Ghida Al-Sultan net profit down 59% to SAR 8M in 2023
28/03/2024
Argaam Exclusive
View other reports
Ghida Al-Sultan Co. posted SAR 8 million in net profit for 2023, down 59% from SAR 19.5 million in 2022.
Financials (M)
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 146.11 | 166.33 | 13.8 % |
| Gross Income | 59.92 | 63.50 | 6.0 % |
| Operating Income | 20.99 | 7.03 | (66.5 %) |
| Net Income | 19.47 | 8.00 | (58.9 %) |
| Average Shares | 3.20 | 3.20 | - |
| EPS (Riyals) | 6.08 | 2.50 | (58.9 %) |
Compared With The
Current Half Annual Comparison (M)
| Item | H2 2022 | H2 2023 | Change |
|---|---|---|---|
| Revenues | 79.01 | 85.84 | 8.6 % |
| Gross Income | 31.74 | 29.20 | (8.0 %) |
| Operating Income | 13.50 | 0.56 | (95.9 %) |
| Net Income | 12.32 | 1.76 | (85.7 %) |
| Average Shares | 3.20 | 3.20 | - |
| EPS (Riyals) | 3.85 | 0.55 | (85.7 %) |
The year-on-year (YoY) profit drop was ascribed to the increase in selling and distribution expenses of SAR 16.8 million and the decline in the gross profit margin as a percentage of sales by 3% due to higher rents and raw materials prices.
Revenues climbed by 14% YoY in 2023, driven by the 12% spike in average sales per branch and the expanded number of branches.
Shareholders' equity (no minority interest) surged to SAR 59.99 million, compared to SAR 51.75 million in 2022.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2023 | 80.49 | 19.9 % | 34.30 | 21.7 % | 6.48 | (13.6 %) |
| H2 2023 | 85.84 | 8.6 % | 29.20 | (8.0 %) | 0.56 | (95.9 %) |
| 2023 | 166.33 | 13.8 % | 63.50 | 6.0 % | 7.03 | (66.5 %) |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2023 | 6.24 | (12.7 %) | 1.95 | - | 6.24 | 1.95 |
| H2 2023 | 1.76 | (85.7 %) | 0.55 | - | 1.76 | 0.55 |
| 2023 | 8.00 | (58.9 %) | 2.50 | - | 8.00 | 2.50 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2023 | 41.41 % | 19.34 % | 11.64 % |
| H2 2023 | 38.18 % | 12.24 % | 4.81 % |
| 2023 | 38.18 % | 12.24 % | 4.81 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2023 | 3.20 | 5.80 | 5.80 | 18.12 |
| H2 2023 | 3.20 | 2.50 | 2.50 | 18.75 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2023 | 12.24 | 12.24 | 3.92 |
| H2 2023 | 26.00 | 26.00 | 3.47 |
| Current | |
| Market Cap (M Riyal) | 166.72 |
| Enterprise Value (EV) (M) | 157.26 |
| Shares Outstanding ((M)) | 3.20 |
| Book Value (BV) ( Riyal) | 18.75 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 20.84 |
| Price/book | 2.78 |
Share Price
Ghida Alsultan for Fast Food Co. (GHIDA ALSULTAN)
Follow us on
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}