Saudi Fisheries narrows loss to SAR 34.2 mln in 2021, Q4 profit at SAR 3.7 mln

Saudi Fisheries narrows loss to SAR 34.2 mln in 2021, Q4 profit at SAR 3.7 mln

22/03/2022 Argaam Exclusive

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Saudi Fisheries Co. narrowed its net loss after Zakat and tax to SAR 34.2 million in 2021, compared to SAR 40.7 million a year earlier.



Financials (M)

Item 2020 2021 Change‬
Revenues 40.95 47.59 16.2 %
Gross Income 2.35 4.77 102.5 %
Operating Income (36.72) (45.70) (24.5 %)
Net Income (40.65) (34.19) 15.9 %
Average Shares 40.00 40.00 -
EPS (Riyals) (1.02) (0.85) 15.9 %

The lower losses were driven by a 16% rise in sales year-on-year (YoY) due to resumption of operations at the shrimp farms in Al-Huraidah. In addition, the cost of sales decreased and other income increased YoY.

 

The company turned to a net profit after Zakat and tax of SAR 3.7 million in Q4 2021, from a net loss after Zakat and tax of SAR 14.5 million in Q4 2020.

 

Sequentially, Saudi Fisheries swung to aprofit from a loss of SAR 18.5 million in Q3 2021.



Current Quarter Comparison (M)

Compared With The
Item Q4 2020 Q4 2021 Change‬
Revenues 10.85 13.80 27.2 %
Gross Income (10.36) 7.69 174.2 %
Operating Income (13.09) (8.21) 37.3 %
Net Income (14.54) 3.66 125.2 %
Average Shares 40.00 40.00 -
EPS (Riyals) (0.36) 0.09 125.2 %

Total shareholders’ equity, excluding minority interest, rose to SAR 271.269 million in 2021 from SAR 305.395 million in the year-earlier period.

 

Accumulated losses at the end of the current period amounted to SAR 128.6 million, or 32.15% of the company’s capital.

