Fesh Fash profit jumps 65% to SAR 2.5M in 2023

30/03/2024 Argaam Exclusive

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Fesh Fash Snack Food Production Co. reported a net profit increase of 65% to SAR 2.5 million in 2023 from SAR 1.5 million in the prior-year period.

Financials (M)

Item	2022	2023	Change‬
Revenues	31.46	33.98	8.0 %
Gross Income	8.12	10.03	23.4 %
Operating Income	1.76	2.82	60.7 %
Net Income	1.54	2.54	65.5 %
Average Shares	11.30	11.30	-
EPS (Riyals)	0.14	0.23	65.5 %

The annual profit leap was driven by an 8% year-on-year (YoY) rise in sales due to opening new channels. This is in addition to a 23% YoY hike in comprehensive income.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2022	H2 2023	Change‬
Revenues	15.74	16.63	5.6 %
Gross Income	3.42	5.19	52.0 %
Operating Income	(0.57)	1.34	336.1 %
Net Income	(0.72)	1.17	262.1 %
Average Shares	11.30	11.30	-
EPS (Riyals)	(0.06)	0.10	262.1 %

Item	H1 2023	H2 2023	Change‬
Revenues	17.35	16.63	(4.2 %)
Gross Income	4.83	5.19	7.4 %
Operating Income	1.48	1.34	(9.6 %)
Net Income	1.38	1.17	(15.4 %)
Average Shares	11.30	11.30	-
EPS (Riyals)	0.12	0.10	(15.4 %)

Total shareholders’ equity, no minority interest, grew to SAR 14.95 million as of Dec. 31, 2023, from SAR 14.31 million a year earlier.

Historical Data
Period	Revenue (SAR mln)	Net Profit (SAR mln)	EPS (SAR)
H1 2020	16.55	2.45	0.22
H2 2020	15.05	1.48	0.13
H1 2021	14.13	2.05	0.18
H2 2021	15.69	(0.65)	(0.06)
H1 2022	15.71	2.26	0.2
H2 2022	15.75	(0.72)	(0.06)
H1 2023	17.35	1.38	0.12
H2 2023	16.63	1.16	0.10

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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	-	-	-	-	-	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	27.15	-	10.19	-	6.62	-
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	27.97	3.1 %	9.96	(2.2 %)	5.07	(23.4 %)
H1 2020	16.55	-	4.48	-	2.43	-
H2 2020	15.04	-	4.17	-	1.56	-
2020	31.60	13.0 %	8.64	(13.2 %)	3.99	(21.3 %)
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 %)
H1 2022	15.71	11.2 %	4.71	(5.8 %)	2.32	6.8 %
H2 2022	15.74	0.4 %	3.42	(9.5 %)	(0.57)	6.9 %
2022	31.46	5.5 %	8.12	(7.4 %)	1.76	12.1 %
H1 2023	17.35	10.4 %	4.83	2.7 %	1.48	(36.2 %)
H2 2023	16.63	5.6 %	5.19	52.0 %	1.34	336.1 %
2023	33.98	8.0 %	10.03	23.4 %	2.82	60.7 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	27.15	-	10.19	-	6.62	-
2019	27.97	3.1 %	9.96	(2.2 %)	5.07	(23.4 %)
2020	31.60	13.0 %	8.64	(13.2 %)	3.99	(21.3 %)
2021	29.82	(5.6 %)	8.77	1.5 %	1.57	(60.7 %)
2022	31.46	5.5 %	8.12	(7.4 %)	1.76	12.1 %
2023	33.98	8.0 %	10.03	23.4 %	2.82	60.7 %

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	-	-	-	-	-	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	6.43	-	0.57	-	6.43	0.57
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	4.87	(24.4 %)	0.43	-	4.87	0.43
H1 2020	2.45	-	0.22	-	2.45	0.22
H2 2020	1.49	-	0.13	-	1.49	0.13
2020	3.93	(19.2 %)	0.35	-	3.93	0.35
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
H1 2022	2.26	10.1 %	0.20	-	2.26	0.20
H2 2022	(0.72)	(10.9 %)	(0.06)	-	(0.72)	(0.06)
2022	1.54	9.7 %	0.14	-	1.54	0.14
H1 2023	1.38	(39.0 %)	0.12	-	1.38	0.12
H2 2023	1.17	262.1 %	0.10	-	1.17	0.10
2023	2.54	65.5 %	0.23	-	2.54	0.23

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	6.43	-	0.57	-	6.43	0.57
2019	4.87	(24.4 %)	0.43	-	4.87	0.43
2020	3.93	(19.2 %)	0.35	-	3.93	0.35
2021	1.40	(64.4 %)	0.12	-	1.40	0.12
2022	1.54	9.7 %	0.14	-	1.54	0.14
2023	2.54	65.5 %	0.23	-	2.54	0.23

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	-	-	-
H1 2018	-	-	-
H2 2018	-	-	-
2018	37.52 %	28.42 %	23.70 %
H1 2019	-	-	-
H2 2019	-	-	-
2019	35.60 %	22.19 %	17.39 %
H1 2020	-	-	-
H2 2020	27.35 %	17.34 %	12.45 %
2020	27.35 %	17.34 %	12.45 %
H1 2021	31.40 %	18.67 %	12.12 %
H2 2021	29.42 %	11.75 %	4.70 %
2021	29.42 %	11.74 %	4.70 %
H1 2022	27.01 %	10.88 %	5.12 %
H2 2022	25.82 %	11.31 %	4.89 %
2022	25.82 %	11.31 %	4.89 %
H1 2023	24.93 %	8.51 %	1.99 %
H2 2023	29.50 %	13.10 %	7.48 %
2023	29.50 %	13.10 %	7.48 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	37.52 %	28.42 %	23.70 %
2019	35.60 %	22.19 %	17.39 %
2020	27.35 %	17.34 %	12.45 %
2021	29.42 %	11.74 %	4.70 %
2022	25.82 %	11.31 %	4.89 %
2023	29.50 %	13.10 %	7.48 %

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	27.04 %	19.22 %	14.78 %
H2 2020	27.69 %	15.28 %	9.88 %
H1 2021	35.35 %	22.29 %	14.50 %
H2 2021	24.07 %	2.25 %	(4.14 %)
H1 2022	29.94 %	19.50 %	14.36 %
H2 2022	21.71 %	3.15 %	(4.57 %)
H1 2023	27.85 %	13.38 %	7.94 %
H2 2023	31.23 %	12.81 %	7.01 %

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	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
H2 2022	11.30	0.14	0.14	1.27
H1 2023	11.30	0.06	0.06	1.24
H2 2023	11.30	0.23	0.23	1.32

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	11.30	0.57	0.57	1.44
2019	11.30	0.43	0.43	1.43
2020	11.30	0.35	0.35	1.42
2021	11.30	0.12	0.12	1.24
2022	11.30	0.14	0.14	1.27
2023	11.30	0.23	0.23	1.32

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	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
H2 2022	More than 100	More than 100	11.46
H1 2023	More than 100	More than 100	14.13
H2 2023	77.31	77.31	13.14

Period	P/E	Adjusted P/E	Price/book
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	More than 100	More than 100	29.76
2022	More than 100	More than 100	11.46
2023	77.31	77.31	13.14

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

Fesh Fash Snack Food Production Co. (FESH FASH)

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Fesh Fash profit jumps 65% to SAR 2.5M in 2023

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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

Share Price

Fesh Fash Snack Food Production Co. (FESH FASH)

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Fesh Fash profit jumps 65% to SAR 2.5M in 2023

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

Share Price

Fesh Fash Snack Food Production Co. (FESH FASH)

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