Tanmiah profit rises 26% to SAR 95.8M in 2024; Q4 at SAR 26.8M

16/02/2025 Argaam Exclusive

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Tanmiah Food Co. reported a net profit of SAR 95.8 million for 2024, an increase of 26% from SAR 75.9 million in the year earlier period.

Financials (M)

Item	2023	2024	Change‬
Revenues	2,093.09	2,563.48	22.5 %
Gross Income	494.77	654.40	32.3 %
Operating Income	121.91	171.90	41.0 %
Net Income	75.94	95.82	26.2 %
Average Shares	20.00	20.00	-
Earnings Per Share before unusual items	3.80	4.79	26.2 %
EPS (Riyals)	3.80	4.79	26.2 %

Revenue increased 22.5% in 2024 to SAR 2.56 billion, supported by continued expansion of fresh poultry capacity, increased sales volumes of fresh poultry, broader geographical coverage, focused marketing, and channel expansion.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2023	Q4 2024	Change‬
Revenues	576.22	684.88	18.9 %
Gross Income	151.51	178.43	17.8 %
Operating Income	43.21	52.61	21.8 %
Net Income	26.37	26.73	1.4 %
Average Shares	20.00	20.00	-
Earnings Per Share before unusual items	1.32	1.34	1.4 %
EPS (Riyals)	1.32	1.34	1.4 %

Item	Q3 2024	Q4 2024	Change‬
Revenues	657.44	684.88	4.2 %
Gross Income	167.44	178.43	6.6 %
Operating Income	44.50	52.61	18.2 %
Net Income	24.12	26.73	10.8 %
Average Shares	20.00	20.00	-
Earnings Per Share before unusual items	1.21	1.34	10.8 %
EPS (Riyals)	1.21	1.34	10.8 %

Q4 2024 net profit added 2% to SAR 26.8 million from SAR 26.4 million in the year-earlier period.

Tanmiah reported an 18.9% increase in revenues to SAR 684.9 million in Q4 2024, supported by a solid growth across all business segments. Gross profit increased 17.7% in Q4 to SAR 178.4 million, as a result of the robust top line performance and operational efficiency.

On a sequential basis, net earnings increased 11% from SAR 24.1 million in Q3 2024.

Total shareholders’ equity, after minority interest, stood at SAR 682 million by Dec. 31, 2024, compared to SAR 618.8 million a year earlier.

Attached Documents

View More Financial Results

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	Earnings Per Share before unusual items
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	(76.93)	-	(7.69)	(135.06)	58.13	5.81
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	74.90	197.4 %	7.49	-	74.90	7.49
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	70.82	(5.4 %)	3.54	-	70.82	3.54
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
2020	74.41	5.1 %	3.72	-	74.41	3.72
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)
2021	13.56	(81.8 %)	0.68	-	13.56	0.68
Q1 2022	1.54	(91.8 %)	0.08	-	1.54	0.08
Q2 2022	30.20	783.6 %	1.51	-	30.20	1.51
Q3 2022	31.74	754.8 %	1.59	-	31.74	1.59
Q4 2022	123.33	1097.5 %	6.17	101.93	21.40	1.07
2022	186.81	1278.0 %	9.34	101.93	84.88	4.24
Q1 2023	20.99	1261.1 %	1.05	-	20.99	1.05
Q2 2023	11.41	(62.2 %)	0.57	-	11.41	0.57
Q3 2023	17.17	(45.9 %)	0.86	-	17.17	0.86
Q4 2023	26.37	(78.6 %)	1.32	-	26.37	1.32
2023	75.94	(59.3 %)	3.80	-	75.94	3.80
Q1 2024	20.96	(0.2 %)	1.05	-	20.96	1.05
Q2 2024	24.02	110.5 %	1.20	-	24.02	1.20
Q3 2024	24.12	40.5 %	1.21	-	24.12	1.21
Q4 2024	26.73	1.4 %	1.34	-	26.73	1.34
2024	95.82	26.2 %	4.79	-	95.82	4.79

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	Earnings Per Share before unusual items
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	(76.93)	-	(7.69)	(135.06)	58.13	5.81
2018	74.90	197.4 %	7.49	-	74.90	7.49
2019	70.82	(5.4 %)	3.54	-	70.82	3.54
2020	74.41	5.1 %	3.72	-	74.41	3.72
2021	13.56	(81.8 %)	0.68	-	13.56	0.68
2022	186.81	1278.0 %	9.34	101.93	84.88	4.24
2023	75.94	(59.3 %)	3.80	-	75.94	3.80
2024	95.82	26.2 %	4.79	-	95.82	4.79

