Saudi Fisheries widens 9M 2023 loss to SAR 39.3 mln; Q3 at SAR 34.4 mln

09/11/2023 Argaam Exclusive

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Saudi Fisheries Co. slid into a deeper net loss of SAR 39.3 million in the first nine months of 2023 from SAR 33.8 million a year earlier.

Financials (M)

Item	9m 2022	9m 2023	Change‬
Revenues	39.07	42.67	9.2 %
Gross Income	(15.71)	(9.12)	42.0 %
Operating Income	(47.99)	(49.39)	(2.9 %)
Net Income	(33.75)	(47.11)	(39.6 %)
Average Shares	40.00	40.00	-
EPS (Riyals)	(0.84)	(1.18)	(39.6 %)

The company attributed the higher losses to an increase in farm production costs and ‎the loss arising from fair valuation of biological ‎assets.‎

‎The operating loss leapt by 17% year-on-year (YoY) during the nine-month period. This was due to ‎recognizing inventory provisions amounting to SAR 9.7 million.‎

‎The company recognized a Zakat provision of SAR 6 million for the assessments ‎‎from 2011-2016 and from 2017-2018.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2022	Q3 2023	Change‬
Revenues	9.81	15.11	54.1 %
Gross Income	(12.28)	(7.89)	35.8 %
Operating Income	(23.06)	(25.85)	(12.1 %)
Net Income	(26.38)	(34.38)	(30.3 %)
Average Shares	40.00	40.00	-
EPS (Riyals)	(0.66)	(0.86)	(30.3 %)

Item	Q2 2023	Q3 2023	Change‬
Revenues	15.96	15.11	(5.3 %)
Gross Income	(1.53)	(7.89)	(415.1 %)
Operating Income	(12.65)	(25.85)	(104.3 %)
Net Income	(12.74)	(34.38)	(169.8 %)
Average Shares	40.00	40.00	-
EPS (Riyals)	(0.32)	(0.86)	(169.8 %)

In Q3 2023, net loss widened to SAR 34.4 million from SAR 26.4 million in Q3 2022 on higher shrimp and ‎fish production costs in the farms, along with the loss ‎arising from the fair valuation of biological ‎assets.‎

On a quarterly basis, net losses increased by 34.8% from SAR 25.5 million on increased shrimp and ‎fish production costs in the farms and a 30% sequential rise in operating losses.

Total shareholders’ equity, after minority interest, dropped to SAR 188.84 million as of Sept. 30, 2023, up from SAR 257.55 million in the prior-year period.

Accumulated losses amounted to SAR 211.54 million by the end of Sept. 30, 2023, representing 52.89% of the company’s capital.

