Halwani widens 9M 2023 loss to SAR 70.6 mln; Q3 at SAR 42.5 mln

01/11/2023 Argaam Exclusive

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Halwani Bros Co. slid into a deeper net loss of SAR 70.6 million in first nine months of 2023, compared to SAR 5.1 million in the year-earlier period.

Financials (M)

Item	9m 2022	9m 2023	Change‬
Revenues	769.80	649.09	(15.7 %)
Gross Income	204.19	129.26	(36.7 %)
Operating Income	26.30	(38.24)	(245.4 %)
Net Income	(5.12)	(70.62)	(1,279.7 %)
Average Shares	35.36	35.36	0.0 %
EPS (Riyals)	(0.14)	(2.00)	(1,279.7 %)

The food products manufacturer attributed the losses to lower domestic sales, and higher average stock prices of raw materials. Moreover, its subsidiary in Egypt was affected due to the decline in currency exchange rate, which was offset by an increase in the subsidiary’s sales.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2022	Q3 2023	Change‬
Revenues	229.76	206.82	(10.0 %)
Gross Income	43.53	24.13	(44.6 %)
Operating Income	(10.62)	(31.73)	(198.8 %)
Net Income	(22.97)	(42.49)	(85.0 %)
Average Shares	35.36	35.36	0.0 %
EPS (Riyals)	(0.65)	(1.20)	(85.0 %)

Item	Q2 2023	Q3 2023	Change‬
Revenues	189.63	206.82	9.1 %
Gross Income	37.01	24.13	(34.8 %)
Operating Income	(18.56)	(31.73)	(70.9 %)
Net Income	(29.76)	(42.49)	(42.8 %)
Average Shares	35.36	35.36	-
EPS (Riyals)	(0.84)	(1.20)	(42.8 %)

Halwani also widened the third-quarter net loss to SAR 42.5 million from SAR 22.97 million in the year-earlier period, due to lower local sales and higher selling and distribution expenses.

The losses increased by 42.8% quarter-on-quarter (QoQ) from SAR 29.76 million in Q2 2023.

The YoY deeper loss in Q3 2023 was due to the drop witnessed in the company’s sales inside the Kingdom, amid an increase in average stock prices of raw materials, not to mention the higher YoY selling and distribution expenses during the current quarter, on wider range of promotional campaigns.

Moreover, the loss was escalated by financing costs, mainly due to higher interest rates.

The loss came despite an increase in the subsidiary’s sales in Egyptian pounds in Egypt, noting that the Egyptian currency exchange rate drop affected the company’s financial performance.

Meanwhile, the company attributed the QoQ loss to higher selling and distribution expenses, as a result of the increase in promotional campaigns.

Shareholders’ equity, no minority interest, declined to SAR 335.9 million as of Sept. 30, 2023, from SAR 455.7 million a year earlier.

