Wafrah turns to profit of SAR 6.2 mln in Q1 2022

Wafrah turns to profit of SAR 6.2 mln in Q1 2022

09/05/2022 Argaam Exclusive

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Wafrah for Industry and Development Co. reported a net profit after Zakat and tax of SAR 6.2 million for Q1 2022, compared to a loss of SAR 199,000 in the same period a year earlier.

 

The profit is attributed to higher sales and improved average selling price, in addition to lower cost resulting from higher production volume, despite the decrease in other revenue.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 21.57 34.56 60.2 %
Gross Income 6.10 13.14 115.4 %
Operating Income (0.36) 6.74 1987.8 %
Net Income (0.20) 6.15 3191.7 %
Average Shares 19.70 19.70 0.0 %
EPS (Riyals) (0.01) 0.31 3191.8 %

Sequentially, the company turned to a net profit in Q1 2022 from a net loss of SAR 6.4 million in Q4 2021.

 

Total shareholders’ equity stood at SAR 58.993 million as of March 31, 2022, declining by 5.2% from SAR 62.202 million a year earlier.

 

Accumulated losses as of March 31, 2022 reached SAR 17.59 million, representing 22.8% from the company’s capital of SAR 77.17 million.

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2013 21.36 21.2 % 7.04 34.6 % 1.69 96.6 %
Q2 2013 25.56 2.2 % 8.48 (7.8 %) 3.24 (22.7 %)
Q3 2013 20.34 (2.9 %) 6.64 (4.0 %) 1.68 (23.5 %)
Q4 2013 18.89 14.6 % 5.99 13.3 % 1.31 107.4 %
Q1 2014 22.09 3.4 % 8.15 15.8 % 1.58 (6.8 %)
Q2 2014 26.71 4.5 % 9.61 13.3 % 2.40 (26.0 %)
Q3 2014 20.51 0.8 % 4.88 (26.4 %) (1.26) (175.0 %)
Q4 2014 17.52 (7.3 %) 3.22 (46.3 %) (4.92) (474.6 %)
Q1 2015 15.06 (31.8 %) 3.94 (51.6 %) (3.42) (316.9 %)
Q2 2015 28.82 7.9 % 7.96 (17.2 %) 0.81 (66.2 %)
Q3 2015 14.79 (27.9 %) 2.56 (47.6 %) (4.93) (292.2 %)
Q4 2015 29.37 67.6 % 10.39 223.1 % 3.00 161.0 %
Q1 2016 28.07 86.4 % 7.85 99.2 % 0.42 112.3 %
Q2 2016 22.23 (22.9 %) 7.82 (1.7 %) 1.05 28.7 %
Q3 2016 13.31 (10.0 %) (1.45) (156.6 %) (9.16) (85.6 %)
Q4 2016 17.95 (38.9 %) 1.53 (85.2 %) (5.30) (276.7 %)
Q1 2017 15.67 (44.2 %) 1.23 (84.4 %) (4.75) (1224.9 %)
Q2 2017 21.29 (4.2 %) 5.49 (29.8 %) (0.54) (152.0 %)
Q3 2017 12.37 (7.0 %) (1.74) (20.2 %) (8.01) 12.5 %
Q4 2017 11.51 (35.9 %) (19.31) (1358.8 %) (27.71) (423.0 %)
Q1 2018 24.01 53.3 % 6.83 456.8 % (0.29) 93.9 %
Q2 2018 24.10 13.2 % 8.42 53.2 % 1.89 448.4 %
Q3 2018 13.42 8.5 % (1.68) 3.7 % (9.08) (13.3 %)
