AlBabtain Food profit up 33% to SAR 4M in H1 2024

AlBabtain Food profit up 33% to SAR 4M in H1 2024

22/08/2024 Argaam Exclusive

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Abdulaziz and Mansour Ibrahim AlBabtain Co. (AlBabtain Food) reported a net profit increase of 33% to SAR 4 million in the first half of 2024, compared to SAR 3 million in H1 2023.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 65.16 90.87 39.5 %
Gross Income 17.19 18.99 10.4 %
Operating Income 3.16 3.47 10.0 %
Net Income 3.04 4.04 32.8 %
Average Shares 3.40 3.40 -
EPS (Riyals) 0.89 1.19 32.8 %

The profit increase was fueled by a 39.4% increase in sales, due to the diversity of the company's products and the increase in customers.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 65.16 90.87 39.5 %
Gross Income 17.19 18.99 10.4 %
Operating Income 3.16 3.47 10.0 %
Net Income 3.04 4.04 32.8 %
Average Shares 3.40 3.40 -
EPS (Riyals) 0.89 1.19 32.8 %

Shareholders’ equity, no minority interest, increased to SAR 66.2 million as of June 30, 2024, from SAR 60.9 million a year earlier.

 

Historical Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2021

55.10

5.78

1.70

H2 2021

72.64

10.09

2.97

H1 2022

62.69

5.66

1.67

H2 2022

64.20

8.73

2.57

H1 2023

65.16

3.04

0.89

H2 2023

79.15

2.76

0.81

H1 2024

90.9

4.0

1.19

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 - - - - - -
H2 2020 - - - - - -
H1 2021 55.10 - 17.14 - 6.11 -
H2 2021 72.64 - 24.30 - 10.36 -
H1 2022 62.69 13.8 % 18.18 6.1 % 4.33 (29.2 %)
H2 2022 64.20 (11.6 %) 18.59 (23.5 %) 5.77 (44.3 %)
H1 2023 65.16 3.9 % 17.19 (5.4 %) 3.16 (27.1 %)
H2 2023 79.17 23.3 % 17.58 (5.5 %) 2.52 (56.3 %)
H1 2024 90.87 39.5 % 18.99 10.4 % 3.47 10.0 %


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 - - - - - -
H2 2020 - - - - - -
H1 2021 5.78 - 1.70 - 5.78 1.70
H2 2021 10.09 - 2.97 - 10.09 2.97
H1 2022 5.66 (2.0 %) 1.67 - 5.66 1.67
H2 2022 8.72 (13.6 %) 2.57 - 8.72 2.57
H1 2023 3.04 (46.3 %) 0.89 - 3.04 0.89
H2 2023 2.78 (68.1 %) 0.82 - 2.78 0.82
H1 2024 4.04 32.8 % 1.19 - 4.04 1.19

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 - - -
H1 2021 - - -
H2 2021 32.43 % 13.76 % 12.43 %
H1 2022 31.39 % 11.70 % 11.64 %
H2 2022 28.98 % 8.85 % 11.34 %
H1 2023 27.67 % 8.18 % 9.09 %
H2 2023 24.09 % 5.40 % 4.03 %
H1 2024 21.50 % 4.79 % 4.01 %


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 - - - -
H2 2020 - - - -
H1 2021 3.40 - - 11.88
H2 2021 3.40 4.67 4.67 14.15
H1 2022 3.40 4.63 4.63 14.82
H2 2022 3.40 4.23 4.23 17.51
H1 2023 3.40 3.46 3.46 17.90
H2 2023 3.40 1.71 1.71 18.77
H1 2024 3.40 2.00 2.00 19.46

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 - - -
H2 2022 11.86 11.86 2.87
H1 2023 15.09 15.09 2.92
H2 2023 25.80 25.80 2.35
H1 2024 21.40 21.40 2.20

Business Segments (Million)

Compared With The
Period Bakery & sweets materials - babtin Chocolate Materials-babtin Ice cream materials - babtin Café Shop Materials - babtin Cheese products materials - babtin


Financial Ratios
Current
Market Cap (M Riyal) 163.20
Enterprise Value (EV) (M) 161.12
Shares Outstanding ((M)) 3.40
Book Value (BV) ( Riyal) 18.77
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 28.05
Price/book 2.56
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Share Price

Abdulaziz and Mansour Ibrahim Albabtin Co.
48.00
(4.40) (8.40 %)

Abdulaziz and Mansour Ibrahim Albabtin Co. (ALBABTAIN FOOD)

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