Raydan trims Q1 2023 loss to SAR 3.3 mln

Raydan trims Q1 2023 loss to SAR 3.3 mln

22/05/2023 Argaam Exclusive

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Raydan Food Co. narrowed the Q1 2023 net loss by 30.9% to SAR 3.3 million, from SAR 4.7 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2022 Q1 2023 Change‬
Revenues 37.34 41.80 12.0 %
Gross Income 2.36 0.39 (83.7 %)
Operating Income (3.77) (5.55) (47.0 %)
Net Income (4.71) (3.26) 30.9 %
Average Shares 15.81 15.81 0.0 %
EPS (Riyals) (0.30) (0.21) 30.9 %

Reduced losses were attributed to increased sales and other revenues, a pullback in general and administrative expenses, lower financing costs, reversal of a decrease in the value of right-of-use assets and profit on the disposal of property, plant and equipment.

 

Sequentially, the company turned to losses from a net profit of SAR 911,860 in Q4 2022.

 

This was due to decreased sales, coupled with an uptick in general, administrative, selling and marketing expenses.

 

Shareholders’ equity, after minority interest, declined to SAR 181.66 million as of March 31, 2023, compared to SAR 203.11 million in the year before.

 

By the end of the quarter, accumulated losses amounted to SAR 4.18 million, or 2.65% of the company’s capital.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %)
Q3 2020 28.17 (54.1 %) (1.79) (124.1 %) (7.55) (821.8 %)
Q4 2020 30.81 (40.0 %) (6.93) (380.9 %) (13.19) (56.0 %)
Q1 2021 32.87 (32.5 %) (2.94) (3873.1 %) (8.34) (43.4 %)
Q2 2021 33.20 41.8 % 0.31 107.8 % (3.46) 56.0 %
Q3 2021 29.83 5.9 % (4.90) (173.7 %) (14.29) (89.3 %)
Q4 2021 35.26 14.4 % 1.33 119.1 % 1.85 114.0 %
Q1 2022 37.34 13.6 % 2.36 180.3 % (3.77) 54.8 %
Q2 2022 43.05 29.6 % 2.54 720.6 % (6.61) (90.8 %)
Q3 2022 43.65 46.3 % 5.46 211.4 % 0.52 103.7 %
Q4 2022 35.14 (0.3 %) (3.88) (392.9 %) (4.66) (351.5 %)
Q1 2023 41.80 12.0 % 0.39 (83.7 %) (5.55) (47.0 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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)
Q3 2020 (38.33) (2129.2 %) (2.75) (27.61) (10.73) (0.77)
Q4 2020 (62.93) (520.5 %) (4.52) (45.47) (17.46) (1.25)
Q1 2021 (9.25) (39.0 %) (0.66) - (9.25) (0.66)
Q2 2021 (4.24) 52.0 % (0.30) - (4.24) (0.30)
Q3 2021 (17.47) 54.4 % (1.10) 1.80 (19.27) (1.22)
Q4 2021 (11.25) 82.1 % (0.71) 2.35 (13.60) (0.86)
Q1 2022 (4.71) 49.0 % (0.30) - (4.71) (0.30)
Q2 2022 (17.20) (305.4 %) (1.09) (8.50) (8.70) (0.55)
Q3 2022 0.91 105.2 % 0.06 2.52 (1.61) (0.10)
Q4 2022 (3.62) 67.8 % (0.23) 5.09 (8.71) (0.55)
Q1 2023 (3.26) 30.9 % (0.21) - (3.26) (0.21)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %)
Q3 2020 (4.69 %) (2.98 %) (23.99 %)
Q4 2020 (9.61 %) (9.20 %) (33.32 %)
Q1 2021 (13.55 %) (14.60 %) (40.14 %)
Q2 2021 (9.08 %) (9.85 %) (33.33 %)
Q3 2021 (11.41 %) (15.82 %) (39.63 %)
Q4 2021 (4.73 %) (6.04 %) (35.34 %)
Q1 2022 (0.66 %) (3.55 %) (30.83 %)
Q2 2022 0.92 % (8.01 %) (31.81 %)
Q3 2022 7.34 % 2.50 % (17.97 %)
Q4 2022 4.07 % (1.12 %) (14.91 %)
Q1 2023 2.75 % (2.22 %) (13.61 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q3 2020 13.92 (4.60) (2.61) 15.64
Q4 2020 13.92 (8.39) (3.14) 10.16
Q1 2021 13.92 (8.58) (3.32) 12.72
Q2 2021 13.92 (8.25) (2.99) 12.34
Q3 2021 15.81 (5.94) (3.18) 13.90
Q4 2021 15.81 (2.67) (2.93) 13.15
Q1 2022 15.81 (2.38) (2.65) 12.85
Q2 2022 15.81 (3.20) (2.93) 11.76
Q3 2022 15.81 (2.04) (1.81) 11.82
Q4 2022 15.81 (1.56) (1.50) 11.70
Q1 2023 15.81 (1.47) (1.41) 11.49

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q3 2020 NEG NEG 2.89
Q4 2020 NEG NEG 5.97
Q1 2021 NEG NEG 4.91
Q2 2021 NEG NEG 5.37
Q3 2021 NEG NEG 4.22
Q4 2021 NEG NEG 3.28
Q1 2022 NEG NEG 3.01
Q2 2022 NEG NEG 2.35
Q3 2022 NEG NEG 2.10
Q4 2022 NEG NEG 1.78
Q1 2023 NEG NEG 2.21

Business Segments (Million)

Compared With The
Period National meals Catering Services 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 - -
Q3 2020 24.90 - -
Q4 2020 28.77 - -
Q1 2021 32.39 - 0.48
Q2 2021 33.68 - -
Q3 2021 29.83 - -
Q4 2021 32.50 - -
Q1 2022 37.07 - 0.27
Q2 2022 43.04 - 0.01
Q3 2022 42.77 - 0.88
Q1 2023 38.68 2.52 0.61


Financial Ratios
Current
Market Cap (M Riyal) 361.73
Enterprise Value (EV) (M) 364.20
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 2.65
Return on Average Assets (%) (TTM) (8.58 )
Return on Average Equity (%) (TTM) (14.46 )
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Share Price

Raydan Food Co.
22.88
0.04 0.18 %

Raydan Food Co. (RAYDAN)

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