Almunajem Q1 2024 profit leaps 39.2% to SAR 114M

12/05/2024 Argaam Exclusive

View other reports

Almunajem Foods Co. reported a net profit of SAR 114 million for Q1 2024, a leap of 39.2% from SAR 81.9 million in the prior-year period.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2023	Q1 2024	Change‬
Revenues	901.96	902.95	0.1 %
Gross Income	155.71	195.76	25.7 %
Operating Income	81.73	116.83	42.9 %
Net Income	81.88	114.00	39.2 %
Average Shares	60.00	60.00	-
EPS (Riyals)	1.36	1.90	39.2 %

Item	Q4 2023	Q1 2024	Change‬
Revenues	829.18	902.95	8.9 %
Gross Income	156.47	195.76	25.1 %
Operating Income	86.50	116.83	35.1 %
Net Income	81.62	114.00	39.7 %
Average Shares	60.00	60.00	-
EPS (Riyals)	1.36	1.90	39.7 %

The first-quarter net profit was backed by a 0.1% year-on-year (YoY) revenue increase, due to the growth in sales volumes of all segments, except for white and red meat, buoyed by improved commercial conditions.

Gross profits increased 25.7% YoY on improved gross profit margins of some segments such as white and red meat, dairy products, vegetables and fruits.

On the other hand, operating expenses (OpEx) jumped YoY in Q1 2024 on higher marketing expenses during the holy month of Ramadan.

Compared to the previous quarter, net earnings jumped by 39.7% from SAR 81.62 million, thanks to an 8.9% increase quarter-on-quarter (QoQ) in revenue on higher sales growth. Gross profit also rose by 25.1% QoQ to SAR 195.8 million.

Shareholders’ equity, no minority interest, rose to SAR 1.04 billion as of March 31, 2024, from SAR 982.4 million a year earlier.

View More Financial Results

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	2,482.24	-	383.93	-	161.99	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	2,497.35	0.6 %	411.87	7.3 %	184.38	13.8 %
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	2,419.06	(3.1 %)	334.65	(18.7 %)	104.03	(43.6 %)
Q1 2020	687.58	-	138.11	-	77.63	-
Q2 2020	602.41	-	126.89	-	61.62	-
Q3 2020	626.38	-	122.27	-	60.68	-
Q4 2020	622.09	-	100.28	-	30.96	-
2020	2,538.45	4.9 %	487.55	45.7 %	230.88	121.9 %
Q1 2021	628.06	(8.7 %)	97.44	(29.5 %)	33.21	(57.2 %)
Q2 2021	614.48	2.0 %	109.00	(14.1 %)	41.10	(33.3 %)
Q3 2021	654.99	4.6 %	119.60	(2.2 %)	55.44	(8.6 %)
Q4 2021	679.50	9.2 %	115.34	15.0 %	49.12	58.6 %
2021	2,577.02	1.5 %	441.37	(9.5 %)	178.88	(22.5 %)
Q1 2022	788.01	25.5 %	172.53	77.1 %	101.18	204.7 %
Q2 2022	712.48	15.9 %	195.96	79.8 %	121.75	196.2 %
Q3 2022	730.20	11.5 %	123.78	3.5 %	55.23	(0.4 %)
Q4 2022	747.84	10.1 %	90.99	(21.1 %)	23.88	(51.4 %)
2022	2,978.52	15.6 %	583.26	32.1 %	302.04	68.9 %
Q1 2023	901.96	14.5 %	155.71	(9.7 %)	81.73	(19.2 %)
Q2 2023	772.39	8.4 %	135.22	(31.0 %)	60.74	(50.1 %)
Q3 2023	810.88	11.0 %	134.91	9.0 %	64.66	17.1 %
Q4 2023	829.18	10.9 %	156.47	72.0 %	86.50	262.2 %
2023	3,314.40	11.3 %	582.31	(0.2 %)	293.64	(2.8 %)
Q1 2024	902.95	0.1 %	195.76	25.7 %	116.83	42.9 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	2,482.24	-	383.93	-	161.99	-
2018	2,497.35	0.6 %	411.87	7.3 %	184.38	13.8 %
2019	2,419.06	(3.1 %)	334.65	(18.7 %)	104.03	(43.6 %)
2020	2,538.45	4.9 %	487.55	45.7 %	230.88	121.9 %
2021	2,577.02	1.5 %	441.37	(9.5 %)	178.88	(22.5 %)
2022	2,978.52	15.6 %	583.26	32.1 %	302.04	68.9 %
2023	3,314.40	11.3 %	582.31	(0.2 %)	293.64	(2.8 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	163.25	-	2.72	-	163.25	2.72
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	149.48	(8.4 %)	2.49	(23.48)	172.96	2.88
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	109.17	(27.0 %)	1.82	12.41	96.76	1.61
Q1 2020	75.67	-	1.26	-	75.67	1.26
Q2 2020	59.42	-	0.99	-	59.42	0.99
Q3 2020	66.80	-	1.11	10.25	56.55	0.94
Q4 2020	27.79	-	0.46	-	27.79	0.46
2020	229.68	110.4 %	3.83	10.25	219.43	3.66
Q1 2021	29.47	(61.1 %)	0.49	-	29.47	0.49
Q2 2021	37.99	(36.1 %)	0.63	-	37.99	0.63
Q3 2021	52.66	(21.2 %)	0.88	-	52.66	0.88
Q4 2021	45.98	65.5 %	0.77	-	45.98	0.77
2021	166.09	(27.7 %)	2.77	-	166.09	2.77
Q1 2022	97.56	231.1 %	1.63	-	97.56	1.63
Q2 2022	122.12	221.5 %	2.04	2.50	119.62	1.99
Q3 2022	53.62	1.8 %	0.89	-	53.62	0.89
Q4 2022	16.90	(63.2 %)	0.28	-	16.90	0.28
2022	290.20	74.7 %	4.84	2.50	287.70	4.80
Q1 2023	81.88	(16.1 %)	1.36	5.50	76.38	1.27
Q2 2023	57.56	(52.9 %)	0.96	-	57.56	0.96
Q3 2023	61.14	14.0 %	1.02	-	61.14	1.02
Q4 2023	81.62	383.1 %	1.36	-	81.62	1.36
2023	282.21	(2.8 %)	4.70	5.50	276.71	4.61
Q1 2024	114.00	39.2 %	1.90	-	114.00	1.90

