Raydan Food turns to profit of SAR 997,500 in H1 2023; Q2 at SAR 4.3 mln

Raydan Food turns to profit of SAR 997,500 in H1 2023; Q2 at SAR 4.3 mln

10/08/2023 Argaam Exclusive

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Raydan Food Co. reported a net profit of nearly SAR 997,500 in H1 2023, against a loss of SAR 21.9 million a year earlier.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 80.39 103.08 28.2 %
Gross Income 4.91 8.20 67.1 %
Operating Income (10.38) (3.35) 67.8 %
Net Income (21.91) 1.00 104.6 %
Average Shares 15.81 15.81 0.0 %
EPS (Riyals) (1.39) 0.06 104.6 %

The company reported higher sales and other revenues, lower general and administrative expenses and reversal of an impairment in the value of a right of use assets. In addition, Raydan Food realized profits from disposal of property, plant and equipment, and profits from the associate company.



Current Quarter Comparison (M)

Compared With The
Item Q2 2022 Q2 2023 Change‬
Revenues 43.05 61.27 42.3 %
Gross Income 2.54 7.82 207.2 %
Operating Income (6.61) 2.20 133.3 %
Net Income (17.20) 4.25 124.7 %
Average Shares 15.81 15.81 0.0 %
EPS (Riyals) (1.09) 0.27 124.7 %

The company reported a net profit of SAR 4.3 million in Q2 2023, against a loss of SAR 17.2 million in Q2 2022.

 

Sequentially, Raydan Food turned to a profit from a loss of SAR 3.26 million in Q1 2023.

 

Shareholders’ equity, after minority interest, stood at SAR 185.92 million as of June 30, 2023, from SAR 185.91 million a year earlier.

View More Financial Results

 

 


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2014 - - - - - - -
Q2 2014 - - - - - - -
Q3 2014 - - - - - - -
Q4 2014 - - - - - - -
Q1 2015 - - - - - - -
Q2 2015 - - - - - - -
Q3 2015 - - - - - - -
Q4 2015 - - - - - - -
Q1 2016 74.82 - 18.82 - 11.86 - 0.85
Q2 2016 74.72 - 20.75 - 10.58 - 0.76
Q3 2016 85.21 - 19.68 - 14.07 - 1.01
Q4 2016 65.19 - 10.44 - 5.86 - 0.42
Q1 2017 62.74 (16.1 %) 13.25 (29.6 %) 6.87 (42.0 %) 0.49
Q2 2017 69.47 (7.0 %) 13.43 (35.3 %) 6.56 (38.0 %) 0.47
Q3 2017 72.37 (15.1 %) 17.65 (10.3 %) 10.59 (24.7 %) 0.76
Q4 2017 58.02 (11.0 %) 11.57 10.8 % 4.13 (29.4 %) 0.30
Q1 2018 54.67 (12.9 %) 10.19 (23.1 %) 5.16 (24.9 %) 0.37
Q2 2018 60.40 (13.1 %) 13.29 (1.1 %) 7.04 7.3 % 0.51
Q3 2018 62.06 (14.2 %) 11.46 (35.0 %) 5.84 (44.9 %) 0.42
Q4 2018 56.56 (2.5 %) 7.35 (36.5 %) (3.33) (180.5 %) (0.24)
Q1 2019 54.74 0.1 % 6.50 (36.2 %) 0.71 (86.2 %) 0.05
Q2 2019 63.12 4.5 % 7.23 (45.5 %) 2.76 (60.8 %) 0.20
Q3 2019 61.31 (1.2 %) 7.42 (35.3 %) 1.89 (67.6 %) 0.14
Q4 2019 51.32 (9.3 %) (1.44) (119.6 %) (10.14) (204.7 %) (0.73)
Q1 2020 48.68 (11.1 %) 0.08 (98.8 %) (6.66) (1037.3 %) (0.48)
Q2 2020 23.41 (62.9 %) (3.96) (154.7 %) (8.84) (419.8 %) (0.64)
Q3 2020 28.17 (54.1 %) (1.79) (124.1 %) (38.33) (2129.2 %) (2.75)
Q4 2020 30.81 (40.0 %) (6.93) (380.9 %) (62.93) (520.5 %) (4.52)
Q1 2021 32.87 (32.5 %) (2.94) (3873.1 %) (9.25) (39.0 %) (0.66)
Q2 2021 33.20 41.8 % 0.31 107.8 % (4.24) 52.0 % (0.30)
Q3 2021 29.83 5.9 % (4.90) (173.7 %) (17.47) 54.4 % (1.10)
Q4 2021 35.26 14.4 % 1.33 119.1 % (11.25) 82.1 % (0.71)
Q1 2022 37.34 13.6 % 2.36 180.3 % (4.71) 49.0 % (0.30)
Q2 2022 43.05 29.6 % 2.54 720.6 % (17.20) (305.4 %) (1.09)
Q3 2022 43.65 46.3 % 5.46 211.4 % 0.91 105.2 % 0.06
Q4 2022 35.14 (0.3 %) (3.88) (392.9 %) (3.62) 67.8 % (0.23)
Q1 2023 41.80 12.0 % 0.39 (83.7 %) (3.26) 30.9 % (0.21)
Q2 2023 61.27 42.3 % 7.82 207.2 % 4.25 124.7 % 0.27

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 %)
Q2 2023 5.38 % 4.42 % (5.12 %)


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
Q2 2023 15.81 (0.11) (0.59) 11.76

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
Q2 2023 NEG NEG 2.36

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
Q2 2023 60.13 - 1.15


Financial Ratios
Current
Market Cap (M Riyal) 463.23
Enterprise Value (EV) (M) 467.64
Shares Outstanding ((M)) 15.81
EPS ( Riyal) (TTM) (0.61)
Book Value (BV) ( Riyal) 9.53
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) NEG
Price/book 3.07
Return on Average Assets (%) (TTM) (3.56 )
Return on Average Equity (%) (TTM) (5.83 )
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Share Price

Raydan Food Co.
29.30
(0.45) (1.51 %)

Raydan Food Co. (RAYDAN)

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