Q4 2018 18.60 61.6 % (0.39) 98.0 % (5.56) 80.0 %
Q1 2019 26.24 9.3 % 7.48 9.5 % 0.82 384.7 %
Q2 2019 24.04 (0.2 %) 7.38 (12.3 %) 0.58 (69.6 %)
Q3 2019 21.27 58.5 % 4.46 366.1 % (1.79) 80.3 %
Q4 2019 11.27 (39.4 %) (2.56) (552.8 %) (10.09) (81.6 %)
Q1 2020 22.07 (15.9 %) 8.25 10.4 % 1.46 78.0 %
Q2 2020 17.12 (28.8 %) 5.29 (28.3 %) (0.78) (234.5 %)
Q3 2020 22.96 7.9 % 4.26 (4.6 %) (2.94) (64.5 %)
Q4 2020 21.63 92.0 % 1.62 163.1 % (7.60) 24.7 %
Q1 2021 21.57 (2.2 %) 6.10 (26.1 %) (0.36) (124.5 %)
Q2 2021 15.15 (11.5 %) 3.24 (38.7 %) (2.77) (257.4 %)
Q3 2021 15.97 (30.4 %) 1.34 (68.6 %) (3.04) (3.4 %)
Q4 2021 12.28 (43.2 %) 0.81 (49.8 %) (5.72) 24.7 %
Q1 2022 34.56 60.2 % 13.14 115.4 % 6.74 1987.8 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2013 1.27 156.4 % 0.06 - 1.27 0.06
Q2 2013 2.63 (25.2 %) 0.13 - 2.63 0.13
Q3 2013 1.00 (37.4 %) 0.05 - 1.00 0.05
Q4 2013 2.21 866.8 % 0.11 0.30 1.92 0.10
Q1 2014 1.06 (16.2 %) 0.05 - 1.06 0.05
Q2 2014 2.15 (18.3 %) 0.11 - 2.15 0.11
Q3 2014 0.53 (47.4 %) 0.03 - 0.53 0.03
Q4 2014 (3.29) (248.6 %) (0.17) 3.53 (6.82) (0.35)
Q1 2015 (3.74) (451.9 %) (0.19) - (3.74) (0.19)
Q2 2015 0.51 (76.4 %) 0.03 - 0.51 0.03
Q3 2015 (5.49) (1145.7 %) (0.28) - (5.49) (0.28)
Q4 2015 3.09 193.9 % 0.16 - 3.09 0.16
Q1 2016 0.14 103.8 % 0.01 - 0.14 0.01
Q2 2016 0.70 37.0 % 0.04 - 0.70 0.04
Q3 2016 (9.34) (70.0 %) (0.47) - (9.34) (0.47)
Q4 2016 (11.68) (478.3 %) (0.59) (3.29) (8.39) (0.43)
Q1 2017 (4.95) (3562.2 %) (0.25) - (4.95) (0.25)
Q2 2017 (0.50) (171.3 %) (0.03) - (0.50) (0.03)
Q3 2017 (8.26) 11.5 % (0.42) - (8.26) (0.42)
Q4 2017 (36.41) (211.7 %) (1.85) (4.52) (31.89) (1.62)
Q1 2018 (1.02) 79.4 % (0.05) - (1.02) (0.05)
Q2 2018 1.66 434.9 % 0.08 - 1.66 0.08
Q3 2018 (9.33) (12.9 %) (0.47) - (9.33) (0.47)
Q4 2018 (17.81) 51.1 % (0.90) (9.50) (8.31) (0.42)
Q1 2019 0.53 151.8 % 0.03 - 0.53 0.03
Q2 2019 0.29 (82.3 %) 0.01 - 0.29 0.01
Q3 2019 (1.81) 80.6 % (0.09) - (1.81) (0.09)
Q4 2019 (24.39) (36.9 %) (1.24) (13.43) (10.96) (0.56)
Q1 2020 1.32 148.8 % 0.07 - 1.32 0.07
Q2 2020 (0.67) (326.5 %) (0.03) - (0.67) (0.03)
Q3 2020 (2.92) (62.0 %) (0.15) - (2.92) (0.15)
Q4 2020 (10.30) 57.8 % (0.52) - (10.30) (0.52)
Q1 2021 (0.20) (115.1 %) (0.01) - (0.20) (0.01)
Q2 2021 (2.59) (288.6 %) (0.13) - (2.59) (0.13)
Q3 2021 (1.73) 40.8 % (0.09) - (1.73) (0.09)
Q4 2021 (6.41) 37.7 % (0.33) - (6.41) (0.33)
Q1 2022 6.15 3191.7 % 0.31 - 6.15 0.31

