Horizon Food net profit down 44% to SAR 2.6 mln in H1 2023

Horizon Food net profit down 44% to SAR 2.6 mln in H1 2023

04/10/2023 Argaam Exclusive

View other reports

Horizon Food Co. posted a net profit of SAR 2.6 million in H1 2023, a 44% decline from SAR 4.7 million a year earlier.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 35.70 26.33 (26.2 %)
Gross Income 8.64 7.88 (8.8 %)
Operating Income 4.96 2.67 (46.1 %)
Net Income 4.68 2.61 (44.2 %)
Average Shares 8.00 8.00 -
EPS (Riyals) 0.59 0.33 (44.2 %)

Net profit inched lower as sales fell 26% year-on-year (YoY) and administrative and general expenses rose due to non-recurring costs related to listings and appointments as well as the application of governance.

 

This is in addition to the increase in selling and marketing expenses and modification of the system of disbursing commissions and incentives.



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 35.70 26.33 (26.2 %)
Gross Income 8.64 7.88 (8.8 %)
Operating Income 4.96 2.67 (46.1 %)
Net Income 4.68 2.61 (44.2 %)
Average Shares 8.00 8.00 -
EPS (Riyals) 0.59 0.33 (44.2 %)

Shareholders’ equity, no minority interest, stood at SAR 95.66 million as of June 30, 2023, compared to SAR 88.89 million a year earlier.

 

Quarterly Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H2 2020

27.24

3.29

0.41

H1 2021

22.11

3.62

0.45

H2 2021

31.64

6.55

0.82

H1 2022

35.70

4.68

0.59

H2 2022

30.95

4.21

0.53

H1 2023

26.33

2.61

0.33

 

View more financial results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 - - - - - -
H2 2020 - - - - - -
H1 2021 22.11 - 6.93 - 3.73 -
H2 2021 31.64 - 9.76 - 6.62 -
H1 2022 35.70 61.5 % 8.64 24.7 % 4.96 32.8 %
H2 2022 30.96 (2.2 %) 10.66 9.2 % 4.17 (37.1 %)
H1 2023 26.33 (26.2 %) 7.88 (8.8 %) 2.67 (46.1 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 - - - - - -
H2 2020 - - - - - -
H1 2021 3.62 - 1.17 - 3.62 1.17
H2 2021 6.54 - 0.82 - 6.54 0.82
H1 2022 4.68 29.2 % 0.59 - 4.68 0.59
H2 2022 4.21 (35.7 %) 0.53 - 4.21 0.53
H1 2023 2.61 (44.2 %) 0.33 - 2.61 0.33

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 31.06 % 23.18 % 18.91 %
H1 2022 27.33 % 21.14 % 16.67 %
H2 2022 28.95 % 18.50 % 13.33 %
H1 2023 32.36 % 18.38 % 11.90 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2014 - - - -
H2 2014 - - - -
H1 2015 - - - -
H2 2015 - - - -
H1 2016 - - - -
H2 2016 - - - -
H1 2017 - - - -
H2 2017 - - - -
H1 2018 - - - -
H2 2018 - - - -
H1 2019 - - - -
H2 2019 - - - -
H1 2020 - - - -
H2 2020 - - - -
H1 2021 3.11 - - 9.13
H2 2021 8.00 1.27 1.27 10.53
H1 2022 8.00 1.40 1.40 11.11
H2 2022 8.00 1.11 1.11 11.63
H1 2023 8.00 0.85 0.85 11.96

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 - - -
H1 2022 - - -
H2 2022 - - -
H1 2023 66.90 66.90 4.77

Business Segments (Million)

Compared With The
Period Chicken shawarma sales Meat shawarma sales Doner Kebab Sales
Q2 2023 21.19 4.63 0.51


Share Price

Horizon Food Co.
38.80
0.00 0.00 %

Horizon Food Co. (HORIZON FOOD)

More

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

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

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
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.