Fesh Fash posts 64% drop in 2021 net profit to SAR 1.4 mln
View other reports
Fesh Fash Snack Food Production Co.’s 2021 net profit after Zakat and tax fell by 64% to SAR 1.4 million, compared to SAR 3.93 million a year earlier.
Financials (M)
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 31.60 | 29.82 | (5.6 %) |
| Gross Income | 8.64 | 8.77 | 1.5 % |
| Operating Income | 3.99 | 1.57 | (60.7 %) |
| Net Income | 3.93 | 1.40 | (64.4 %) |
| Average Shares | 11.30 | 11.30 | - |
| EPS (Riyals) | 0.35 | 0.12 | (64.4 %) |
The profit drop came as the company’s management was forced to make offers. Accordingly, profit was lower amid an over 50% rise year-on-year (YoY) in production input costs.
It also incurred advisory expenses of SAR 935,626 on filing for direct listing.
In addition, some customers defaulted due to the COVID-19 pandemic, forcing the snack producer to file cases against them.
Accordingly, the company adopted IFRS at the time of the audit, which led to an increase of SAR 1100,000 in the calculation of the allocation of expected credit losses, weighing negatively on its final results
Current Half Annual Comparison (M)
| Item | H2 2020 | H2 2021 | Change |
|---|---|---|---|
| Revenues | 15.04 | 15.69 | 4.3 % |
| Gross Income | 4.17 | 3.78 | (9.3 %) |
| Operating Income | 1.56 | (0.61) | (139.1 %) |
| Net Income | 1.49 | (0.65) | (143.6 %) |
| Average Shares | 11.30 | 11.30 | - |
| EPS (Riyals) | 0.13 | (0.06) | (143.6 %) |
Shareholders’ equity, excluding minority interest, decreased to SAR 14.010 million as of Dec. 31, 2021, from SAR 16.004 million in 2020.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2021 | 14.13 | (14.6 %) | 5.00 | 11.6 % | 2.18 | (10.4 %) |
| H2 2021 | 15.69 | 4.3 % | 3.78 | (9.3 %) | (0.61) | (139.1 %) |
| 2021 | 29.82 | (5.6 %) | 8.77 | 1.5 % | 1.57 | (60.7 %) |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2021 | 2.05 | (16.2 %) | 0.18 | - | 2.05 | 0.18 |
| H2 2021 | (0.65) | (143.6 %) | (0.06) | - | (0.65) | (0.06) |
| 2021 | 1.40 | (64.4 %) | 0.12 | - | 1.40 | 0.12 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2021 | 31.40 % | 18.67 % | 12.12 % |
| H2 2021 | 29.42 % | 11.75 % | 4.70 % |
| 2021 | 29.42 % | 11.74 % | 4.70 % |
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2021 | 11.30 | 0.31 | 0.31 | 1.30 |
| H2 2021 | 11.30 | 0.12 | 0.12 | 1.24 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2021 | 87.87 | 87.87 | 21.19 |
| H2 2021 | More than 100 | More than 100 | 29.76 |
| Current | |
| Market Cap (M Riyal) | 188.48 |
| Enterprise Value (EV) (M) | 189.95 |
| Shares Outstanding ((M)) | 11.30 |
| Book Value (BV) ( Riyal) | 1.32 |
| Par Value ( Riyal) | 1.00 |
| Adjusted P/E (Last12) | More than 100 |
| Price/book | 12.60 |
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}