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	163.25	-	2.72	-	163.25	2.72
2018	149.48	(8.4 %)	2.49	(23.48)	172.96	2.88
2019	109.17	(27.0 %)	1.82	12.41	96.76	1.61
2020	229.68	110.4 %	3.83	10.25	219.43	3.66
2021	166.09	(27.7 %)	2.77	-	166.09	2.77
2022	290.20	74.7 %	4.84	2.50	287.70	4.80
2023	282.21	(2.8 %)	4.70	5.50	276.71	4.61

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
2017	15.47 %	7.62 %	6.58 %
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
2018	16.49 %	8.49 %	6.93 %
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
2019	13.83 %	5.71 %	4.00 %
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	19.21 %	10.55 %	8.64 %
2020	19.21 %	10.55 %	8.64 %
Q1 2021	18.03 %	9.02 %	6.99 %
Q2 2021	17.22 %	8.14 %	6.09 %
Q3 2021	16.92 %	7.82 %	5.87 %
Q4 2021	17.13 %	8.34 %	6.45 %
2021	17.13 %	8.34 %	6.45 %
Q1 2022	18.87 %	10.35 %	8.56 %
Q2 2022	21.28 %	12.86 %	11.14 %
Q3 2022	20.88 %	12.56 %	10.89 %
Q4 2022	19.58 %	11.45 %	9.66 %
2022	19.58 %	11.45 %	9.66 %
Q1 2023	18.32 %	10.37 %	8.62 %
Q2 2023	16.04 %	8.22 %	6.49 %
Q3 2023	15.99 %	8.29 %	6.56 %
Q4 2023	17.57 %	9.96 %	8.35 %
2023	17.57 %	9.96 %	8.35 %
Q1 2024	18.77 %	11.04 %	9.48 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	15.47 %	7.62 %	6.58 %
2018	16.49 %	8.49 %	6.93 %
2019	13.83 %	5.71 %	4.00 %
2020	19.21 %	10.55 %	8.64 %
2021	17.13 %	8.34 %	6.45 %
2022	19.58 %	11.45 %	9.66 %
2023	17.57 %	9.96 %	8.35 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	20.09 %	12.60 %	11.00 %
Q2 2020	21.06 %	11.76 %	9.86 %
Q3 2020	19.52 %	11.21 %	9.03 %
Q4 2020	16.12 %	6.46 %	4.47 %
Q1 2021	15.51 %	6.73 %	4.69 %
Q2 2021	17.74 %	8.17 %	6.18 %
Q3 2021	18.26 %	9.81 %	8.04 %
Q4 2021	16.97 %	8.57 %	6.77 %
Q1 2022	21.89 %	14.04 %	12.38 %
Q2 2022	27.50 %	18.45 %	16.79 %
Q3 2022	16.95 %	8.91 %	7.34 %
Q4 2022	12.17 %	4.53 %	2.26 %
Q1 2023	17.26 %	10.01 %	8.47 %
Q2 2023	17.51 %	9.07 %	7.45 %
Q3 2023	16.64 %	9.12 %	7.54 %
Q4 2023	18.87 %	11.55 %	9.84 %
Q1 2024	21.68 %	13.98 %	12.63 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2015	-	-	-	-
Q2 2015	-	-	-	-
Q3 2015	-	-	-	-
Q4 2015	-	-	-	-
Q1 2016	-	-	-	-
Q2 2016	-	-	-	-
Q3 2016	-	-	-	-
Q4 2016	-	-	-	-
Q1 2017	-	-	-	-
Q2 2017	-	-	-	-
Q3 2017	-	-	-	-
Q4 2017	-	-	-	-
Q1 2018	-	-	-	-
Q2 2018	-	-	-	-
Q3 2018	-	-	-	-
Q4 2018	-	-	-	-
Q1 2019	-	-	-	-
Q2 2019	-	-	-	-
Q3 2019	-	-	-	-
Q4 2019	-	-	-	-
Q1 2020	60.00	-	-	8.99
Q2 2020	60.00	-	-	8.76
Q3 2020	60.00	-	-	8.41
Q4 2020	60.00	3.83	3.66	10.67
Q1 2021	60.00	3.06	2.89	11.17
Q2 2021	60.00	2.70	2.53	11.80
Q3 2021	60.00	2.47	2.47	12.68
Q4 2021	60.00	2.77	2.77	13.41
Q1 2022	60.00	3.90	3.90	15.04
Q2 2022	60.00	5.31	5.26	15.07
Q3 2022	60.00	5.32	5.28	14.72
Q4 2022	60.00	4.84	4.80	15.01
Q1 2023	60.00	4.58	4.44	16.37
Q2 2023	60.00	3.50	3.41	16.33
Q3 2023	60.00	3.62	3.53	16.10
Q4 2023	60.00	4.70	4.61	15.46
Q1 2024	60.00	5.24	5.24	17.36