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	995.20	-	208.44	-	59.34	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	1,091.36	9.7 %	242.10	16.1 %	94.82	59.8 %
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	1,145.66	5.0 %	278.05	14.8 %	104.93	10.7 %
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	-
2020	1,211.93	5.8 %	309.65	11.4 %	106.19	1.2 %
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 %)
2021	1,209.57	(0.2 %)	231.82	(25.1 %)	9.71	(90.9 %)
Q1 2022	340.62	(7.5 %)	70.43	(21.2 %)	(2.28)	(108.7 %)
Q2 2022	436.10	19.0 %	109.24	39.7 %	28.13	193.3 %
Q3 2022	471.54	20.9 %	121.31	42.5 %	35.15	212.0 %
Q4 2022	478.78	15.5 %	119.22	61.0 %	33.89	2568.1 %
2022	1,727.04	42.8 %	420.19	81.3 %	94.89	877.4 %
Q1 2023	484.48	42.2 %	119.95	70.3 %	32.21	1510.2 %
Q2 2023	498.66	14.3 %	105.94	(3.0 %)	17.84	(36.6 %)
Q3 2023	533.74	13.2 %	117.37	(3.2 %)	28.65	(18.5 %)
Q4 2023	576.22	20.4 %	151.51	27.1 %	43.21	27.5 %
2023	2,093.09	21.2 %	494.77	17.8 %	121.91	28.5 %
Q1 2024	581.36	20.0 %	144.46	20.4 %	35.50	10.2 %
Q2 2024	639.81	28.3 %	164.07	54.9 %	39.28	120.2 %
Q3 2024	657.44	23.2 %	167.44	42.7 %	44.50	55.3 %
Q4 2024	684.88	18.9 %	178.43	17.8 %	52.61	21.8 %
2024	2,563.48	22.5 %	654.40	32.3 %	171.90	41.0 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	995.20	-	208.44	-	59.34	-
2018	1,091.36	9.7 %	242.10	16.1 %	94.82	59.8 %
2019	1,145.66	5.0 %	278.05	14.8 %	104.93	10.7 %
2020	1,211.93	5.8 %	309.65	11.4 %	106.19	1.2 %
2021	1,209.57	(0.2 %)	231.82	(25.1 %)	9.71	(90.9 %)
2022	1,727.04	42.8 %	420.19	81.3 %	94.89	877.4 %
2023	2,093.09	21.2 %	494.77	17.8 %	121.91	28.5 %
2024	2,563.48	22.5 %	654.40	32.3 %	171.90	41.0 %

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
2017	20.94 %	9.09 %	5.84 %
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
2018	22.18 %	10.47 %	6.86 %
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
2019	24.27 %	14.99 %	6.18 %
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	25.55 %	-	6.14 %
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 %
2021	19.17 %	8.62 %	1.12 %
Q1 2022	20.36 %	7.73 %	(0.24 %)
Q2 2022	21.43 %	9.03 %	1.46 %
Q3 2022	22.55 %	10.56 %	3.07 %
Q4 2022	24.33 %	11.67 %	4.91 %
2022	24.33 %	11.67 %	4.91 %
Q1 2023	25.11 %	12.81 %	5.58 %
Q2 2023	24.12 %	12.00 %	4.42 %
Q3 2023	23.17 %	11.34 %	3.56 %
Q4 2023	23.64 %	12.08 %	3.63 %
2023	23.64 %	12.08 %	3.63 %
Q1 2024	23.71 %	12.07 %	3.47 %
Q2 2024	24.77 %	12.51 %	3.80 %
Q3 2024	25.56 %	13.04 %	3.89 %
Q4 2024	25.53 %	13.36 %	3.74 %
2024	25.53 %	13.36 %	3.74 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2015	-	-	-
2016	-	-	-
2017	20.94 %	9.09 %	5.84 %
2018	22.18 %	10.47 %	6.86 %
2019	24.27 %	14.99 %	6.18 %
2020	25.55 %	15.05 %	6.14 %
2021	19.17 %	8.62 %	1.12 %
2022	24.33 %	11.67 %	4.91 %
2023	23.64 %	12.08 %	3.63 %
2024	25.53 %	13.36 %	3.74 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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	24.70 %	-	5.43 %
Q2 2020	23.66 %	18.98 %	3.74 %
Q3 2020	25.98 %	14.63 %	5.76 %
Q4 2020	27.50 %	18.23 %	9.16 %
Q1 2021	24.25 %	14.30 %	5.10 %
Q2 2021	21.33 %	8.70 %	0.93 %
Q3 2021	21.83 %	9.10 %	0.95 %
Q4 2021	17.86 %	6.07 %	(2.98 %)
Q1 2022	20.68 %	7.13 %	0.45 %
Q2 2022	25.05 %	13.27 %	6.92 %
Q3 2022	25.73 %	14.47 %	6.73 %
Q4 2022	24.90 %	10.68 %	4.47 %
Q1 2023	24.76 %	12.88 %	4.33 %
Q2 2023	21.25 %	10.10 %	2.29 %
Q3 2023	21.99 %	11.70 %	3.22 %
Q4 2023	26.29 %	13.48 %	4.58 %
Q1 2024	24.85 %	12.68 %	3.60 %
Q2 2024	25.64 %	12.14 %	3.75 %
Q3 2024	25.47 %	13.86 %	3.67 %
Q4 2024	26.05 %	14.60 %	3.90 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Earnings Per Share before unusual items (Riyal)	Book Value (BV)
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
Q2 2022	20.00	1.15	1.15	18.89
Q3 2022	20.00	2.56	2.56	20.48
Q4 2022	20.00	9.34	4.24	30.72
Q1 2023	20.00	10.31	5.22	31.77
Q2 2023	20.00	9.37	4.28	28.85
Q3 2023	20.00	8.65	3.55	29.71
Q4 2023	20.00	3.80	3.80	30.94
Q1 2024	20.00	3.80	3.80	31.99
Q2 2024	20.00	4.43	4.43	31.29
Q3 2024	20.00	4.77	4.77	32.50
Q4 2024	20.00	4.79	4.79	34.10

