019	-	-	-
H1 2020	-	-	-
H2 2020	-	-	-
H1 2021	-	-	-
H2 2021	-	-	-
H1 2022	-	-	-
H2 2022	-	-	4.98
H1 2023	More than 100	More than 100	5.23

Period	P/E	Adjusted P/E	Price/book
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	47.69	47.69	13.39
2022	More than 100	More than 100	4.98

Financial Ratios

	Current
Market Cap (M Riyal)	812.70
Enterprise Value (EV) (M)	813.61
Shares Outstanding ((M))	35.00
Book Value (BV) ( Riyal)	1.97
Par Value ( Riyal)	1.00
Adjusted P/E (Last12)	More than 100
Price/book	11.80

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Burgerizzr H1 2023 profit rises 10% to SAR 3.3 mln

View other reports

Financials (M)

Current Half Annual Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Financial Ratios

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