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	60.00	2.72	2.72	8.88
2018	60.00	2.49	2.88	7.97
2019	60.00	1.82	1.61	7.73
2020	60.00	3.83	3.66	10.67
2021	60.00	2.77	2.77	13.41
2022	60.00	4.84	4.80	15.01
2023	60.00	4.70	4.61	15.46

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	20.99	20.99	4.33
Q1 2022	15.63	15.63	4.06
Q2 2022	11.10	11.19	3.91
Q3 2022	12.97	13.07	4.69
Q4 2022	12.69	12.80	4.09
Q1 2023	12.72	13.10	3.55
Q2 2023	18.72	19.22	4.01
Q3 2023	19.37	19.87	4.36
Q4 2023	15.67	15.98	4.77
Q1 2024	20.46	20.46	6.18

Period	P/E	Adjusted P/E	Price/book
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	20.99	20.99	4.33
2022	12.69	12.80	4.09
2023	15.67	15.98	4.77

Business Segments (Million)

Compared With The

Period	Wholesale goods-in-transit& food services	Retail goods-in-transit	Storage rent revenue
Q1 2020	401.89	284.09	1.60
Q2 2020	304.78	295.59	2.04
Q3 2020	384.57	239.88	1.93
Q4 2020	392.00	228.55	1.54
Q1 2021	348.08	278.34	1.63
Q2 2021	378.14	234.31	2.04
Q3 2021	421.05	231.70	2.24
Q4 2021	442.62	234.47	2.40
Q1 2022	458.20	326.49	3.32
Q2 2022	421.01	288.15	3.31
Q3 2022	427.49	299.79	2.92
Q4 2022	442.14	303.20	2.50
Q1 2023	485.63	412.86	3.48
Q2 2023	492.04	276.47	3.88
Q3 2023	484.79	323.02	3.06
Q4 2023	515.97	310.21	3.00
Q1 2024	478.62	421.70	2.63

Period	Wholesale goods-in-transit& food services	Retail goods-in-transit	Storage rent revenue
2019	1,543.80	867.45	7.81
2020	1,483.24	1,048.11	7.10
2021	1,589.88	978.83	8.31
2022	1,748.94	1,217.54	12.04
2023	1,978.42	1,322.57	13.42

Analysts Estimates (Million)

Item	Q1 2024 (e)	Q1 2024 (a)	Change‬
Average	107.00	114.00	6.54 %

Estimates vs Actual (Million)

Item	Q1 2024 (e)	Q1 2024 (a)	Change
Al Rajhi Capital	107.00	114.00	6.5 %

Financial Ratios

	Current
Market Cap (M Riyal)	5,790.00
Enterprise Value (EV) (M)	5,813.52
Shares Outstanding ((M))	60.00
EPS ( Riyal) (TTM)	5.00
Book Value (BV) ( Riyal)	17.85
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	19.30
P/E (TTM)	19.30
Price/book	5.41
Return on Average Assets (%) (TTM)	18.4
Return on Average Equity (%) (TTM)	29.5

Almunajem Foods Co. (ALMUNAJEM)

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Almunajem Q1 2024 profit leaps 39.2% to SAR 114M

View other reports

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)

Revenue by Business Segment (Latest) 2024 Q1

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Almunajem Foods Co. (ALMUNAJEM)

Comments {{getCommentCount()}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}}

×

Almunajem Q1 2024 profit leaps 39.2% to SAR 114M

View other reports

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) Q1 2024

Revenue by Business Segment (Latest) 2024 Q1

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Almunajem Foods Co. (ALMUNAJEM)

Comments {{getCommentCount()}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}}

Business Segments (Million)