Savola posts SAR 172.8 mln earnings in Q1 2020

Savola posts SAR 172.8 mln earnings in Q1 2020

30/04/2020 Argaam Exclusive

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Savola Group reported net profit after Zakat and tax of SAR 172.8 million in Q1 2020, compared to SAR 6.3 million in year earlier period, driven by higher gross profit, higher sales, and improved profit margins in food and retail segments.

 

Savola also cited higher profit share from associates, and lower operating expenses.

On a sequential basis, Q1 2020 net profit after Zakat and tax increased 25.8%.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 5,387.89 5,922.88 9.9 %
Gross Income 1,065.47 1,223.00 14.8 %
Operating Income 91.74 273.38 198.0 %
Net Income 6.33 172.76 2629.1 %
Average Shares 241.05 241.05 -
EPS (Riyals) 0.03 0.72 2629.1 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2011 5,641.74 18.1 % 866.33 7.7 % 209.35 18.1 %
Q2 2011 6,312.58 29.7 % 959.88 35.2 % 277.91 104.6 %
Q3 2011 6,816.63 20.5 % 981.97 8.4 % 307.72 3.5 %
Q4 2011 6,424.75 12.2 % 1,162.55 16.9 % 468.45 41.3 %
Q1 2012 6,588.97 16.8 % 995.71 14.9 % 315.15 50.5 %
Q2 2012 6,989.08 10.7 % 1,193.39 24.3 % 449.42 61.7 %
Q3 2012 6,869.78 0.8 % 1,161.19 18.3 % 432.29 40.5 %
Q4 2012 6,943.66 8.1 % 1,411.28 21.4 % 607.10 29.6 %
Q1 2013 7,189.86 9.1 % 1,390.62 39.7 % 601.26 90.8 %
Q2 2013 6,723.33 (3.8 %) 1,263.61 5.9 % 479.79 6.8 %
Q3 2013 6,320.13 (8.0 %) 1,167.37 0.5 % 399.06 (7.7 %)
Q4 2013 5,047.40 (27.3 %) 951.93 (32.5 %) 249.23 (58.9 %)
Q1 2014 6,240.84 (13.2 %) 1,092.94 (21.4 %) 297.17 (50.6 %)
Q2 2014 7,336.58 9.1 % 1,251.38 (1.0 %) 402.68 (16.1 %)
Q3 2014 6,150.04 (2.7 %) 1,150.73 (1.4 %) 362.59 (9.1 %)
Q4 2014 6,860.38 35.9 % 1,368.67 43.8 % 414.67 66.4 %
Q1 2015 6,223.71 (0.3 %) 1,159.16 6.1 % 227.93 (23.3 %)
Q2 2015 7,036.49 (4.1 %) 1,353.24 8.1 % 326.05 (19.0 %)
Q3 2015 5,603.56 (8.9 %) 1,238.87 7.7 % 245.60 (32.3 %)
Q4 2015 6,261.83 (8.7 %) 1,274.13 (6.9 %) 189.68 (54.3 %)
Q1 2016 6,421.75 3.2 % 1,273.15 9.8 % 242.12 6.2 %
Q2 2016 7,140.78 1.5 % 1,332.79 (1.5 %) 217.40 (33.3 %)
Q3 2016 6,154.31 9.8 % 1,182.55 (4.5 %) 113.77 (53.7 %)
Q4 2016 6,613.95 5.6 % 864.48 (32.2 %) (228.79) (220.6 %)
Q1 2017 5,786.91 (9.9 %) 1,040.13 (18.3 %) 18.06 (92.5 %)
Q2 2017 6,653.26 (6.8 %) 1,140.04 (14.5 %) 74.96 (65.5 %)
Q3 2017 5,595.78 (9.1 %) 1,053.79 (10.9 %) 25.93 (77.2 %)
Q4 2017 5,794.53 (12.4 %) 1,160.16 34.2 % 154.73 167.6 %
Q1 2018 5,107.98 (11.7 %) 908.50 (12.7 %) (54.78) (403.3 %)
Q2 2018 6,147.58 (7.6 %) 1,066.86 (6.4 %) 0.33 (99.6 %)
Q3 2018 5,212.03 (6.9 %) 932.00 (11.6 %) (36.92) (242.4 %)
Q4 2018 5,346.97 (7.7 %) 990.60 (14.6 %) (6.51) (104.2 %)
Q1 2019 5,387.89 5.5 % 1,065.47 17.3 % 91.74 267.5 %
Q2 2019 5,812.70 (5.4 %) 1,163.16 9.0 % 154.71 46925.2 %
Q3 2019 5,148.13 (1.2 %) 1,084.18 16.3 % 211.60 673.2 %
Q4 2019 5,231.73 (2.2 %) 1,191.50 20.3 % 211.54 3351.0 %
Q1 2020 5,922.88 9.9 % 1,223.00 14.8 % 273.38 198.0 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2011 165.16 (58.1 %) 0.73 - 165.16 0.73
Q2 2011 230.74 11.1 % 1.02 - 230.74 1.02
Q3 2011 307.89 8.8 % 1.36 - 307.89 1.36
Q4 2011 498.59 24607.3 % 2.21 152.78 345.81 1.53
Q1 2012 242.31 46.7 % 1.07 - 242.31 1.07
Q2 2012 341.32 47.9 % 1.51 - 341.32 1.51
Q3 2012 405.22 31.6 % 1.80 - 405.22 1.80
Q4 2012 413.36 (17.1 %) 1.83 46.65 366.71 1.62
Q1 2013 295.20 21.8 % 1.29 - 295.20 1.29
Q2 2013 387.76 13.6 % 1.69 - 387.76 1.69
Q3 2013 457.36 12.9 % 1.99 - 457.36 1.99
Q4 2013 564.16 36.5 % 2.46 200.93 363.23 1.58
Q1 2014 423.26 43.4 % 1.76 5.02 418.24 1.74
Q2 2014 513.27 32.4 % 2.13 35.95 477.33 1.98
Q3 2014 701.43 53.4 % 2.91 205.74 495.69 2.06
Q4 2014 434.36 (23.0 %) 1.80 (54.13) 488.48 2.03
Q1 2015 470.51 11.2 % 1.95 227.39 243.12 1.01
Q2 2015 434.37 (15.4 %) 1.80 (0.67) 435.03 1.80
Q3 2015 371.56 (47.0 %) 1.54 5.72 365.84 1.52
Q4 2015 515.32 18.6 % 2.14 199.19 316.13 1.31
Q1 2016 119.38 (74.6 %) 0.50 (107.31) 226.69 0.94
Q2 2016 253.52 (41.6 %) 1.05 (42.26) 295.78 1.23
Q3 2016 179.51 (51.7 %) 0.74 (3.13) 182.64 0.76
Q4 2016 (915.70) (277.7 %) (3.80) (597.46) (318.23) (1.32)
Q1 2017 4.78 (96.0 %) 0.02 15.61 (10.83) (0.04)
Q2 2017 229.31 (9.5 %) 0.95 68.14 161.17 0.67
Q3 2017 829.04 361.8 % 3.44 693.94 135.10 0.56
Q4 2017 (37.51) 95.9 % (0.16) (222.02) 184.51 0.77
Q1 2018 (84.32) (1864.7 %) (0.35) 3.27 (87.58) (0.36)
Q2 2018 140.65 (38.7 %) 0.58 - 140.65 0.58
Q3 2018 (50.73) (106.1 %) (0.21) - (50.73) (0.21)
Q4 2018 (525.99) (1,302.2 %) (2.18) (300.29) (225.70) (0.94)
Q1 2019 6.33 107.5 % 0.03 42.71 (36.38) (0.15)
Q2 2019 110.23 (21.6 %) 0.46 7.56 102.67 0.43
Q3 2019 221.76 537.2 % 0.92 21.17 200.59 0.83
Q4 2019 137.31 126.1 % 0.57 66.84 70.48 0.29
Q1 2020 172.76 2629.1 % 0.72 - 172.76 0.72

