FADECO net profit down 37% to SAR 3.8 mln in 2022
29/03/2023
Argaam Exclusive
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Arabian Food & Dairy Factories Co. (FADECO) reported a decline of 37% in net profit to SAR 3.8 million in 2022, from SAR 6 million a year earlier.
Financials (M)
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 52.24 | 58.04 | 11.1 % |
| Gross Income | 22.04 | 23.37 | 6.0 % |
| Operating Income | 6.04 | 4.08 | (32.3 %) |
| Net Income | 6.02 | 3.77 | (37.3 %) |
| Average Shares | 1.41 | 1.41 | - |
| EPS (Riyals) | 4.27 | 2.68 | (37.3 %) |
The profit decline was attributed to higher prices of raw materials and elevated general and administrative expenses. This is despite an increase in sales.
Compared With The
Current Half Annual Comparison (M)
| Item | H2 2021 | H2 2022 | Change |
|---|---|---|---|
| Revenues | 27.44 | 30.91 | 12.6 % |
| Gross Income | 10.42 | 12.89 | 23.7 % |
| Operating Income | 2.42 | 3.99 | 65.1 % |
| Net Income | 2.54 | 3.97 | 56.5 % |
| Average Shares | 1.41 | 1.41 | - |
| EPS (Riyals) | 1.80 | 2.82 | 56.5 % |
Total shareholders’ equity, no minority interest, rose to SAR 28.96 million as of Dec. 31, 2022, from SAR 28.10 million a year earlier.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2022 | 27.13 | 9.4 % | 10.48 | (9.8 %) | 0.09 | (97.4 %) |
| H2 2022 | 30.91 | 12.6 % | 12.89 | 23.7 % | 3.99 | 65.1 % |
| 2022 | 58.04 | 11.1 % | 23.37 | 6.0 % | 4.08 | (32.3 %) |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2022 | (0.20) | (105.7 %) | (0.14) | - | (0.20) | (0.14) |
| H2 2022 | 3.97 | 56.5 % | 2.82 | - | 3.97 | 2.82 |
| 2022 | 3.77 | (37.3 %) | 2.68 | - | 3.77 | 2.68 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2022 | 38.30 % | 11.28 % | 4.29 % |
| H2 2022 | 40.27 % | 13.29 % | 6.50 % |
| 2022 | 40.27 % | 13.29 % | 6.50 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2022 | 1.41 | 1.66 | 1.66 | 18.44 |
| H2 2022 | 1.41 | 2.68 | 2.68 | 20.54 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2022 | More than 100 | More than 100 | 9.34 |
| H2 2022 | 34.01 | 34.01 | 4.43 |
Business Segments (Million)
2022
| Period | Retail outlet customer | Corporate customers |
|---|
| Current | |
| Market Cap (M Riyal) | 129.72 |
| Enterprise Value (EV) (M) | 121.21 |
| Shares Outstanding ((M)) | 1.41 |
| Book Value (BV) ( Riyal) | 22.49 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 21.63 |
| Price/book | 4.09 |
Share Price
Arabian Food and Dairy Factories Co. (FADECO)
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