Burgerizzr 9M 2024 net profit up 31% to SAR 9.6M; Q3 at SAR 2.9M

04/11/2024 Argaam Exclusive

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Shatirah House Restaurant Co. (Burgerizzr) reported a net profit of SAR 9.6 million for the first nine months of 2024, a 31% hike from SAR 7.3 million in the year-earlier period.

Financials (M)

Item	9m 2023	9m 2024	Change‬
Revenues	204.32	223.15	9.2 %
Gross Income	59.37	70.06	18.0 %
Operating Income	10.00	11.01	10.1 %
Net Income	7.32	9.62	31.4 %
Average Shares	35.00	35.00	-
EPS (Riyals)	0.21	0.27	31.4 %

Revenue increased by 9.2%, due to the same store sales as well as opening new branches. Gross profit rose by 18.1% mainly due to higher average sales per branch and increased gross profit margins. Selling expenses grew by SAR 4.6 million, or 14.7% mainly due to higher delivery fees and increased contribution of online channels.

Further, administrative expenses increased by SAR 5.1 million mainly due to higher employee costs and other expenses in line with business growth.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2023	Q3 2024	Change‬
Revenues	72.34	77.08	6.5 %
Gross Income	22.75	23.05	1.3 %
Operating Income	4.46	3.16	(29.0 %)
Net Income	4.06	2.93	(27.7 %)
Average Shares	35.00	35.00	-
EPS (Riyals)	0.12	0.08	(27.7 %)

Item	Q2 2024	Q3 2024	Change‬
Revenues	70.26	77.08	9.7 %
Gross Income	21.14	23.05	9.1 %
Operating Income	2.01	3.16	57.3 %
Net Income	1.42	2.93	105.9 %
Average Shares	35.00	35.00	-
EPS (Riyals)	0.04	0.08	105.9 %

However, the Q3 2024 net profit stood at SAR 2.9 million, a decline of 27.7% from SAR 4 million in the year-ago period.

On a sequential basis, net earnings almost doubled from SAR 1.4 million in Q2 2024.

Total shareholders’ equity (no minority interest) surged to SAR 73.31 million by Sept. 30, 2024, compared to SAR 64.33 million a year earlier.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	87.12	-	25.96	-	14.07	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	127.22	46.0 %	33.06	27.3 %	15.42	9.6 %
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	164.50	29.3 %	42.68	29.1 %	17.98	16.6 %
Q1 2020	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	195.83	19.0 %	51.06	19.6 %	21.80	21.2 %
Q1 2021	-	-	-	-	-	-
Q2 2021	-	-	-	-	-	-
Q3 2021	-	-	-	-	-	-
Q4 2021	-	-	-	-	-	-
2021	234.78	19.9 %	70.08	37.3 %	17.75	(18.6 %)
Q1 2022	-	-	-	-	-	-
Q2 2022	-	-	-	-	-	-
Q3 2022	67.97	-	18.96	-	1.24	-
Q4 2022	61.63	-	15.00	-	(0.16)	-
2022	250.44	6.7 %	68.31	(2.5 %)	5.74	(67.7 %)
Q1 2023	61.41	-	14.36	-	(1.07)	-
Q2 2023	70.57	-	22.26	-	6.61	-
Q3 2023	72.34	6.4 %	22.75	20.0 %	4.46	257.9 %
Q4 2023	76.73	24.5 %	25.37	69.1 %	5.81	3643.3 %
2023	281.05	12.2 %	84.75	24.1 %	15.81	175.7 %
Q1 2024	75.82	23.5 %	25.87	80.2 %	5.84	645.7 %
Q2 2024	70.26	(0.4 %)	21.14	(5.1 %)	2.01	(69.6 %)
Q3 2024	77.08	6.5 %	23.05	1.3 %	3.16	(29.0 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
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 %)
2023	281.05	12.2 %	84.75	24.1 %	15.81	175.7 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	13.29	-	0.38	-	13.29	0.38
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	14.96	12.5 %	0.43	-	14.96	0.43
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	16.21	8.4 %	0.46	-	16.21	0.46
Q1 2020	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	19.00	17.2 %	0.54	-	19.00	0.54
Q1 2021	-	-	-	-	-	-
Q2 2021	-	-	-	-	-	-
Q3 2021	-	-	-	-	-	-
Q4 2021	-	-	-	-	-	-
2021	15.37	(19.1 %)	0.44	-	15.37	0.44
Q1 2022	-	-	-	-	-	-
Q2 2022	-	-	-	-	-	-
Q3 2022	0.91	-	0.03	-	0.91	0.03
Q4 2022	(1.19)	-	(0.03)	-	(1.19)	(0.03)
2022	2.70	(82.4 %)	0.08	-	2.70	0.08
Q1 2023	(1.44)	-	(0.04)	-	(1.44)	(0.04)
Q2 2023	4.70	-	0.13	-	4.70	0.13
Q3 2023	4.06	346.4 %	0.12	-	4.06	0.12
Q4 2023	4.97	517.4 %	0.14	-	4.97	0.14
2023	12.29	355.5 %	0.35	-	12.29	0.35
Q1 2024	5.27	466.8 %	0.15	-	5.27	0.15
Q2 2024	1.42	(69.7 %)	0.04	-	1.42	0.04
Q3 2024	2.93	(27.7 %)	0.08	-	2.93	0.08