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2011 15.88 % 8.17 % 3.53 %
Q2 2011 15.97 % 8.13 % 3.41 %
Q3 2011 15.52 % 7.78 % 3.36 %
Q4 2011 15.76 % 7.23 % 4.17 %
Q1 2012 15.68 % 7.39 % 4.31 %
Q2 2012 16.16 % 7.80 % 4.61 %
Q3 2012 16.79 % 8.26 % 4.97 %
Q4 2012 17.38 % 8.64 % 4.95 %
Q1 2013 18.42 % 9.48 % 5.03 %
Q2 2013 18.85 % 9.69 % 5.25 %
Q3 2013 19.25 % 9.79 % 5.55 %
Q4 2013 18.88 % 9.44 % 5.95 %
Q1 2014 18.40 % 8.63 % 6.69 %
Q2 2014 17.89 % 8.17 % 6.88 %
Q3 2014 17.95 % 8.18 % 7.08 %
Q4 2014 18.29 % 7.92 % 7.07 %
Q1 2015 18.55 % 7.64 % 6.42 %
Q2 2015 19.15 % 7.48 % 6.33 %
Q3 2015 19.90 % 7.24 % 5.96 %
Q4 2015 20.00 % 6.42 % 5.41 %
Q1 2016 20.29 % 6.53 % 5.31 %
Q2 2016 20.13 % 6.32 % 4.74 %
Q3 2016 19.49 % 5.49 % 3.93 %
Q4 2016 17.67 % 4.04 % 1.47 %
Q1 2017 17.20 % 3.34 % 0.58 %
Q2 2017 16.77 % 2.54 % 0.06 %
Q3 2017 16.63 % 2.63 % (0.13 %)
Q4 2017 18.44 % 4.53 % 1.97 %
Q1 2018 18.41 % 4.31 % 1.70 %
Q2 2018 18.50 % 4.33 % 1.65 %
Q3 2018 18.27 % 3.89 % 0.84 %
Q4 2018 17.87 % 3.05 % (1.02 %)
Q1 2019 18.35 % 4.18 % (0.78 %)
Q2 2019 19.08 % 5.40 % (0.97 %)
Q3 2019 19.84 % 7.10 % 0.19 %
Q4 2019 20.87 % 11.45 % 1.56 %
Q1 2020 21.08 % 11.92 % 2.47 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2011 225.71 2.91 3.42 31.07
Q2 2011 225.71 3.02 3.53 31.65
Q3 2011 225.71 3.13 3.65 32.25
Q4 2011 225.71 5.33 4.65 34.21
Q1 2012 225.71 5.67 4.99 36.71
Q2 2012 225.71 6.16 5.48 35.23
Q3 2012 225.71 6.59 5.91 36.09
Q4 2012 225.71 6.21 6.01 36.71
Q1 2013 229.55 6.34 6.14 35.32
Q2 2013 229.55 6.54 6.34 35.91
Q3 2013 229.55 6.77 6.57 36.87
Q4 2013 229.55 7.43 6.55 40.04
Q1 2014 241.05 7.60 6.75 41.12
Q2 2014 241.05 8.12 7.12 41.02
Q3 2014 241.05 9.14 7.28 42.88
Q4 2014 241.05 8.60 7.80 41.34
Q1 2015 241.05 8.79 7.07 41.91
Q2 2015 241.05 8.47 6.90 43.46
Q3 2015 241.05 7.10 6.36 42.62
Q4 2015 241.05 7.43 5.64 43.77
Q1 2016 241.05 5.98 5.57 40.83
Q2 2016 241.05 5.23 5.00 41.13
Q3 2016 241.05 4.43 4.24 40.99
Q4 2016 241.05 (1.51) 1.60 34.09
Q1 2017 241.05 (1.98) 0.62 34.08
Q2 2017 241.05 (2.08) 0.06 34.91
Q3 2017 241.05 0.61 (0.14) 38.14
Q4 2017 241.05 4.25 1.95 36.63
Q1 2018 241.05 3.89 1.63 35.63
Q2 2018 241.05 3.52 1.55 34.08
Q3 2018 241.05 (0.13) 0.78 31.67
Q4 2018 241.05 (2.16) (0.93) 29.57
Q1 2019 241.05 (1.78) (0.71) 29.63
Q2 2019 241.05 (1.91) (0.87) 30.03
Q3 2019 241.05 (0.78) 0.17 30.92
Q4 2019 241.05 1.97 1.40 31.49
Q1 2020 241.05 2.66 2.27 31.57