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2013 33.94 % 19.32 % 7.89 %
Q2 2013 32.87 % 17.81 % 6.79 %
Q3 2013 32.78 % 16.81 % 6.13 %
Q4 2013 32.68 % 16.52 % 7.91 %
Q1 2014 33.68 % 16.08 % 7.61 %
Q2 2014 34.53 % 14.82 % 6.96 %
Q3 2014 32.48 % 11.65 % 6.41 %
Q4 2014 29.79 % 9.00 % (3.54 %)
Q1 2015 27.14 % 5.17 % (9.88 %)
Q2 2015 24.42 % 8.95 % (11.64 %)
Q3 2015 23.20 % 2.28 % (20.41 %)
Q4 2015 28.23 % 8.87 % (6.40 %)
Q1 2016 28.46 % 12.00 % (1.73 %)
Q2 2016 30.31 % 9.85 % (1.65 %)
Q3 2016 26.48 % 9.34 % (5.82 %)
Q4 2016 19.33 % 0.67 % (20.71 %)
Q1 2017 13.21 % (6.38 %) (31.79 %)
Q2 2017 9.98 % (8.83 %) (33.98 %)
Q3 2017 9.68 % (7.39 %) (32.85 %)
Q4 2017 (23.56 %) (45.43 %) (74.95 %)
Q1 2018 (12.61 %) (35.19 %) (60.23 %)
Q2 2018 (8.06 %) (31.90 %) (54.88 %)
Q3 2018 (7.86 %) (34.21 %) (55.56 %)
Q4 2018 16.45 % (4.47 %) (21.21 %)
Q1 2019 16.79 % (3.02 %) (18.76 %)
Q2 2019 15.54 % (4.53 %) (20.43 %)
Q3 2019 20.99 % 3.97 % (10.31 %)
Q4 2019 20.24 % (1.15 %) (14.42 %)
Q1 2020 22.30 % (0.57 %) (14.19 %)
Q2 2020 21.53 % (2.56 %) (16.89 %)
Q3 2020 20.76 % (4.08 %) (18.03 %)
Q4 2020 23.17 % (0.67 %) (15.00 %)
Q1 2021 20.73 % (3.02 %) (16.91 %)
Q2 2021 18.72 % (5.81 %) (19.69 %)
Q3 2021 16.55 % (6.31 %) (19.94 %)
Q4 2021 17.69 % (5.67 %) (16.83 %)
Q1 2022 23.77 % 4.69 % (5.87 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2013 19.70 0.34 0.34 10.81
Q2 2013 19.70 0.29 0.29 10.98
Q3 2013 19.70 0.26 0.26 11.05
Q4 2013 19.70 0.36 0.35 11.19
Q1 2014 19.70 0.35 0.34 11.29
Q2 2014 19.70 0.33 0.31 11.43
Q3 2014 19.70 0.30 0.29 10.85
Q4 2014 19.70 0.02 (0.16) 10.31
Q1 2015 19.70 (0.22) (0.40) 10.11
Q2 2015 19.70 (0.30) (0.48) 10.15
Q3 2015 19.70 (0.61) (0.79) 9.86
Q4 2015 19.70 (0.29) (0.29) 10.22
Q1 2016 19.70 (0.09) (0.09) 10.03
Q2 2016 19.70 (0.08) (0.08) 10.07
Q3 2016 19.70 (0.27) (0.27) 9.80
Q4 2016 19.70 (1.02) (0.86) 9.21
Q1 2017 19.70 (1.28) (1.12) 8.95
Q2 2017 19.70 (1.34) (1.18) 8.92
Q3 2017 19.70 (1.29) (1.12) 8.50
Q4 2017 19.70 (2.54) (2.32) 6.66
Q1 2018 19.70 (2.35) (2.12) 6.49
Q2 2018 19.70 (2.24) (2.01) 6.58
Q3 2018 19.70 (2.29) (2.06) 6.11
Q4 2018 19.70 (1.35) (0.86) 5.15
Q1 2019 19.70 (1.27) (0.78) 5.19
Q2 2019 19.70 (1.34) (0.85) 5.20
Q3 2019 19.70 (0.95) (0.47) 5.10
Q4 2019 19.70 (1.29) (0.61) 3.84
Q1 2020 19.70 (1.25) (0.57) 3.94
Q2 2020 19.70 (1.30) (0.62) 3.91
Q3 2020 19.70 (1.35) (0.67) 3.78
Q4 2020 19.70 (0.64) (0.64) 3.17
Q1 2021 19.70 (0.72) (0.72) 3.16
Q2 2021 19.70 (0.81) (0.81) 3.03
Q3 2021 19.70 (0.75) (0.75) 2.94
Q4 2021 19.70 (0.55) (0.55) 2.68
Q1 2022 19.70 (0.23) (0.23) 3.00

