FADECO posts 45% profit rise to SAR 3M in H1 2024

FADECO posts 45% profit rise to SAR 3M in H1 2024

29/08/2024 Argaam Exclusive

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Arabian Food and Dairy Factories Co. (FADECO) reported a net profit of SAR 3 million in the first half of 2024, up 45% compared to SAR 2.1 million in the prior-year period.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 30.02 29.41 (2.0 %)
Gross Income 13.51 14.73 9.0 %
Operating Income 2.14 3.17 48.0 %
Net Income 2.09 3.02 44.6 %
Average Shares 1.41 1.41 -
EPS (Riyals) 1.48 2.14 44.6 %


Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 30.02 29.41 (2.0 %)
Gross Income 13.51 14.73 9.0 %
Operating Income 2.14 3.17 48.0 %
Net Income 2.09 3.02 44.6 %
Average Shares 1.41 1.41 -
EPS (Riyals) 1.48 2.14 44.6 %

The positive performance was driven by lower raw material prices, along with higher product prices.

 

Shareholders’ equity, no minority interest, stood at SAR 34.71 million as of June 30, 2024, compared to SAR 29.40 million a year earlier.

 

Historical Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR/share)

H1 2020

24.42

3.75

2.66

H2 2020

29.03

5.63

3.99

H1 2021

24.80

3.48

2.47

H2 2021

27.44

2.54

1.80

H1 2022

27.13

(0.20)

(0.14)

H2 2022

30.91

3.97

2.82

H1 2023

30.02

2.09

1.48

H2 2023

32.17

3.91

2.77

H1 2024

29.41

3.02

2.14

 

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 24.42 - 11.18 - 4.00 -
H2 2020 29.02 - 13.84 - 5.85 -
H1 2021 24.80 1.5 % 11.62 3.9 % 3.62 (9.5 %)
H2 2021 27.44 (5.4 %) 10.42 (24.7 %) 2.42 (58.7 %)
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 %
H1 2023 30.02 10.7 % 13.51 28.9 % 2.14 2202.7 %
H2 2023 32.17 4.1 % 15.25 18.3 % 3.93 (1.6 %)
H1 2024 29.41 (2.0 %) 14.73 9.0 % 3.17 48.0 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 3.75 - 2.66 - 3.75 2.66
H2 2020 5.63 - 4.00 - 5.63 4.00
H1 2021 3.48 (7.1 %) 2.47 - 3.48 2.47
H2 2021 2.54 (54.9 %) 1.80 - 2.54 1.80
H1 2022 (0.20) (105.7 %) (0.14) - (0.20) (0.14)
H2 2022 3.97 56.5 % 2.82 - 3.97 2.82
H1 2023 2.09 1149.5 % 1.48 - 2.09 1.48
H2 2023 3.91 (1.5 %) 2.77 - 3.91 2.77
H1 2024 3.02 44.6 % 2.14 - 3.02 2.14

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 46.80 % - 17.55 %
H1 2021 47.29 % 21.14 % 16.93 %
H2 2021 42.19 % 18.58 % 11.52 %
H1 2022 38.30 % 11.28 % 4.29 %
H2 2022 40.27 % 13.29 % 6.50 %
H1 2023 43.33 % 15.80 % 9.94 %
H2 2023 46.25 % 15.38 % 9.64 %
H1 2024 48.69 % 17.55 % 11.25 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2015 - - - -
H2 2015 - - - -
H1 2016 - - - -
H2 2016 - - - -
H1 2017 - - - -
H2 2017 - - - -
H1 2018 - - - -
H2 2018 - - - -
H1 2019 - - - -
H2 2019 - - - -
H1 2020 1.41 - - -
H2 2020 1.41 6.65 6.65 19.54
H1 2021 1.41 6.46 6.46 20.94
H2 2021 1.41 4.27 4.27 19.93
H1 2022 1.41 1.66 1.66 18.44
H2 2022 1.41 2.68 2.68 20.54
H1 2023 1.41 4.30 4.30 20.86
H2 2023 1.41 4.25 4.25 22.49
H1 2024 1.41 4.91 4.91 24.62

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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 - - -
H2 2021 - - -
H1 2022 More than 100 More than 100 9.34
H2 2022 34.01 34.01 4.43
H1 2023 25.28 25.28 5.21
H2 2023 21.74 21.74 4.11
H1 2024 17.30 17.30 3.45

Business Segments (Million)

Compared With The
Period Retail outlet customer Corporate customers


Financial Ratios
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
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Share Price

Arabian Food and Dairy Factories Co.
92.00
8.00 9.52 %

Arabian Food and Dairy Factories Co. (FADECO)

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