Fesh Fash profit drops 39% to SAR 1.4 mln in H1 2023

Fesh Fash profit drops 39% to SAR 1.4 mln in H1 2023

27/08/2023 Argaam Exclusive

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Fesh Fash Snack Food Production Co. reported a net profit fall of 39% to SAR 1.4 million in the first half of 2023 from SAR 2.3 million in the prior-year period.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 15.71 17.35 10.4 %
Gross Income 4.71 4.83 2.7 %
Operating Income 2.32 1.48 (36.2 %)
Net Income 2.26 1.38 (39.0 %)
Average Shares 11.30 11.30 -
EPS (Riyals) 0.20 0.12 (39.0 %)

The half-year results were hurt by a 68% increase year-on-year (YoY) in general and administrative expenses. Fesh Fash also recorded an 8% rise YoY in operating costs as raw material prices and operating expenses jumped 12% each, compared to H1 2022.



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 15.71 17.35 10.4 %
Gross Income 4.71 4.83 2.7 %
Operating Income 2.32 1.48 (36.2 %)
Net Income 2.26 1.38 (39.0 %)
Average Shares 11.30 11.30 -
EPS (Riyals) 0.20 0.12 (39.0 %)

Shareholders’ equity, no minority interest, declined to SAR 14 million as of June 30, 2023, from SAR 15.13 million a year earlier.

 

Historical Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2020

16.55

2.45

2.17

H2 2020

15.05

1.48

1.31

H1 2021

14.13

2.05

1.81

H1 2022

15.69

(0.65)

(0.58)

H1 2021

15.71

2.26

0.2

H2 2022

15.74

(0.72)

(0.64)

H1 2023

17.35

1.38

0.12

View more financial results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %
H2 2022 15.74 0.4 % 3.42 (9.5 %) (0.57) 6.9 %
H1 2023 17.35 10.4 % 4.83 2.7 % 1.48 (36.2 %)


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 - - - - - -
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
H2 2022 (0.72) (10.9 %) (0.06) - (0.72) (0.06)
H1 2023 1.38 (39.0 %) 0.12 - 1.38 0.12

Profitability

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 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 %
H2 2022 25.82 % 11.31 % 4.89 %
H1 2023 24.93 % 8.51 % 1.99 %


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

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


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
more

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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