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2013 More than 100 More than 100 4.04
Q2 2013 More than 100 More than 100 3.52
Q3 2013 More than 100 More than 100 3.28
Q4 2013 More than 100 More than 100 3.41
Q1 2014 More than 100 More than 100 3.69
Q2 2014 More than 100 More than 100 6.19
Q3 2014 More than 100 More than 100 6.37
Q4 2014 More than 100 NEG 3.89
Q1 2015 NEG NEG 4.13
Q2 2015 NEG NEG 4.41
Q3 2015 NEG NEG 3.16
Q4 2015 NEG NEG 2.99
Q1 2016 NEG NEG 2.91
Q2 2016 NEG NEG 2.96
Q3 2016 NEG NEG 2.28
Q4 2016 NEG NEG 3.27
Q1 2017 NEG NEG 3.16
Q2 2017 NEG NEG 2.83
Q3 2017 NEG NEG 3.24
Q4 2017 NEG NEG 3.69
Q1 2018 NEG NEG 3.00
Q2 2018 NEG NEG 2.64
Q3 2018 NEG NEG 2.99
Q4 2018 NEG NEG 3.86
Q1 2019 NEG NEG 3.44
Q2 2019 NEG NEG 2.83
Q3 2019 NEG NEG 2.57
Q4 2019 NEG NEG 4.28
Q1 2020 NEG NEG 3.72
Q2 2020 NEG NEG 5.20
Q3 2020 NEG NEG 10.90
Q4 2020 NEG NEG 22.40
Q1 2021 NEG NEG 26.30
Q2 2021 NEG NEG 26.15
Q3 2021 NEG NEG 24.00
Q4 2021 NEG NEG 24.84
Q1 2022 NEG NEG 20.01

Business Segments (Million)

Compared With The
Period Pasta sector Vegetable sector Meat products sector Breakfast beans sector Food Factory Dates Factory Adjustments
Q1 2012 8.72 6.33 - 0.19 2.40 - -
Q2 2012 15.37 7.12 - 0.25 2.28 - -
Q3 2012 11.47 6.39 - 0.32 2.76 - -
Q4 2012 5.43 8.49 - 0.11 2.46 - -
Q1 2013 9.13 9.50 - 0.06 2.67 - -
Q2 2013 15.90 7.34 - - 2.35 - -
Q3 2013 9.97 7.65 - 0.17 2.55 - -
Q4 2013 4.66 10.89 - 0.12 3.23 - -
Q1 2014 7.93 11.81 - 0.10 2.24 - -
Q2 2014 14.55 9.95 - 0.09 2.12 - -
Q3 2014 4.69 12.16 - 0.09 3.57 - -
Q4 2014 6.39 8.25 - 0.18 2.52 0.19 -
Q1 2015 6.08 7.65 - 0.22 1.10 - -
Q2 2015 16.17 10.68 - 0.14 1.68 0.16 -
Q3 2015 4.57 8.07 - 0.12 1.97 0.06 -
Q4 2015 8.77 18.21 - 0.09 2.19 0.10 -
Q1 2017 5.58 9.97 - 0.08 1.42 - (1.38)
Q1 2022 11.84 20.51 1.72 0.50 - - -


Financial Ratios
Current
Market Cap (M Riyal) 895.91
Enterprise Value (EV) (M) 872.72
Shares Outstanding ((M)) 23.15
EPS ( Riyal) (TTM) 1.05
Book Value (BV) ( Riyal) 10.85
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) 36.85
Price/book 3.57
Return on Average Assets (%) (TTM) 7.4
Return on Average Equity (%) (TTM) 10.0
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Share Price

Wafrah for Industry and Development Co.
38.70
(0.35) (0.90 %)

Wafrah for Industry and Development Co. (WAFRAH)

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