Horizon Food posts 13% fall in 2022 profit to SAR 8.9 mln

Horizon Food posts 13% fall in 2022 profit to SAR 8.9 mln

30/03/2023 Argaam Exclusive

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Horizon Food Co. reported a 13% drop in 2022 net profit to SAR 8.9 million, compared to SAR 10.2 million a year earlier.



Financials (M)

Item 2021 2022 Change‬
Revenues 53.75 66.65 24.0 %
Gross Income 16.69 19.30 15.6 %
Operating Income 10.36 9.13 (11.9 %)
Net Income 10.17 8.89 (12.6 %)
Average Shares 8.00 8.00 -
EPS (Riyals) 1.27 1.11 (12.6 %)

The cost of revenue rose 71% year-on-year (YoY) in 2022, and the selling and marketing expenses increased due to higher sales and geographical expansion. In addition, the administrative expenses related to the implementation of governance and the conversion to a joint stock company rose in 2022.



Shareholders' equity, no minority interest, reached SAR 93.1 million by the end of 2022, compared to SAR 84.2 million a year earlier.

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Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
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 - - - - - - -
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 11.40 - 3.56 - 1.90 - 0.61
Q2 2021 10.71 - 3.37 - 1.73 - 0.56
Q3 2021 - - - - - - -
Q4 2021 - - - - - - -
Q1 2022 18.58 62.9 % 3.74 5.1 % 1.76 (7.2 %) 0.22
Q2 2022 17.12 59.9 % 4.90 45.4 % 2.92 69.2 % 0.37
Q3 2022 - - - - - - -
Q4 2022 - - - - - - -
2022 66.65 24.0 % 19.30 15.6 % 8.89 (12.6 %) 1.11

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 - - -
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 31.22 % - 16.63 %
Q2 2021 31.35 % - 16.39 %
Q3 2021 - - -
Q4 2021 - - -
Q1 2022 26.23 % - 13.23 %
Q2 2022 26.94 % 17.43 % 14.37 %
Q3 2022 - - -
Q4 2022 - - -
2022 28.95 % 18.50 % 13.33 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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 - - - -
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 3.11 0.61 0.61 -
Q2 2021 3.11 1.17 1.17 9.13
Q3 2021 - - - -
Q4 2021 - - - -
Q1 2022 8.00 0.67 0.67 -
Q2 2022 8.00 1.04 1.04 11.11
Q3 2022 - - - -
Q4 2022 - - - -

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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 - - -
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 - - -
Q1 2022 - - -
Q2 2022 - - -
Q3 2022 - - -
Q4 2022 - - -


Financial Ratios
Current
Market Cap (M Riyal) 395.20
Enterprise Value (EV) (M) 388.34
Shares Outstanding ((M)) 8.00
Book Value (BV) ( Riyal) 12.79
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
Price/book 3.86
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Share Price

Horizon Food Co.
49.40
(0.40) (0.80 %)

Horizon Food Co. (HORIZON FOOD)

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