View more financial results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2012 18.45 (30.9 %) 1.03 (77.5 %) (7.43) (64.4 %)
Q2 2012 19.50 (29.3 %) 0.81 (83.3 %) (7.89) (71.6 %)
Q3 2012 14.03 (9.7 %) (0.48) (114.2 %) (9.76) (77.6 %)
Q4 2012 18.37 10.0 % (1.25) 91.7 % (11.18) 54.8 %
Q1 2013 21.00 13.9 % 4.07 294.1 % (8.07) (8.5 %)
Q2 2013 18.47 (5.3 %) (4.00) (592.8 %) (11.84) (50.1 %)
Q3 2013 17.62 25.6 % (2.35) (392.5 %) (8.93) 8.6 %
Q4 2013 20.45 11.3 % 2.64 310.9 % (14.24) (27.3 %)
Q1 2014 22.74 8.3 % (0.01) (100.2 %) (8.59) (6.4 %)
Q2 2014 18.43 (0.2 %) (4.11) (2.9 %) (13.04) (10.1 %)
Q3 2014 17.31 (1.7 %) 0.95 140.2 % (8.55) 4.2 %
Q4 2014 21.43 4.8 % 0.37 (86.1 %) (11.78) 17.3 %
Q1 2015 24.43 7.5 % 0.32 4075.0 % (9.02) (5.0 %)
Q2 2015 21.00 13.9 % 0.78 118.9 % (8.03) 38.4 %
Q3 2015 18.69 7.9 % (6.53) (789.7 %) (14.96) (75.0 %)
Q4 2015 19.26 (10.1 %) (2.08) (667.6 %) (11.49) 2.4 %
Q1 2016 19.48 (20.3 %) 0.34 6.0 % (8.44) 6.4 %
Q2 2016 16.88 (19.6 %) 0.68 (12.5 %) (8.17) (1.7 %)
Q3 2016 12.73 (31.9 %) (0.15) 97.7 % (8.94) 40.3 %
Q4 2016 11.17 (42.0 %) (2.21) (6.1 %) (11.61) (1.0 %)
Q1 2017 10.97 (43.7 %) 0.04 (88.1 %) (7.59) 10.1 %
Q2 2017 7.74 (54.2 %) (0.75) (209.2 %) (8.16) 0.1 %
Q3 2017 7.69 (39.6 %) (0.68) (350.7 %) (7.92) 11.4 %
Q4 2017 9.16 (18.0 %) (1.00) 54.9 % (9.70) 16.4 %
Q1 2018 7.37 (32.8 %) (0.17) (527.5 %) (6.16) 18.8 %
Q2 2018 4.72 (38.9 %) 0.80 207.8 % (6.79) 16.9 %
Q3 2018 3.76 (51.1 %) 0.84 223.7 % (7.50) 5.2 %
Q4 2018 5.57 (39.2 %) 1.97 297.9 % (12.37) (27.5 %)
Q1 2019 5.31 (28.0 %) 0.78 557.9 % (8.78) (42.5 %)
Q2 2019 4.47 (5.3 %) 1.30 61.3 % (8.66) (27.6 %)
Q3 2019 6.18 64.5 % 1.72 106.1 % (8.70) (15.9 %)
Q4 2019 9.37 68.3 % 2.57 30.0 % (6.08) 50.8 %
Q1 2020 10.24 92.9 % 3.42 336.4 % (9.74) (10.9 %)
Q2 2020 10.22 128.4 % 4.26 228.7 % (7.50) 13.4 %
Q3 2020 9.64 55.9 % 5.04 192.3 % (6.39) 26.5 %
Q4 2020 10.85 15.9 % (10.36) (503.8 %) (13.09) (115.3 %)
Q1 2021 12.01 17.3 % 0.41 (88.1 %) (10.01) (2.8 %)
Q2 2021 9.80 (4.1 %) 1.96 (54.0 %) (9.01) (20.2 %)
Q3 2021 11.97 24.2 % (5.28) (204.9 %) (18.48) (189.2 %)
Q4 2021 13.80 27.2 % 7.69 174.2 % (8.21) 37.3 %
2021 47.59 16.2 % 4.77 102.5 % (45.70) (24.5 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2012 (7.77) (69.2 %) (0.36) - (7.77) (0.36)
Q2 2012 (7.90) (59.6 %) (0.37) - (7.90) (0.37)
Q3 2012 (10.06) 17.6 % (0.47) - (10.06) (0.47)
Q4 2012 (14.17) 41.7 % (0.66) - (14.17) (0.66)
Q1 2013 (8.73) (12.4 %) (0.41) - (8.73) (0.41)
Q2 2013 (14.04) (77.7 %) (0.65) - (14.04) (0.65)
Q3 2013 (9.79) 2.7 % (0.45) - (9.79) (0.45)
Q4 2013 (16.42) (15.9 %) (0.76) - (16.42) (0.76)
Q1 2014 (10.32) (18.2 %) (0.48) - (10.32) (0.48)
Q2 2014 (13.77) 1.9 % (0.64) - (13.77) (0.64)
Q3 2014 (10.62) (8.5 %) (0.49) - (10.62) (0.49)
Q4 2014 (11.72) 28.6 % (0.54) - (11.72) (0.54)
Q1 2015 (10.99) (6.5 %) (0.51) - (10.99) (0.51)
Q2 2015 (9.82) 28.7 % (0.46) - (9.82) (0.46)
Q3 2015 (16.88) (58.9 %) (0.78) - (16.88) (0.78)
Q4 2015 (13.56) (15.7 %) (0.63) - (13.56) (0.63)
Q1 2016 (10.22) 7.0 % (0.47) - (10.22) (0.47)
Q2 2016 (9.66) 1.6 % (0.45) - (9.66) (0.45)
Q3 2016 (9.89) 41.4 % (0.46) - (9.89) (0.46)
Q4 2016 (12.32) 9.2 % (0.57) - (12.32) (0.57)
Q1 2017 (9.23) 9.8 % (0.43) - (9.23) (0.43)
Q2 2017 (9.28) 3.9 % (0.43) - (9.28) (0.43)
Q3 2017 (7.99) 19.2 % (0.37) - (7.99) (0.37)
Q4 2017 (14.35) (16.5 %) (0.67) (4.91) (9.45) (0.44)
Q1 2018 (5.99) 35.1 % (0.28) - (5.99) (0.28)
Q2 2018 (6.77) 27.0 % (0.31) - (6.77) (0.31)
Q3 2018 (8.73) (9.2 %) (0.41) - (8.73) (0.41)
Q4 2018 (15.77) (9.8 %) (0.73) - (15.77) (0.73)