View More Financial Results

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
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 %
2014	79.91	3.0 %	(2.81)	(875.1 %)	(41.95)	2.6 %
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 %
2015	83.37	4.3 %	(7.51)	(167.7 %)	(43.50)	(3.7 %)
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 %)
2016	60.26	(27.7 %)	(2.13)	71.7 %	(39.07)	10.2 %
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 %
2017	35.54	(41.0 %)	(2.38)	(11.8 %)	(33.40)	14.5 %
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 %)
2018	21.42	(39.7 %)	6.16	359.0 %	(32.87)	1.6 %
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 %
2019	25.33	18.3 %	6.91	12.2 %	(32.21)	2.0 %
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 %)
2020	40.95	61.7 %	2.35	(65.9 %)	(36.72)	(14.0 %)
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 %)
Q1 2022	16.98	41.3 %	(9.61)	(2472.1 %)	(20.63)	(106.2 %)
Q2 2022	12.28	25.3 %	6.18	215.2 %	(4.30)	52.3 %
Q3 2022	9.81	(18.1 %)	(12.28)	(132.3 %)	(23.06)	(24.8 %)
Q4 2022	9.75	(29.4 %)	(1.96)	(125.6 %)	(12.43)	(51.5 %)
2022	48.82	2.6 %	(17.67)	(470.7 %)	(60.42)	(32.2 %)
Q1 2023	11.60	(31.7 %)	0.30	103.1 %	(10.89)	47.2 %
Q2 2023	15.96	30.0 %	(1.53)	(124.8 %)	(12.65)	(194.5 %)
Q3 2023	15.11	54.1 %	(7.89)	35.8 %	(25.85)	(12.1 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2013	77.54	10.2 %	0.36	220.4 %	(43.07)	(18.8 %)
2014	79.91	3.0 %	(2.81)	(875.1 %)	(41.95)	2.6 %
2015	83.37	4.3 %	(7.51)	(167.7 %)	(43.50)	(3.7 %)
2016	60.26	(27.7 %)	(2.13)	71.7 %	(39.07)	10.2 %
2017	35.54	(41.0 %)	(2.38)	(11.8 %)	(33.40)	14.5 %
2018	21.42	(39.7 %)	6.16	359.0 %	(32.87)	1.6 %
2019	25.33	18.3 %	6.91	12.2 %	(32.21)	2.0 %
2020	40.95	61.7 %	2.35	(65.9 %)	(36.72)	(14.0 %)
2021	47.59	16.2 %	4.77	102.5 %	(45.70)	(24.5 %)
2022	48.82	2.6 %	(17.67)	(470.7 %)	(60.42)	(32.2 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
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)
2014	(46.43)	5.2 %	(2.16)	-	(46.43)	(2.16)
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)
2015	(51.24)	(10.4 %)	(2.38)	-	(51.24)	(2.38)
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)
2016	(44.01)	14.1 %	(2.04)	-	(44.01)	(2.04)
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)
2017	(40.85)	7.2 %	(1.90)	(4.91)	(35.94)	(1.67)
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)
2018	(37.25)	8.8 %	(1.73)	-	(37.25)	(1.73)
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)
2019	(33.03)	11.3 %	(1.53)	-	(33.03)	(1.53)
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)
2020	(40.65)	(23.1 %)	(1.02)	0.50	(41.15)	(1.03)
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)
Q1 2022	(0.39)	96.0 %	(0.01)	-	(0.39)	(0.01)
Q2 2022	(6.98)	27.5 %	(0.17)	-	(6.98)	(0.17)
Q3 2022	(26.38)	(42.9 %)	(0.66)	-	(26.38)	(0.66)
Q4 2022	(29.64)	(909.2 %)	(0.74)	(4.84)	(24.80)	(0.62)
2022	(63.39)	(85.4 %)	(1.58)	(4.84)	(58.55)	(1.46)
Q1 2023	0.02	105.2 %	0.00	8.97	(8.95)	(0.22)
Q2 2023	(12.74)	(82.5 %)	(0.32)	(6.00)	(6.74)	(0.17)
Q3 2023	(34.38)	(30.3 %)	(0.86)	-	(34.38)	(0.86)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2013	(48.98)	(22.8 %)	(2.27)	-	(48.98)	(2.27)
2014	(46.43)	5.2 %	(2.16)	-	(46.43)	(2.16)
2015	(51.24)	(10.4 %)	(2.38)	-	(51.24)	(2.38)
2016	(44.01)	14.1 %	(2.04)	-	(44.01)	(2.04)
2017	(40.85)	7.2 %	(1.90)	(4.91)	(35.94)	(1.67)
