Americana reports 52% net profit decline to SAR 105.1M in Q1 2024

Americana reports 52% net profit decline to SAR 105.1M in Q1 2024

07/05/2024 Argaam Exclusive

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Americana Restaurants International reported a net profit of SAR 105.1 million in Q1 2024, a slump of 52% from SAR 218 million in the year-earlier period, as revenues dropped by 16.3% year-on-year (YoY) and sales declined on the onset of Ramadan.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 2,210.34 1,850.64 (16.3 %)
Gross Income 1,127.01 953.28 (15.4 %)
Operating Income 249.28 127.86 (48.7 %)
Net Income 217.98 105.09 (51.8 %)
Average Shares 8,423.63 8,423.63 -
EPS (Halala) 2.59 1.25 (51.8 %)

The company also cited higher depreciation charges and rent expenses on account of new store openings during the period.

 

On a quarterly basis, net earnings declined 14.5% from SAR 122.88 million, as sales declined by 4.4% sequentially due to geopolitical conditions in Q4 2023. Americana reported higher depreciation charges and rent expenses on account of new store openings during the period.

 

 

Shareholders’ equity, after minority interest, reached SAR 1.73 billion by March 31, 2024, compared to SAR 883.04 million in the prior-year period.

 

Attached Documents

 

  

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 2,024.14 - 1,075.61 - 247.35 -
Q4 2021 2,039.35 - 1,069.89 - 229.19 -
Q1 2022 2,165.91 - 1,159.59 - 300.49 -
Q2 2022 2,153.82 - 1,112.19 - 272.68 -
Q3 2022 2,321.66 14.7 % 1,177.89 9.5 % 282.43 14.2 %
Q4 2022 2,278.16 11.7 % 1,163.10 8.7 % 261.48 14.1 %
Q1 2023 2,210.34 2.1 % 1,127.01 (2.8 %) 249.28 (17.0 %)
Q2 2023 2,445.23 13.5 % 1,292.49 16.2 % 361.27 32.5 %
Q3 2023 2,458.28 5.9 % 1,298.11 10.2 % 327.51 16.0 %
Q4 2023 1,935.41 (15.0 %) 1,013.24 (12.9 %) 149.67 (42.8 %)
Q1 2024 1,850.64 (16.3 %) 953.28 (15.4 %) 127.86 (48.7 %)


Profit Performance (Million)

Period Net Income Change EPS(Halala) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO 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 - - - - - -
Q2 2020 - - - - - -
Q3 2020 - - - - - -
Q4 2020 - - - - - -
Q1 2021 - - - - - -
Q2 2021 - - - - - -
Q3 2021 229.59 - 2.73 - 229.59 0.03
Q4 2021 185.13 - 2.20 - 185.13 0.02
Q1 2022 269.90 - 3.20 - 269.90 0.03
Q2 2022 184.85 - 2.19 (95.56) 280.41 0.03
Q3 2022 279.56 21.8 % 3.32 2.18 277.38 0.03
Q4 2022 237.79 28.4 % 2.82 8.87 228.92 0.03
Q1 2023 217.98 (19.2 %) 2.59 - 217.98 0.03
Q2 2023 324.89 75.8 % 3.86 - 324.89 0.04
Q3 2023 307.24 9.9 % 3.65 - 307.24 0.04
Q4 2023 122.88 (48.3 %) 1.46 - 122.88 0.01
Q1 2024 105.09 (51.8 %) 1.25 - 105.09 0.01

Profitability

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 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 - - -
Q2 2021 - - -
Q3 2021 - - -
Q4 2021 - - -
Q1 2022 - - -
Q2 2022 52.69 % 21.88 % 11.51 %
Q3 2022 52.06 % 21.82 % 11.67 %
Q4 2022 51.72 % 21.76 % 11.85 %
Q1 2023 51.10 % 21.46 % 11.21 %
Q2 2023 51.43 % 22.16 % 11.34 %
Q3 2023 51.97 % 22.54 % 11.49 %
Q4 2023 52.28 % 22.48 % 10.75 %
Q1 2024 52.44 % 22.45 % 9.90 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Halala) Adjusted EPS (Halala) 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 - - - -
Q2 2020 - - - -
Q3 2020 - - - -
Q4 2020 - - - -
Q1 2021 - - - -
Q2 2021 - - - -
Q3 2021 8,423.63 - - 0.05
Q4 2021 8,423.63 - - 0.06
Q1 2022 8,423.63 - - 0.04
Q2 2022 8,423.63 10.32 11.46 0.06
Q3 2022 8,423.63 10.92 12.02 0.10
Q4 2022 8,423.63 11.54 12.54 0.13
Q1 2023 8,423.63 10.92 11.93 0.10
Q2 2023 8,423.63 12.59 12.46 0.15
Q3 2023 8,423.63 12.91 12.81 0.18
Q4 2023 8,423.63 11.55 11.55 0.20
Q1 2024 8,423.63 10.21 10.21 0.21

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 - - -
Q4 2021 - - -
Q1 2022 - - -
Q2 2022 - - -
Q3 2022 - - -
Q4 2022 26.43 24.32 24.08
Q1 2023 36.98 33.87 38.54
Q2 2023 34.08 34.44 29.57
Q3 2023 32.44 32.71 23.19
Q4 2023 27.96 27.96 16.51
Q1 2024 32.61 32.61 16.16

Business Segments (Million)

Compared With The
Period Food and Beverages Real Estate Rental Revenues Other Revenues
Q1 2022 2,162.51 3.41 -
Q2 2022 2,149.95 3.87 -
Q3 2022 2,318.34 3.32 -
Q4 2022 2,275.22 2.94 -
Q1 2023 2,208.11 2.23 -
Q2 2023 2,442.97 2.26 -
Q3 2023 2,455.77 2.51 -
Q4 2023 1,923.74 2.51 9.16
Q1 2024 1,840.04 2.21 8.39

Analysts Estimates (Million)

Item Q1 2024 (e) Q1 2024 (a) Change‬
Average 189.58 105.09 (44.6 %)

Estimates vs Actual (Million)

Item Q1 2024 (e) Q1 2024 (a) Change
AlJazira Capital 132.10 105.09 (25.7) %
GIB Capital 135.00 105.09 (28.5) %
SNB Capital 153.00 105.09 (45.6) %
Citi Bank Group 170.52 105.09 (62.3) %
Sico 202.13 105.09 (92.3) %
Hermes 221.31 105.09 (110.6) %
Bank of America 243.82 105.09 (132.0) %
United Securities Company 258.75 105.09 (146.2) %


Financial Ratios
Current
Market Cap (M Riyal) 20,637.89
Enterprise Value (EV) (M) 19,668.74
Shares Outstanding ((M)) 8,423.63
EPS (Halala) (TTM) 6.68
Book Value (BV) ( Riyal) 0.16
Par Value ( Halala) 7.50
Adjusted P/E (Last12) 36.65
P/E (TTM) 36.65
Price/book 15.12
Return on Average Assets (%) (TTM) 10.1
Return on Average Equity (%) (TTM) 39.0
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Share Price

Americana Restaurants International PLC - Foreign Company
2.45
(0.07) (2.78 %)

Americana Restaurants International PLC - Foreign Company (AMERICANA)

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