Q1 2019 (9.25) (54.3 %) (0.43) - (9.25) (0.43)
Q2 2019 (10.19) (50.6 %) (0.47) - (10.19) (0.47)
Q3 2019 (10.13) (16.1 %) (0.47) - (10.13) (0.47)
Q4 2019 (3.46) 78.1 % (0.16) - (3.46) (0.16)
Q1 2020 (11.02) (19.1 %) (0.51) - (11.02) (0.51)
Q2 2020 (8.93) 12.4 % (0.22) - (8.93) (0.22)
Q3 2020 (6.17) 39.1 % (0.15) - (6.17) (0.15)
Q4 2020 (14.54) (320.4 %) (0.36) 0.50 (15.04) (0.38)
Q1 2021 (9.75) 11.5 % (0.24) - (9.75) (0.24)
Q2 2021 (9.63) (7.9 %) (0.24) - (9.63) (0.24)
Q3 2021 (18.46) (199.4 %) (0.46) - (18.46) (0.46)
Q4 2021 3.66 125.2 % 0.09 - 3.66 0.09
2021 (34.19) 15.9 % (0.85) - (34.19) (0.85)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2012 (7.52 %) (43.37 %) (55.36 %)
Q2 2012 (14.17 %) (54.57 %) (65.95 %)
Q3 2012 (20.07 %) (61.27 %) (72.86 %)
Q4 2012 0.16 % (35.78 %) (56.71 %)
Q1 2013 4.32 % (35.96 %) (56.04 %)
Q2 2013 (2.31 %) (38.97 %) (65.38 %)
Q3 2013 (4.68 %) (35.95 %) (61.92 %)
Q4 2013 0.47 % (42.73 %) (63.17 %)
Q1 2014 (4.69 %) (41.36 %) (63.79 %)
Q2 2014 (4.84 %) (43.80 %) (63.49 %)
Q3 2014 (0.67 %) (43.80 %) (64.78 %)
Q4 2014 (3.51 %) (40.45 %) (58.11 %)
Q1 2015 (3.04 %) (40.58 %) (57.73 %)
Q2 2015 2.86 % (33.65 %) (51.27 %)
Q3 2015 (5.92 %) (40.68 %) (57.76 %)
Q4 2015 (9.01 %) (41.39 %) (61.46 %)
Q1 2016 (9.55 %) (43.18 %) (64.36 %)
Q2 2016 (10.21 %) (45.79 %) (67.72 %)
Q3 2016 (1.78 %) (41.15 %) (63.40 %)
Q4 2016 (2.23 %) (45.46 %) (69.85 %)
Q1 2017 (3.17 %) (51.49 %) (79.40 %)
Q2 2017 (7.20 %) (62.73 %) (95.56 %)
Q3 2017 (9.56 %) (68.06 %) (103.33 %)
Q4 2017 (6.69 %) (69.12 %) (101.11 %)
Q1 2018 (8.10 %) (73.17 %) (102.36 %)
Q2 2018 (3.60 %) (77.72 %) (104.34 %)
Q3 2018 1.88 % (85.41 %) (123.67 %)
Q4 2018 16.06 % (112.95 %) (173.91 %)
Q1 2019 22.70 % (134.87 %) (209.26 %)
Q2 2019 25.58 % (141.58 %) (229.92 %)
Q3 2019 26.82 % (135.01 %) (210.56 %)
Q4 2019 25.13 % (87.15 %) (130.39 %)
Q1 2020 29.74 % (74.76 %) (114.98 %)
Q2 2020 33.22 % (58.39 %) (93.12 %)
Q3 2020 38.71 % (47.74 %) (74.92 %)
Q4 2020 5.75 % (63.17 %) (100.50 %)
Q1 2021 (1.54 %) (60.54 %) (93.36 %)
Q2 2021 (6.99 %) (64.00 %) (95.96 %)
Q3 2021 (29.75 %) (83.84 %) (118.50 %)
Q4 2021 10.02 % (73.56 %) (71.84 %)
2021 10.02 % (73.56 %) (71.84 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2012 21.54 (2.29) (2.01) 17.77
Q2 2012 21.54 (2.42) (2.15) 17.75
Q3 2012 21.54 (2.32) (2.32) 17.29
Q4 2012 21.54 (1.85) (1.85) 16.28
Q1 2013 21.54 (1.90) (1.90) 15.87
Q2 2013 21.54 (2.18) (2.18) 15.22
Q3 2013 21.54 (2.17) (2.17) 14.76
Q4 2013 21.54 (2.27) (2.27) 14.00
Q1 2014 21.54 (2.35) (2.35) 13.52
Q2 2014 21.54 (2.34) (2.34) 12.88
Q3 2014 21.54 (2.37) (2.37) 12.39
Q4 2014 21.54 (2.16) (2.16) 11.85
Q1 2015 21.54 (2.19) (2.19) 11.34
Q2 2015 21.54 (2.00) (2.00) 10.88
Q3 2015 21.54 (2.29) (2.29) 10.10
Q4 2015 21.54 (2.38) (2.38) 9.47
Q1 2016 21.54 (2.34) (2.34) 8.99
Q2 2016 21.54 (2.34) (2.34) 8.54
Q3 2016 21.54 (2.01) (2.01) 8.09
Q4 2016 21.54 (1.95) (1.95) 7.42
Q1 2017 21.54 (1.91) (1.91) 7.00
Q2 2017 21.54 (1.89) (1.89) 6.57
Q3 2017 21.54 (1.80) (1.80) 6.19
Q4 2017 21.54 (1.90) (1.67) 5.69
Q1 2018 21.54 (1.75) (1.52) 5.41
Q2 2018 21.54 (1.63) (1.40) 5.09
Q3 2018 21.54 (1.66) (1.44) 4.69
Q4 2018 21.54 (1.73) (1.73) 3.98
Q1 2019 21.54 (1.88) (1.88) 3.52
Q2 2019 21.54 (2.04) (2.04) 3.04
Q3 2019 21.54 (2.10) (2.10) 2.57
Q4 2019 21.54 (1.53) (1.53) 2.39
Q1 2020 21.54 (1.62) (1.62) 1.88
Q2 2020 40.00 (0.84) (0.84) 8.16
Q3 2020 40.00 (0.74) (0.74) 8.00
Q4 2020 40.00 (1.02) (1.03) 7.63
Q1 2021 40.00 (0.98) (1.00) 7.38
Q2 2021 40.00 (1.00) (1.01) 7.14
Q3 2021 40.00 (1.31) (1.32) 6.68
Q4 2021 40.00 (0.85) (0.85) 6.78