Period	Shares Outstanding (M)	EPS (Riyal)	Earnings Per Share before unusual items (Riyal)	Book Value (BV)
2015	-	-	-	-
2016	-	-	-	-
2017	10.00	(7.69)	5.81	10.92
2018	10.00	7.49	7.49	17.83
2019	20.00	3.54	3.54	14.34
2020	20.00	3.72	3.72	17.38
2021	20.00	0.68	0.68	17.81
2022	20.00	9.34	4.24	30.72
2023	20.00	3.80	3.80	30.94
2024	20.00	4.79	4.79	34.10

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
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
Q2 2022	59.50	59.50	3.64
Q3 2022	41.32	41.32	5.16
Q4 2022	14.05	30.91	4.27
Q1 2023	12.47	24.65	4.05
Q2 2023	13.46	29.51	4.37
Q3 2023	10.83	26.38	3.15
Q4 2023	27.13	27.13	3.33
Q1 2024	37.15	37.15	4.41
Q2 2024	27.66	27.66	3.91
Q3 2024	30.17	30.17	4.43
Q4 2024	25.26	25.26	3.55

Period	P/E	Adjusted P/E	Price/book
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	More than 100	More than 100	4.61
2022	14.05	30.91	4.27
2023	27.13	27.13	3.33
2024	25.26	25.26	3.55

Business Segments (Million)

Compared With The

Period	Fresh Poultry	Animal Feed and Health	Food franchise operator
Q1 2022	295.40	41.30	4.00
Q2 2022	380.50	49.70	5.80
Q3 2022	394.70	70.10	6.70
Q4 2022	392.30	73.40	13.10
Q1 2023	406.00	61.50	17.00
Q2 2023	419.70	59.00	20.00
Q3 2023	433.41	76.71	23.68
Q4 2023	463.10	85.50	27.70
Q1 2024	480.40	72.50	28.50
Q2 2024	491.00	117.70	31.10
Q3 2024	494.22	129.23	34.35
Q4 2024	506.50	135.70	42.70

Period	Fresh Poultry	Animal Feed and Health	Food franchise operator
2021	1,078.70	130.40	0.38
2022	1,462.90	234.50	29.60
2023	1,726.90	278.10	88.20
2024	1,971.90	450.20	141.40

Analysts Estimates (Million)

Item	Q4 2024 (e)	Q4 2024 (a)	Change‬
Average	21.00	26.73	27.28 %

Estimates vs Actual (Million)

Item	Q4 2024 (e)	Q4 2024 (a)	Change
GIB Capital	23.00	26.73	16.2 %
Al Rajhi Capital	19.00	26.73	40.7 %

Financial Ratios

	Current
Market Cap (M Riyal)	2,376.00
Enterprise Value (EV) (M)	3,120.10
Shares Outstanding ((M))	20.00
EPS ( Riyal) (TTM)	4.79
Book Value (BV) ( Riyal)	34.10
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	24.80
P/E (TTM)	24.80
Price/book	3.48
Return on Average Assets (%) (TTM)	4.0
Return on Average Equity (%) (TTM)	7.1

Tanmiah Food Co. (TANMIAH)

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Tanmiah profit rises 26% to SAR 95.8M in 2024; Q4 at SAR 26.8M

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Financials (M)

Current Quarter Comparison (M)

Profit Performance (Million)

Profit Performance (Million)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2024 Q4

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Tanmiah Food Co. (TANMIAH)

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Tanmiah profit rises 26% to SAR 95.8M in 2024; Q4 at SAR 26.8M

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Financials (M)

Current Quarter Comparison (M)

Profit Performance (Million)

Profit Performance (Million)

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Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

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Business Segments (Million) Q4 2024

Revenue by Business Segment (Latest) 2024 Q4

Analysts Estimates (Million)

Analysts Estimates (Million)

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Financial Ratios

Share Price

Tanmiah Food Co. (TANMIAH)

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Business Segments (Million)