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

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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.



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 Net Income Change EPS(Riyal)
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 - - - - - - -
Q1 2023 - - - - - - -
Q2 2023 - - - - - - -

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 - - -
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 - - -
Q1 2023 - - -
Q2 2023 - - -


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 - - - -
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 - - - -
Q1 2023 - - - -
Q2 2023 - - - -

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 - - -
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 - - -
Q1 2023 - - -
Q2 2023 - - -


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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