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
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
2023	12.29	355.5 %	0.35	-	12.29	0.35

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
2017	29.80 %	18.96 %	15.26 %
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
2018	25.98 %	15.19 %	11.76 %
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
2019	25.94 %	20.07 %	9.85 %
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
2020	26.07 %	21.19 %	9.70 %
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
2021	29.85 %	16.67 %	6.55 %
Q1 2022	-	-	-
Q2 2022	-	-	-
Q3 2022	-	-	-
Q4 2022	-	-	-
2022	27.28 %	12.19 %	1.08 %
Q1 2023	-	-	-
Q2 2023	26.99 %	12.08 %	1.14 %
Q3 2023	27.97 %	13.06 %	2.30 %
Q4 2023	30.15 %	14.34 %	4.37 %
2023	30.15 %	14.34 %	4.37 %
Q1 2024	32.58 %	15.93 %	6.43 %
Q2 2024	32.23 %	14.32 %	5.32 %
Q3 2024	31.82 %	13.58 %	4.86 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %
2023	30.15 %	14.34 %	4.37 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
Q1 2022	-	-	-
Q2 2022	-	-	-
Q3 2022	27.90 %	11.07 %	1.34 %
Q4 2022	24.35 %	10.15 %	(1.93 %)
Q1 2023	23.38 %	8.31 %	(2.34 %)
Q2 2023	31.55 %	18.02 %	6.66 %
Q3 2023	31.45 %	14.72 %	5.61 %
Q4 2023	33.07 %	15.43 %	6.47 %
Q1 2024	34.12 %	15.67 %	6.95 %
Q2 2024	30.09 %	11.25 %	2.03 %
Q3 2024	29.91 %	11.83 %	3.80 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2015	-	-	-	-
Q2 2015	-	-	-	-
Q3 2015	-	-	-	-
Q4 2015	-	-	-	-
Q1 2016	-	-	-	-
Q2 2016	-	-	-	-
Q3 2016	-	-	-	-
Q4 2016	-	-	-	-
Q1 2017	-	-	-	-
Q2 2017	-	-	-	-
Q3 2017	-	-	-	-
Q4 2017	-	-	-	-
Q1 2018	-	-	-	-
Q2 2018	-	-	-	-
Q3 2018	-	-	-	-
Q4 2018	-	-	-	-
Q1 2019	-	-	-	-
Q2 2019	-	-	-	-
Q3 2019	-	-	-	-
Q4 2019	-	-	-	-
Q1 2020	-	-	-	-
Q2 2020	35.00	-	-	1.26
Q3 2020	-	-	-	-
Q4 2020	35.00	-	-	1.36
Q1 2021	-	-	-	-
Q2 2021	-	-	-	-
Q3 2021	-	-	-	-
Q4 2021	-	-	-	-
Q1 2022	-	-	-	-
Q2 2022	-	-	-	-
Q3 2022	35.00	-	-	1.68
Q4 2022	35.00	-	-	1.63
Q1 2023	35.00	-	-	1.59
Q2 2023	35.00	0.09	0.09	1.72
Q3 2023	35.00	0.18	0.18	1.84
Q4 2023	35.00	0.35	0.35	1.97
Q1 2024	35.00	0.54	0.54	2.12
Q2 2024	35.00	0.45	0.45	2.01
Q3 2024	35.00	0.42	0.42	2.09

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
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
2023	35.00	0.35	0.35	1.97

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
Q1 2022	-	-	-
Q2 2022	-	-	-
Q3 2022	-	-	5.94
Q4 2022	-	-	4.98
Q1 2023	-	-	4.16
Q2 2023	More than 100	More than 100	5.23
Q3 2023	49.50	49.50	4.72
Q4 2023	33.62	33.62	6.00
Q1 2024	20.68	20.68	5.30
Q2 2024	29.05	29.05	6.48
Q3 2024	28.51	28.51	5.67

Period	P/E	Adjusted P/E	Price/book
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	47.69	47.69	13.39
2022	More than 100	More than 100	4.98
2023	33.62	33.62	6.00

Financial Ratios

	Current
Market Cap (M Riyal)	834.40
Enterprise Value (EV) (M)	834.66
Shares Outstanding ((M))	35.00
EPS ( Riyal) (TTM)	0.42
Book Value (BV) ( Riyal)	2.09
Par Value ( Riyal)	1.00
Adjusted P/E (Last12)	More than 100
P/E (TTM)	More than 100
Price/book	11.38
Return on Average Assets (%) (TTM)	-
Return on Average Equity (%) (TTM)	21.2

Shatirah House Restaurant Co. (BURGERIZZR)

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Burgerizzr 9M 2024 net profit up 31% to SAR 9.6M; Q3 at SAR 2.9M

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Financials (M)

Current Quarter 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

Share Price

Shatirah House Restaurant Co. (BURGERIZZR)

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Burgerizzr 9M 2024 net profit up 31% to SAR 9.6M; Q3 at SAR 2.9M

View other reports

Financials (M)

Current Quarter 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

Share Price

Shatirah House Restaurant Co. (BURGERIZZR)

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