Horizon Food profit jumps 70% to SAR 4.4M in H1 2024

Horizon Food profit jumps 70% to SAR 4.4M in H1 2024

22/08/2024 Argaam Exclusive

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Horizon Food Co. posted a net profit of SAR 4.4 million in H1 2024, a 70% increase from SAR 2.6 million a year earlier, as revenue rose on higher sales.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 26.33 30.13 14.4 %
Gross Income 7.88 9.40 19.3 %
Operating Income 2.67 4.50 68.4 %
Net Income 2.61 4.44 70.1 %
Average Shares 8.00 8.00 -
EPS (Riyals) 0.33 0.55 70.1 %

The company also noted a decrease in operating costs and administrative expenses.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 26.33 30.13 14.4 %
Gross Income 7.88 9.40 19.3 %
Operating Income 2.67 4.50 68.4 %
Net Income 2.61 4.44 70.1 %
Average Shares 8.00 8.00 -
EPS (Riyals) 0.33 0.55 70.1 %

Shareholders’ equity, excluding minority interest, stood at SAR 106.79 million as of June 30, 2024, compared to SAR 95.66 million a year earlier.

 

Historical Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2021

22.11

3.62

1.17

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

H2 2023

28.78

6.64

0.83

H1 2024

30.12

4.44

0.55

 

View more financial results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %)
H2 2023 28.79 (7.0 %) 8.59 (19.4 %) 4.31 3.4 %
H1 2024 30.13 14.4 % 9.40 19.3 % 4.50 68.4 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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
H2 2023 6.64 57.8 % 0.83 2.30 4.34 0.54
H1 2024 4.44 70.1 % 0.55 - 4.44 0.55

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %
H2 2023 29.89 % 18.73 % 12.61 %
H1 2024 30.55 % 20.06 % 14.90 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
H2 2023 8.00 1.16 0.87 12.79
H1 2024 8.00 1.38 1.10 13.35

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
H2 2023 55.10 73.33 4.98
H1 2024 35.68 45.02 3.70

Business Segments (Million)

Compared With The
Period Chicken shawarma sales Meat shawarma sales Doner Kebab Sales
Q2 2023 21.19 4.63 0.51
Q4 2023 22.94 5.58 0.27
Q2 2024 25.08 4.78 0.27


Share Price

Horizon Food Co.
38.80
0.00 0.00 %

Horizon Food Co. (HORIZON FOOD)

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