2018	(37.25)	8.8 %	(1.73)	-	(37.25)	(1.73)
2019	(33.03)	11.3 %	(1.53)	-	(33.03)	(1.53)
2020	(40.65)	(23.1 %)	(1.02)	0.50	(41.15)	(1.03)
2021	(34.19)	15.9 %	(0.85)	-	(34.19)	(0.85)
2022	(63.39)	(85.4 %)	(1.58)	(4.84)	(58.55)	(1.46)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %)
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 %)
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 %)
2016	(3.53 %)	(48.64 %)	(73.03 %)
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 %)
2017	(6.69 %)	(69.20 %)	(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 %)
2018	28.76 %	(113.18 %)	(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 %)
2019	27.28 %	(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 %)
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 %)
Q1 2022	(9.98 %)	(88.16 %)	(47.23 %)
Q2 2022	(1.87 %)	(76.38 %)	(40.29 %)
Q3 2022	(15.17 %)	(89.57 %)	(56.91 %)
Q4 2022	(36.20 %)	(100.14 %)	(119.93 %)
2022	(36.20 %)	(100.14 %)	(119.93 %)
Q1 2023	(17.88 %)	(89.37 %)	(154.51 %)
Q2 2023	(32.84 %)	(100.12 %)	(141.93 %)
Q3 2023	(21.14 %)	(96.02 %)	(142.84 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2013	0.47 %	(42.73 %)	(63.17 %)
2014	(3.51 %)	(40.45 %)	(58.11 %)
2015	(9.01 %)	(41.39 %)	(61.46 %)
2016	(3.53 %)	(48.64 %)	(73.03 %)
2017	(6.69 %)	(69.20 %)	(101.11 %)
2018	28.76 %	(113.18 %)	(173.91 %)
2019	27.28 %	(87.15 %)	(130.39 %)
2020	5.75 %	(63.17 %)	(100.50 %)
2021	10.02 %	(73.56 %)	(71.84 %)
2022	(36.20 %)	(100.14 %)	(119.93 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	(0.04 %)	(26.59 %)	(45.38 %)
Q2 2014	(22.31 %)	(57.42 %)	(74.74 %)
Q3 2014	5.46 %	(35.83 %)	(61.34 %)
Q4 2014	1.71 %	(44.27 %)	(54.71 %)
Q1 2015	1.30 %	(28.01 %)	(44.99 %)
Q2 2015	3.71 %	(27.57 %)	(46.75 %)
Q3 2015	(34.92 %)	(67.88 %)	(90.31 %)
Q4 2015	(10.82 %)	(47.71 %)	(70.41 %)
Q1 2016	1.73 %	(31.83 %)	(52.49 %)
Q2 2016	4.04 %	(35.27 %)	(57.20 %)
Q3 2016	(1.18 %)	(53.26 %)	(77.71 %)
Q4 2016	(19.79 %)	(75.71 %)	(110.25 %)
Q1 2017	0.36 %	(49.75 %)	(84.13 %)
Q2 2017	(9.63 %)	(77.96 %)	(119.92 %)
Q3 2017	(8.80 %)	(73.12 %)	(103.96 %)
Q4 2017	(10.89 %)	(81.48 %)	(103.17 %)
Q1 2018	(2.32 %)	(57.88 %)	(81.27 %)
Q2 2018	17.00 %	(108.91 %)	(143.27 %)
Q3 2018	22.24 %	(119.45 %)	(232.16 %)
Q4 2018	35.45 %	(184.92 %)	(283.29 %)
Q1 2019	14.75 %	(116.42 %)	(174.16 %)
Q2 2019	28.95 %	(136.10 %)	(227.83 %)
Q3 2019	27.87 %	(105.24 %)	(163.85 %)
Q4 2019	27.39 %	(35.22 %)	(36.94 %)
Q1 2020	33.36 %	(65.71 %)	(107.56 %)
Q2 2020	41.67 %	(43.96 %)	(87.35 %)
Q3 2020	52.26 %	(44.84 %)	(63.98 %)
Q4 2020	(95.44 %)	(95.14 %)	(138.63 %)
Q1 2021	3.37 %	(56.00 %)	(81.15 %)
Q2 2021	19.99 %	(58.15 %)	(98.33 %)
Q3 2021	(44.14 %)	(122.55 %)	(154.24 %)
Q4 2021	55.68 %	(57.30 %)	26.54 %
Q1 2022	(56.58 %)	(106.31 %)	(2.28 %)
Q2 2022	50.29 %	(11.40 %)	(56.88 %)
Q3 2022	(125.18 %)	(203.87 %)	(268.98 %)
Q4 2022	(20.14 %)	(96.78 %)	(254.29 %)
Q1 2023	2.59 %	(68.86 %)	(77.18 %)
Q2 2023	(9.59 %)	(61.13 %)	(42.25 %)
Q3 2023	(52.19 %)	(153.25 %)	(227.55 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
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
Q1 2022	40.00	(0.62)	(0.62)	6.39
Q2 2022	40.00	(0.55)	(0.55)	7.10
Q3 2022	40.00	(0.75)	(0.75)	6.44
Q4 2022	40.00	(1.58)	(1.46)	5.90
Q1 2023	40.00	(1.57)	(1.68)	5.90
Q2 2023	40.00	(1.72)	(1.67)	5.58
Q3 2023	40.00	(1.92)	(1.87)	4.72