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2011 7.99 6.81 0.75
Q2 2011 7.53 6.43 0.72
Q3 2011 6.94 5.95 0.67
Q4 2011 4.50 5.15 0.70
Q1 2012 5.07 5.75 0.78
Q2 2012 4.71 5.29 0.82
Q3 2012 4.90 5.47 0.90
Q4 2012 5.38 5.56 0.91
Q1 2013 5.38 5.55 0.98
Q2 2013 6.03 6.22 1.12
Q3 2013 6.49 6.69 1.21
Q4 2013 6.94 7.87 1.23
Q1 2014 6.92 7.79 1.28
Q2 2014 6.65 7.58 1.32
Q3 2014 7.12 8.93 1.52
Q4 2014 7.16 7.89 1.49
Q1 2015 6.08 7.56 1.28
Q2 2015 6.32 7.76 1.23
Q3 2015 6.39 7.13 1.06
Q4 2015 5.29 6.96 0.90
Q1 2016 5.46 5.86 0.80
Q2 2016 5.46 5.71 0.69
Q3 2016 5.63 5.88 0.61
Q4 2016 NEG 19.55 0.92
Q1 2017 NEG 52.04 0.95
Q2 2017 NEG More than 100 1.13
Q3 2017 58.36 NEG 0.94
Q4 2017 7.26 15.84 0.84
Q1 2018 8.90 21.20 0.97
Q2 2018 8.28 18.84 0.85
Q3 2018 NEG 30.42 0.74
Q4 2018 NEG NEG 0.71
Q1 2019 NEG NEG 0.83
Q2 2019 NEG NEG 0.85
Q3 2019 NEG More than 100 0.78
Q4 2019 13.61 19.19 0.85
Q1 2020 10.48 12.31 0.88

