Fesh Fash’s net profit rises 10% to SAR 2.3 mln in H1 2022

Fesh Fash’s net profit rises 10% to SAR 2.3 mln in H1 2022

06/09/2022 Argaam Exclusive

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Fesh Fash Snack Food Production Co. reported a net profit after Zakat and tax of SAR 2.3 million in H1 2022, an increase of 10%, from SAR 2.1 million in a year-earlier period.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 14.13 15.71 11.2 %
Gross Income 5.00 4.71 (5.8 %)
Operating Income 2.18 2.32 6.8 %
Net Income 2.05 2.26 10.1 %
Average Shares 11.30 11.30 -
EPS (Riyals) 0.18 0.20 10.1 %

This earnings growth was fueled by a 19.15% drop year-on-year (YoY) in general and administrative expenses (G&As), 10.91% lower YoY sales and marketing expenses, a 6.27% YoY slump in operating costs and higher selling prices.



Current Half Annual Comparison (M)

Compared With The
Item H1 2021 H1 2022 Change‬
Revenues 14.13 15.71 11.2 %
Gross Income 5.00 4.71 (5.8 %)
Operating Income 2.18 2.32 6.8 %
Net Income 2.05 2.26 10.1 %
Average Shares 11.30 11.30 -
EPS (Riyals) 0.18 0.20 10.1 %

Total shareholders’ equity, excluding minority interest, stood at SAR 15.136 million by the end of H1 2022, compared to SAR 14.664 million in a year-earlier period.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2013 - - - - - -
H2 2013 - - - - - -
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 16.55 - 4.48 - 2.43 -
H2 2020 15.04 - 4.17 - 1.56 -
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 %)
H1 2022 15.71 11.2 % 4.71 (5.8 %) 2.32 6.8 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2013 - - - - - -
H2 2013 - - - - - -
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 2.45 - 0.22 - 2.45 0.22
H2 2020 1.49 - 0.13 - 1.49 0.13
H1 2021 2.05 (16.2 %) 0.18 - 2.05 0.18
H2 2021 (0.65) (143.6 %) (0.06) - (0.65) (0.06)
H1 2022 2.26 10.1 % 0.20 - 2.26 0.20

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2013 - - -
H2 2013 - - -
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 27.35 % 17.34 % 12.45 %
H1 2021 31.40 % 18.67 % 12.12 %
H2 2021 29.42 % 11.75 % 4.70 %
H1 2022 27.01 % 10.88 % 5.12 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2013 - - - -
H2 2013 - - - -
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 11.30 - - -
H2 2020 11.30 0.35 0.35 1.42
H1 2021 11.30 0.31 0.31 1.30
H2 2021 11.30 0.12 0.12 1.24
H1 2022 11.30 0.14 0.14 1.34

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2013 - - -
H2 2013 - - -
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 87.87 87.87 21.19
H2 2021 More than 100 More than 100 29.76
H1 2022 More than 100 More than 100 12.97


Financial Ratios
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
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Share Price

Fesh Fash Snack Food Production Co.
16.68
(0.26) (1.53 %)

Fesh Fash Snack Food Production Co. (FESH FASH)

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