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2013	21.54	(2.27)	(2.27)	14.00
2014	21.54	(2.16)	(2.16)	11.85
2015	21.54	(2.38)	(2.38)	9.47
2016	21.54	(2.04)	(2.04)	7.42
2017	21.54	(1.90)	(1.67)	5.69
2018	21.54	(1.73)	(1.73)	3.98
2019	21.54	(1.53)	(1.53)	2.39
2020	40.00	(1.02)	(1.03)	7.63
2021	40.00	(0.85)	(0.85)	6.78
2022	40.00	(1.58)	(1.46)	5.90

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
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
Q1 2022	NEG	NEG	6.94
Q2 2022	NEG	NEG	4.78
Q3 2022	NEG	NEG	5.13
Q4 2022	NEG	NEG	4.56
Q1 2023	NEG	NEG	4.60
Q2 2023	NEG	NEG	5.49
Q3 2023	NEG	NEG	5.48

Period	P/E	Adjusted P/E	Price/book
2013	NEG	NEG	10.19
2014	NEG	NEG	10.76
2015	NEG	NEG	7.90
2016	NEG	NEG	8.68
2017	NEG	NEG	9.11
2018	NEG	NEG	17.15
2019	NEG	NEG	18.14
2020	NEG	NEG	7.19
2021	NEG	NEG	6.71
2022	NEG	NEG	4.56

Business Segments (Million)

Compared With The

Period	Farm	Retail Sales	Wholesale	Other Sales	Fishes	Shrimp	Shrimp Farm	Others
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	-	-	-	-
Q1 2022	-	7.85	9.13	-	-	-	-	-
Q2 2022	-	5.16	7.11	-	-	-	-	-
Q4 2022	3.45	5.04	1.26	-	-	-	-	-
Q1 2023	3.47	3.96	4.17	-	-	-	-	-
Q2 2023	3.61	3.28	9.07	-	-	-	-	-
Q3 2023	7.23	2.83	5.05	-	-	-	-	-

Period	Farm	Retail Sales	Wholesale	Other Sales	Fishes	Shrimp	Shrimp Farm	Others
2013	-	-	-	-	54.45	14.32	2.49	6.28
2014	-	-	-	-	59.26	14.02	-	6.62
2015	-	-	-	-	59.03	18.29	-	6.06
2016	-	-	-	-	38.91	16.18	-	5.17
2017	-	-	-	-	25.86	6.20	-	3.48
2018	-	-	-	-	16.30	2.77	-	2.35
2019	-	-	-	-	17.84	4.29	-	3.20
2020	-	-	-	-	15.64	3.24	-	22.07
2021	-	32.78	14.80	-	-	-	-	-
2022	21.70	23.29	3.83	-	-	-	-	-

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 )

Saudi Fisheries Co. (SFICO)

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Saudi Fisheries widens 9M 2023 loss to SAR 39.3 mln; Q3 at SAR 34.4 mln

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Financials (M)

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Profit Performance (Million)

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Saudi Fisheries Co. (SFICO)

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Saudi Fisheries widens 9M 2023 loss to SAR 39.3 mln; Q3 at SAR 34.4 mln

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q3 2023

Revenue by Business Segment (Latest) 2023 Q3

Financial Ratios

Share Price

Saudi Fisheries Co. (SFICO)

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Business Segments (Million)