Tanmiah net profit slumps 92% to SAR 1.5 mln in Q1 2022

Tanmiah net profit slumps 92% to SAR 1.5 mln in Q1 2022

21/04/2022 Argaam Exclusive

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Tanmiah Food Co. reported a net profit after Zakat and tax of SAR 1.5 million for Q1 2022, a slump of 92% from SAR 18.8 million in the year-earlier period, as gross profit remained under pressure due to higher commodity prices and lower recovery of subsidies.

 

Meanwhile, cost of sales increased by 23.4% year-on-year (YoY) and selling, general and administrative expenses (SG&A) rose by 34.3% YoY.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 368.34 340.62 (7.5 %)
Gross Income 89.32 70.43 (21.2 %)
Operating Income 26.12 (2.28) (108.7 %)
Net Income 18.79 1.54 (91.8 %)
Average Shares 20.00 20.00 -
EPS (Riyals) 0.94 0.08 (91.8 %)

Compare to Q4 2021, the company swung to net profit from a loss of SAR 12.36 million.

 

Shareholders’ equity, excluding minority rights, dipped to SAR 357.74 million in Q1 2022, from SAR 366.33 million a year earlier.

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2013 - - - - - -
Q2 2013 - - - - - -
Q3 2013 - - - - - -
Q4 2013 - - - - - -
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
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 295.62 - 73.03 - 24.14 -
Q2 2020 280.14 - 66.29 - 18.10 -
Q3 2020 304.29 - 79.06 - 25.04 -
Q4 2020 331.88 - 91.26 - 38.91 -
Q1 2021 368.34 24.6 % 89.32 22.3 % 26.12 8.2 %
Q2 2021 366.52 30.8 % 78.18 17.9 % 9.59 (47.0 %)
Q3 2021 389.94 28.1 % 85.14 7.7 % 11.27 (55.0 %)
Q4 2021 414.53 24.9 % 74.05 (18.9 %) (1.37) (103.5 %)
Q1 2022 340.62 (7.5 %) 70.43 (21.2 %) (2.28) (108.7 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2013 - - - - - -
Q2 2013 - - - - - -
Q3 2013 - - - - - -
Q4 2013 - - - - - -
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
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 16.05 - 0.80 - 16.05 0.80
Q2 2020 10.46 - 0.52 - 10.46 0.52
Q3 2020 17.52 - 0.88 - 17.52 0.88
Q4 2020 30.38 - 1.52 - 30.38 1.52
Q1 2021 18.79 17.1 % 0.94 - 18.79 0.94
Q2 2021 3.42 (67.3 %) 0.17 - 3.42 0.17
Q3 2021 3.71 (78.8 %) 0.19 - 3.71 0.19
Q4 2021 (12.36) (140.7 %) (0.62) - (12.36) (0.62)
Q1 2022 1.54 (91.8 %) 0.08 - 1.54 0.08

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
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 25.55 % 15.05 % 6.14 %
Q1 2021 25.37 % 16.42 % 6.01 %
Q2 2021 24.64 % 13.83 % 5.11 %
Q3 2021 23.61 % 12.39 % 3.87 %
Q4 2021 21.22 % 9.43 % 0.88 %
Q1 2022 20.36 % 7.73 % (0.24 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2013 - - - -
Q2 2013 - - - -
Q3 2013 - - - -
Q4 2013 - - - -
Q1 2014 - - - -
Q2 2014 - - - -
Q3 2014 - - - -
Q4 2014 - - - -
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 20.00 - - -
Q2 2020 20.00 - - -
Q3 2020 20.00 - - -
Q4 2020 20.00 3.72 3.72 17.38
Q1 2021 20.00 3.86 3.86 18.32
Q2 2021 20.00 3.51 3.51 18.50
Q3 2021 20.00 2.82 2.82 18.68
Q4 2021 20.00 0.68 0.68 17.81
Q1 2022 20.00 (0.18) (0.18) 17.89

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
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 38.08 38.08 5.74
Q4 2021 More than 100 More than 100 4.61
Q1 2022 NEG NEG 4.50

Business Segments (Million)

Compared With The
Period Fresh Poultry Animal Feed and Health Food franchise operator
Q1 2022 295.40 41.30 4.00

Analysts Estimates (Million)

Item Q1 2022 (e) Q1 2022 (a) Change‬
Average 12.00 1.54 (87.2 %)

Estimates vs Actual (Million)

Item Q1 2022 (e) Q1 2022 (a) Change
Al Rajhi Capital 12.00 1.54 (87.2) %


Financial Ratios
Current
Market Cap (M Riyal) 2,452.00
Enterprise Value (EV) (M) 2,803.56
Shares Outstanding ((M)) 20.00
EPS ( Riyal) (TTM) 4.77
Book Value (BV) ( Riyal) 32.50
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 25.69
P/E (TTM) 25.69
Price/book 3.77
Return on Average Assets (%) (TTM) 4.6
Return on Average Equity (%) (TTM) 15.3
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Share Price

Tanmiah Food Co.
122.60
0.40 0.33 %

Tanmiah Food Co. (TANMIAH)

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