Balady Poultry profit up 79% to SAR 71.9M in H1 2024, Q2 at SAR 31.3M

Balady Poultry profit up 79% to SAR 71.9M in H1 2024, Q2 at SAR 31.3M

25/07/2024 Argaam Exclusive

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Balady Poultry Trading Co. reported a net profit of SAR 71.9 million in H1 2024, a 79% increase from SAR 40.3 million a year earlier.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 344.56 449.63 30.5 %
Gross Income 48.56 82.20 69.3 %
Operating Income 36.85 68.33 85.4 %
Net Income 40.27 71.94 78.6 %
Average Shares 6.57 6.57 -
EPS (Riyals) 6.13 10.95 78.6 %

The company’s sales and revenues rose in H1 2024 by 30.49% to about SAR 449.6 from SAR 344.5 million in H1 2023.

 

The average daily production during H1 2024 reached 194,000 birds per day from 152,000 daily birds in H1 2023.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 344.56 449.63 30.5 %
Gross Income 48.56 82.20 69.3 %
Operating Income 36.85 68.33 85.4 %
Net Income 40.27 71.94 78.6 %
Average Shares 6.57 6.57 -
EPS (Riyals) 6.13 10.95 78.6 %

In Q2 2024, the company’s net profit grew 96.5% to SAR 31.33 million from SAR 15.94 million in the prior year-period.

 

Sequentially, the Saudi-listed firm’s profit fell by 22.9% from SAR 40.6 million.

 

Shareholders' equity, no minority interest, amounted to SAR 275.6 million at the end of H1 2024, compared to SAR 170.9 million at the end of H1 2023.

 

Historical Data

Period

Revenue

(SAR mln)

Net profit

(SAR mln)

EPS

(SAR)

H1 2021

162.83

9.23

1.40

H2 2021

194.67

11.31

1.73

H1 2022

278.61

36.25

5.52

H2 2022

362.67

48.85

7.43

H1 2023

344.56

40.27

6.13

H2 2023

413.16

60.64

9.23

H1 2024

449.63

71.93

10.95

 

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 162.83 - 12.65 - 5.93 -
H2 2021 194.67 - 15.28 - 10.03 -
H1 2022 278.61 71.1 % 43.73 245.6 % 34.02 473.9 %
H2 2022 362.68 86.3 % 52.71 244.9 % 42.17 320.3 %
H1 2023 344.56 23.7 % 48.56 11.0 % 36.85 8.3 %
H2 2023 413.16 13.9 % 66.78 26.7 % 54.95 30.3 %
H1 2024 449.63 30.5 % 82.20 69.3 % 68.33 85.4 %


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 9.23 - 1.40 - 9.23 1.40
H2 2021 11.32 - 1.72 - 11.32 1.72
H1 2022 36.25 293.0 % 5.52 - 36.25 5.52
H2 2022 48.85 331.7 % 7.44 - 48.85 7.44
H1 2023 40.27 11.1 % 6.13 - 40.27 6.13
H2 2023 60.64 24.1 % 9.23 - 60.64 9.23
H1 2024 71.94 78.6 % 10.95 - 71.94 10.95

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 7.81 % 5.59 % 5.75 %
H1 2022 12.47 % 10.42 % 10.05 %
H2 2022 15.04 % 13.15 % 13.27 %
H1 2023 14.32 % 12.63 % 12.60 %
H2 2023 15.22 % 13.62 % 13.32 %
H1 2024 17.27 % 15.76 % 15.37 %


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 6.57 - - 8.15
H2 2021 6.57 3.13 3.13 10.79
H1 2022 6.57 7.24 7.24 15.58
H2 2022 6.57 12.95 12.95 20.88
H1 2023 6.57 13.56 13.56 26.01
H2 2023 6.57 15.36 15.36 32.00
H1 2024 6.57 20.18 20.18 41.95

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 - - -
H1 2023 9.88 9.88 5.15
H2 2023 8.72 8.72 4.19
H1 2024 14.82 14.82 7.13

Business Segments (Million)

Compared With The
Period Finish goods sales Fodder sales Chick sales (chicken chicks)


Financial Ratios
Current
Market Cap (M Riyal) 2,621.43
Enterprise Value (EV) (M) 2,530.62
Shares Outstanding ((M)) 6.57
Book Value (BV) ( Riyal) 32.00
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 25.98
Price/book 12.47
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Share Price

Balady Poultry Trading Co.
399.00
0.00 0.00 %

Balady Poultry Trading Co. (BALADY)

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