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2012 NEG NEG 10.08
Q2 2012 NEG NEG 7.10
Q3 2012 NEG NEG 8.04
Q4 2012 NEG NEG 8.65
Q1 2013 NEG NEG 9.05
Q2 2013 NEG NEG 9.44
Q3 2013 NEG NEG 9.29
Q4 2013 NEG NEG 10.19
Q1 2014 NEG NEG 11.13
Q2 2014 NEG NEG 13.82
Q3 2014 NEG NEG 15.24
Q4 2014 NEG NEG 10.76
Q1 2015 NEG NEG 10.89
Q2 2015 NEG NEG 9.14
Q3 2015 NEG NEG 7.77
Q4 2015 NEG NEG 7.90
Q1 2016 NEG NEG 6.55
Q2 2016 NEG NEG 7.07
Q3 2016 NEG NEG 5.60
Q4 2016 NEG NEG 8.68
Q1 2017 NEG NEG 7.39
Q2 2017 NEG NEG 6.71
Q3 2017 NEG NEG 8.68
Q4 2017 NEG NEG 9.11
Q1 2018 NEG NEG 9.43
Q2 2018 NEG NEG 8.91
Q3 2018 NEG NEG 6.34
Q4 2018 NEG NEG 17.15
Q1 2019 NEG NEG 15.94
Q2 2019 NEG NEG 15.61
Q3 2019 NEG NEG 15.34
Q4 2019 NEG NEG 18.14
Q1 2020 NEG NEG 16.33
Q2 2020 NEG NEG 2.66
Q3 2020 NEG NEG 6.71
Q4 2020 NEG NEG 7.19
Q1 2021 NEG NEG 7.33
Q2 2021 NEG NEG 8.58
Q3 2021 NEG NEG 8.44
Q4 2021 NEG NEG 6.71

