Raydan turns to SAR 15.5 mln losses in H1 2020

Raydan turns to SAR 15.5 mln losses in H1 2020

24/08/2020 Argaam Exclusive

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Raydan Food Co. reported a net loss after Zakat and tax of SAR 15.5 million for the first half of 2020, compared to a net profit of SAR 3.5 million in the same period last year.



Financials (M)

Item 6m 2019 6m 2020 Change‬
Revenues 117.85 72.10 (38.8 %)
Gross Income 13.73 (3.88) (128.3 %)
Operating Income 2.75 (13.68) (597.0 %)
Net Income 3.47 (15.49) (546.0 %)
Average Shares 13.92 13.92 -
EPS (Riyals) 0.25 (1.11) (546.0 %)

The losses were attributed to lower sales and other revenue due to the COVID-19 pandemic in addition to higher cost of sales, operating cost, marketing expense and financing charges.



Current Quarter Comparison (M)

Compared With The
Item Q2 2019 Q2 2020 Change‬
Revenues 63.12 23.41 (62.9 %)
Gross Income 7.23 (3.96) (154.7 %)
Operating Income 2.00 (7.86) (493.5 %)
Net Income 2.76 (8.84) (419.8 %)
Average Shares 13.92 13.92 -
EPS (Riyals) 0.20 (0.64) (419.8 %)

The company turned to losses of SAR 8.8 million in Q2 2020 from a net profit of SAR 2.7 million, a year earlier, due to lower sales and other revenues.

 

On a quarterly basis, Raydan widened its losses for Q2 due to lower sales.



Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2011 - - - - - -
Q2 2011 - - - - - -
Q3 2011 - - - - - -
Q4 2011 - - - - - -
Q1 2012 - - - - - -
Q2 2012 - - - - - -
Q3 2012 - - - - - -
Q4 2012 - - - - - -
Q1 2013 - - - - - -
Q2 2013 - - - - - -
Q3 2013 - - - - - -
Q4 2013 - - - - - -
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 74.82 - 18.82 - 13.49 -
Q2 2016 74.72 - 20.75 - 11.35 -
Q3 2016 85.21 - 19.68 - 14.96 -
Q4 2016 65.19 - 10.44 - 8.31 -
Q1 2017 62.74 (16.1 %) 13.25 (29.6 %) 7.02 (48.0 %)
Q2 2017 69.47 (7.0 %) 13.43 (35.3 %) 6.42 (43.4 %)
Q3 2017 72.37 (15.1 %) 17.65 (10.3 %) 10.74 (28.2 %)
Q4 2017 58.02 (11.0 %) 11.57 10.8 % 3.20 (61.5 %)
Q1 2018 54.67 (12.9 %) 10.19 (23.1 %) 4.09 (41.7 %)
Q2 2018 60.40 (13.1 %) 13.29 (1.1 %) 6.65 3.6 %
Q3 2018 62.06 (14.2 %) 11.46 (35.0 %) 4.17 (61.2 %)
Q4 2018 56.56 (2.5 %) 7.35 (36.5 %) 1.03 (67.9 %)
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 %)
Q1 2020 48.68 (11.1 %) 0.08 (98.8 %) (5.81) (871.0 %)
Q2 2020 23.41 (62.9 %) (3.96) (154.7 %) (7.86) (493.5 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2011 - - - - - -
Q2 2011 - - - - - -
Q3 2011 - - - - - -
Q4 2011 - - - - - -
Q1 2012 - - - - - -
Q2 2012 - - - - - -
Q3 2012 - - - - - -
Q4 2012 - - - - - -
Q1 2013 - - - - - -
Q2 2013 - - - - - -
Q3 2013 - - - - - -
Q4 2013 - - - - - -
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 11.86 - 0.85 - 11.86 0.85
Q2 2016 10.58 - 0.76 - 10.58 0.76
Q3 2016 14.07 - 1.01 - 14.07 1.01
Q4 2016 5.86 - 0.42 (2.56) 8.42 0.60
Q1 2017 6.87 (42.0 %) 0.49 (2.07) 8.94 0.64
Q2 2017 6.56 (38.0 %) 0.47 - 6.56 0.47
Q3 2017 10.59 (24.7 %) 0.76 - 10.59 0.76
Q4 2017 4.13 (29.4 %) 0.30 - 4.13 0.30
Q1 2018 5.16 (24.9 %) 0.37 - 5.16 0.37
Q2 2018 7.04 7.3 % 0.51 - 7.04 0.51
Q3 2018 5.84 (44.9 %) 0.42 - 5.84 0.42
Q4 2018 (3.33) (180.5 %) (0.24) - (3.33) (0.24)
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)
Q1 2020 (6.66) (1037.3 %) (0.48) - (6.66) (0.48)
Q2 2020 (8.84) (419.8 %) (0.64) - (8.84) (0.64)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 23.24 % 21.35 % 14.98 %
Q1 2017 22.28 % 20.06 % 14.59 %
Q2 2017 20.10 % 18.42 % 13.44 %
Q3 2017 20.30 % 18.23 % 12.79 %
Q4 2017 21.29 % 16.87 % 11.51 %
Q1 2018 20.76 % 16.33 % 10.39 %
Q2 2018 21.46 % 17.15 % 10.97 %
Q3 2018 19.77 % 16.07 % 9.43 %
Q4 2018 18.09 % 13.63 % 6.30 %
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 %)
Q1 2020 5.92 % 6.15 % (5.41 %)
Q2 2020 1.14 % 1.68 % (12.85 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2011 - - - -
Q2 2011 - - - -
Q3 2011 - - - -
Q4 2011 - - - -
Q1 2012 - - - -
Q2 2012 - - - -
Q3 2012 - - - -
Q4 2012 - - - -
Q1 2013 - - - -
Q2 2013 - - - -
Q3 2013 - - - -
Q4 2013 - - - -
Q1 2014 - - - -
Q2 2014 - - - -
Q3 2014 - - - -
Q4 2014 - - - -
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 13.92 - - 18.35
Q2 2016 13.92 - - 19.11
Q3 2016 13.92 - - 20.08
Q4 2016 13.92 3.04 3.23 17.88
Q1 2017 13.92 2.69 3.02 18.36
Q2 2017 13.92 2.40 2.73 18.48
Q3 2017 13.92 2.15 2.48 19.53
Q4 2017 13.92 2.02 2.17 19.60
Q1 2018 13.92 1.90 1.90 19.97
Q2 2018 13.92 1.93 1.93 19.67
Q3 2018 13.92 1.59 1.59 20.08
Q4 2018 13.92 1.06 1.06 19.88
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
Q1 2020 13.92 (0.87) (0.87) 19.03
Q2 2020 13.92 (1.71) (1.71) 18.39

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 21.24 18.90 3.11
Q2 2017 16.86 14.80 2.19
Q3 2017 15.97 13.83 1.76
Q4 2017 15.17 14.13 1.57
Q1 2018 13.92 13.92 1.32
Q2 2018 13.77 13.77 1.35
Q3 2018 14.53 14.53 1.15
Q4 2018 26.48 26.48 1.41
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
Q1 2020 NEG NEG 1.21
Q2 2020 NEG NEG 1.70

Business Segments (Million)

Compared With The
Period National meals Others
Q1 2018 54.67 -
Q2 2018 60.40 -
Q3 2018 62.06 -
Q4 2018 56.56 -
Q1 2019 54.74 -
Q2 2019 63.12 -
Q3 2019 61.31 -
Q4 2019 50.30 1.02
Q1 2020 48.68 -
Q2 2020 23.41 -


Financial Ratios
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 )
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Share Price

Raydan Food Co.
22.92
0.08 0.35 %

Raydan Food Co. (RAYDAN)

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