Raydan turns to losses of SAR 4.8 mln in FY 2019
27/04/2020
Argaam Exclusive
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Raydan Food Co. reported a net loss after Zakat and tax of SAR 4.8 million for the fiscal year 2019, compared to a net profit of SAR 14.7 million a year earlier.
The losses were attributed to decline in sales volumes, as well as increase in cost of sales, marketing expenses, and financing costs.
Financials (M)
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 233.69 | 230.48 | (1.4 %) |
| Gross Income | 42.28 | 19.71 | (53.4 %) |
| Operating Income | 15.94 | (4.66) | (129.2 %) |
| Net Income | 14.71 | (4.78) | (132.5 %) |
| Average Shares | 13.92 | 13.92 | - |
| EPS (Riyals) | 1.06 | (0.34) | (132.5 %) |
In Q4 2019, the company widened its net loss after Zakat and tax to SAR 10 million, from SAR 3.3 million in the same period last year.
Compared With The
Current Quarter Comparison (M)
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 56.56 | 51.32 | (9.3 %) |
| Gross Income | 7.35 | (1.44) | (119.6 %) |
| Operating Income | 1.03 | (8.46) | (921.8 %) |
| Net Income | (3.33) | (10.14) | (204.7 %) |
| Average Shares | 13.92 | 13.92 | - |
| EPS (Riyals) | (0.24) | (0.73) | (204.7 %) |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2019 | 54.74 | 0.1 % | 6.50 | (36.2 %) | 0.75 | (81.6 %) |
| Q2 2019 | 63.12 | 4.5 % | 7.23 | (45.5 %) | 2.00 | (70.0 %) |
| Q3 2019 | 61.31 | (1.2 %) | 7.42 | (35.3 %) | 1.05 | (74.9 %) |
| Q4 2019 | 51.32 | (9.3 %) | (1.44) | (119.6 %) | (8.46) | (921.8 %) |
| 2019 | 230.48 | (1.4 %) | 19.71 | (53.4 %) | (4.66) | (129.2 %) |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| Q1 2019 | 0.71 | (86.2 %) | 0.05 | - | 0.71 | 0.05 |
| Q2 2019 | 2.76 | (60.8 %) | 0.20 | - | 2.76 | 0.20 |
| Q3 2019 | 1.89 | (67.6 %) | 0.14 | - | 1.89 | 0.14 |
| Q4 2019 | (10.14) | (204.7 %) | (0.73) | - | (10.14) | (0.73) |
| 2019 | (4.78) | (132.5 %) | (0.34) | - | (4.78) | (0.34) |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2019 | 16.51 % | 12.66 % | 4.39 % |
| Q2 2019 | 13.76 % | 11.00 % | 2.53 % |
| Q3 2019 | 12.09 % | 9.83 % | 0.86 % |
| Q4 2019 | 8.55 % | 8.07 % | (2.07 %) |
| 2019 | 8.55 % | 8.07 % | (2.07 %) |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2019 | 13.92 | 0.74 | 0.74 | 20.27 |
| Q2 2019 | 13.92 | 0.43 | 0.43 | 20.14 |
| Q3 2019 | 13.92 | 0.15 | 0.15 | 20.28 |
| Q4 2019 | 13.92 | (0.34) | (0.34) | 19.50 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2019 | 36.13 | 36.13 | 1.31 |
| Q2 2019 | 65.82 | 65.82 | 1.40 |
| Q3 2019 | More than 100 | More than 100 | 1.27 |
| Q4 2019 | NEG | NEG | 1.66 |
Business Segments (Million)
Q4 2019
| Period | National meals | Others |
|---|---|---|
| Q1 2019 | 54.74 | - |
| Q2 2019 | 63.12 | - |
| Q3 2019 | 61.31 | - |
| Q4 2019 | 50.30 | 1.02 |
| Current | |
| Market Cap (M Riyal) | 362.37 |
| Enterprise Value (EV) (M) | 364.84 |
| Shares Outstanding ((M)) | 15.81 |
| EPS ( Riyal) (TTM) | (1.45) |
| Book Value (BV) ( Riyal) | 8.63 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | Neg |
| P/E (TTM) | NEG |
| Price/book | 2.66 |
| Return on Average Assets (%) (TTM) | (8.58 ) |
| Return on Average Equity (%) (TTM) | (14.46 ) |
Share Price
Raydan Food Co. (RAYDAN)
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