Business Segments (Million)

Compared With The
Period Retail Sales Wholesale Other Sales Fishes Shrimp Shrimp Farm Others
Q1 2012 - - - 13.84 2.85 - 1.75
Q2 2012 - - - 15.04 0.55 - 3.91
Q3 2012 - - - 10.60 4.44 - -
Q4 2012 - - - 14.04 2.60 - 1.74
Q1 2013 - - - 14.87 1.75 - 4.38
Q2 2013 - - - 13.38 6.17 - -
Q3 2013 - - - 11.56 4.87 - 1.19
Q4 2013 - - - 14.64 1.52 2.49 1.80
Q1 2014 - - - 15.94 5.04 - 1.75
Q2 2014 - - - 14.68 2.09 - 1.66
Q3 2014 - - - 13.78 2.05 - 1.49
Q4 2014 - - - 14.87 4.85 - 1.71
Q1 2015 - - - 16.78 1.84 4.21 1.60
Q2 2015 - - - 14.94 4.60 - 1.46
Q3 2015 - - - 13.99 3.31 - 1.38
Q4 2015 - - - 13.31 4.33 - 1.62
Q1 2016 - - - 12.28 2.41 3.27 1.53
Q2 2016 - - - 10.14 8.76 (3.27) 1.25
Q3 2016 - - - 8.37 2.99 - 1.36
Q4 2016 - - - 8.12 2.02 - 1.03
Q1 2017 - - - 7.89 2.15 - 0.92
Q2 2017 - - - 5.63 1.30 - 0.81
Q3 2017 - - - 5.55 1.41 - 0.73
Q4 2017 - - - 6.79 1.34 - 1.03
Q1 2018 - - - 5.64 0.96 - 0.77
Q2 2018 - - - 3.56 0.64 - 0.53
Q3 2018 - - - 2.90 0.47 - 0.39
Q4 2018 - - - 4.20 0.70 - 0.67
Q1 2019 - - - 4.13 0.63 - 0.55
Q2 2019 - - - 3.67 0.66 - 0.14
Q3 2019 - - - 4.32 1.06 - 0.81
Q4 2019 - - - 5.72 1.94 - 1.70
Q1 2020 - - - 3.54 0.74 - 5.96
Q2 2020 - - - 4.05 0.87 - 5.29
Q3 2020 - - - 4.02 0.84 - 4.78
Q1 2021 8.97 1.54 1.51 - - - -
Q2 2021 7.03 2.73 0.04 - - - -
Q3 2021 7.38 3.73 0.87 - - - -


Financial Ratios
Current
Market Cap (M Riyal) 945.60
Enterprise Value (EV) (M) 954.02
Shares Outstanding ((M)) 40.00
EPS ( Riyal) (TTM) (2.34)
Book Value (BV) ( Riyal) 1.70
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 13.95
Return on Average Assets (%) (TTM) (37.60 )
Return on Average Equity (%) (TTM) (73.00 )
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Share Price

Saudi Fisheries Co.
23.64
(0.14) (0.59 %)

Saudi Fisheries Co. (SFICO)

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