Business Segments (Million)

Compared With The
Period Food sector Retail sector Food services Frozen food Investments Plastic Manufacturing & Whole sale sector Disposals
Q1 2011 3,296.45 2,161.01 - - 32.59 209.36 - (57.66)
Q2 2011 3,875.14 2,216.41 - - 26.04 261.85 - (68.54)
Q3 2011 4,069.58 2,489.74 - - 34.65 274.60 - (50.26)
Q4 2011 3,982.74 2,314.39 - - 29.54 255.73 - (157.65)
Q1 2012 4,068.67 2,329.29 - - 20.45 236.24 - (65.67)
Q2 2012 4,327.47 2,427.10 - - 19.71 290.20 - (75.41)
Q3 2012 3,915.84 2,722.23 - - 19.71 273.72 - (61.72)
Q4 2012 4,076.70 2,677.90 - - 78.67 253.03 - (142.63)
Q1 2013 4,386.49 2,606.25 - - 19.29 249.06 - (71.22)
Q2 2013 3,859.23 2,635.50 - - 19.29 304.51 - (95.20)
Q3 2013 3,241.41 2,813.52 - - 19.29 304.95 - (59.03)
Q4 2013 3,065.27 2,869.33 - - 83.10 (858.51) - (111.80)
Q1 2014 3,463.82 2,818.18 - - 16.37 - - (57.53)
Q2 2014 4,119.66 3,283.45 - - 15.32 - - (81.85)
Q3 2014 3,336.91 2,868.20 - - 15.33 - - (70.40)
Q4 2014 3,671.56 3,234.54 - - 80.15 - - (125.88)
Q1 2015 3,086.66 3,192.49 - - 14.69 - - (70.13)
Q2 2015 3,369.06 3,781.59 - - 14.69 - - (128.85)
Q3 2015 2,553.93 3,091.95 - - 14.69 - - (57.01)
Q4 2015 2,802.55 3,466.70 - - 100.78 - - (108.20)
Q1 2016 2,924.81 3,271.22 283.55 - 13.75 - - (71.58)
Q2 2016 3,102.65 3,873.85 277.73 - 13.75 - - (127.20)
Q3 2016 2,717.25 3,174.73 315.17 - 13.75 - - (66.58)
Q4 2016 3,142.01 3,252.58 280.23 - 96.36 - - (157.23)
Q1 2017 2,954.09 2,674.10 275.01 - 11.54 - - (127.83)
Q2 2017 3,145.94 3,331.50 272.10 - 11.61 - - (107.89)
Q3 2017 2,698.83 2,653.43 311.72 - 11.61 - - (79.82)
Q4 2017 2,585.35 2,984.00 298.96 - 10.58 - - (84.36)
Q1 2018 2,571.71 2,377.14 286.30 - 11.41 - - (138.57)
Q2 2018 2,692.86 3,230.09 293.13 - 11.40 - - (79.90)
Q3 2018 2,309.97 2,643.85 322.65 - 11.29 - - (75.71)
Q4 2018 2,160.94 2,866.52 325.20 94.11 12.94 - - (112.73)
Q1 2019 2,408.41 2,670.53 313.40 128.90 10.99 - - (144.35)
Q2 2019 2,349.92 2,867.97 309.30 181.73 10.35 - - (80.60)
Q3 2019 2,184.53 2,559.15 339.08 142.48 10.60 - - (87.71)
Q4 2019 2,266.36 2,562.11 326.52 166.94 11.66 - - (101.86)
Q1 2020 2,475.72 3,098.78 296.93 191.76 10.80 - - (151.10)

Analysts Estimates (Million)

Item Q1 2020 (e) Q1 2020 (a) Change‬
Average 81.00 172.76 113.28 %

Estimates vs Actual (Million)

Item Q1 2020 (e) Q1 2020 (a) Change
Al Rajhi Capital 122.00 172.76 41.6 %
SNB Capital 40.00 172.76 331.9 %


Financial Ratios
Current
Market Cap (M Riyal) 10,080.00
Enterprise Value (EV) (M) 11,312.10
Shares Outstanding ((M)) 300.00
EPS ( Riyal) (TTM) 2.97
Book Value (BV) ( Riyal) 49.09
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 12.92
P/E (TTM) 11.30
Price/book 0.68
Return on Average Assets (%) (TTM) 2.8
Return on Average Equity (%) (TTM) 7.7
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Share Price

Savola Group
33.60
3.05 9.98 %

Savola Group (SAVOLA GROUP)

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