View More Financial Results

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2014	266.05	6.4 %	79.52	(8.0 %)	32.97	(20.3 %)
Q2 2014	273.89	14.7 %	82.08	12.7 %	36.47	16.4 %
Q3 2014	260.94	14.5 %	74.77	24.1 %	32.52	25.6 %
Q4 2014	264.08	9.4 %	72.00	7.2 %	32.32	(2.0 %)
2014	1,064.95	11.2 %	308.36	7.6 %	134.27	2.0 %
Q1 2015	287.02	7.9 %	85.38	7.4 %	39.14	18.7 %
Q2 2015	267.75	(2.2 %)	81.70	(0.5 %)	34.32	(5.9 %)
Q3 2015	257.76	(1.2 %)	83.94	12.3 %	38.04	17.0 %
Q4 2015	262.74	(0.5 %)	83.24	15.6 %	37.25	15.2 %
2015	1,075.27	1.0 %	334.26	8.4 %	148.74	10.8 %
Q1 2016	277.84	(3.2 %)	91.20	6.8 %	40.19	2.7 %
Q2 2016	236.74	(11.6 %)	79.36	(2.9 %)	31.02	(9.6 %)
Q3 2016	257.85	0.0 %	85.54	1.9 %	36.07	(5.2 %)
Q4 2016	215.21	(18.1 %)	74.61	(10.4 %)	25.73	(30.9 %)
2016	987.64	(8.1 %)	330.71	(1.1 %)	133.01	(10.6 %)
Q1 2017	203.48	(26.8 %)	71.08	(22.1 %)	29.24	(27.2 %)
Q2 2017	192.28	(18.8 %)	58.05	(26.8 %)	18.10	(41.7 %)
Q3 2017	222.02	(13.9 %)	67.68	(20.9 %)	28.43	(21.2 %)
Q4 2017	216.81	0.7 %	74.71	0.1 %	29.06	12.9 %
2017	834.59	(15.5 %)	271.52	(17.9 %)	105.23	(20.9 %)
Q1 2018	215.72	6.0 %	61.41	(13.6 %)	24.99	(14.5 %)
Q2 2018	198.27	3.1 %	53.45	(7.9 %)	16.09	(11.1 %)
Q3 2018	223.20	0.5 %	72.07	6.5 %	29.72	4.5 %
Q4 2018	209.64	(3.3 %)	49.72	(33.4 %)	3.81	(86.9 %)
2018	846.83	1.5 %	236.65	(12.8 %)	74.61	(29.1 %)
Q1 2019	238.43	10.5 %	59.27	(3.5 %)	17.23	(31.0 %)
Q2 2019	200.24	1.0 %	51.05	(4.5 %)	6.62	(58.9 %)
Q3 2019	221.22	(0.9 %)	56.80	(21.2 %)	9.03	(69.6 %)
Q4 2019	239.98	14.5 %	63.89	28.5 %	18.42	383.6 %
2019	899.87	6.3 %	231.00	(2.4 %)	50.19	(32.7 %)
Q1 2020	285.14	19.6 %	96.78	63.3 %	42.68	147.7 %
Q2 2020	272.39	36.0 %	97.96	91.9 %	37.93	473.4 %
Q3 2020	256.21	15.8 %	86.46	52.2 %	39.53	338.0 %
Q4 2020	241.30	0.6 %	75.93	18.8 %	26.62	44.5 %
2020	1,055.05	17.2 %	357.13	54.6 %	146.77	192.4 %
Q1 2021	286.58	0.5 %	99.01	2.3 %	34.69	(18.7 %)
Q2 2021	268.62	(1.4 %)	88.25	(9.9 %)	34.50	(9.1 %)
Q3 2021	236.90	(7.5 %)	70.11	(18.9 %)	22.51	(43.1 %)
Q4 2021	299.20	24.0 %	86.85	14.4 %	26.02	(2.3 %)
2021	1,091.30	3.4 %	344.22	(3.6 %)	117.72	(19.8 %)
Q1 2022	301.54	5.2 %	95.73	(3.3 %)	30.72	(11.5 %)
Q2 2022	238.50	(11.2 %)	64.93	(26.4 %)	6.20	(82.0 %)
Q3 2022	229.76	(3.0 %)	43.53	(37.9 %)	(10.62)	(147.2 %)
Q4 2022	254.53	(14.9 %)	66.62	(23.3 %)	12.24	(53.0 %)
2022	1,024.32	(6.1 %)	270.76	(21.3 %)	38.48	(67.3 %)
Q1 2023	252.64	(16.2 %)	68.11	(28.9 %)	12.04	(60.8 %)
Q2 2023	189.63	(20.5 %)	37.01	(43.0 %)	(18.56)	(399.4 %)
Q3 2023	206.82	(10.0 %)	24.13	(44.6 %)	(31.73)	(198.8 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2013	958.10	7.4 %	286.70	3.2 %	131.58	9.1 %
2014	1,064.95	11.2 %	308.36	7.6 %	134.27	2.0 %
2015	1,075.27	1.0 %	334.26	8.4 %	148.74	10.8 %
2016	987.64	(8.1 %)	330.71	(1.1 %)	133.01	(10.6 %)
2017	834.59	(15.5 %)	271.52	(17.9 %)	105.23	(20.9 %)
2018	846.83	1.5 %	236.65	(12.8 %)	74.61	(29.1 %)
2019	899.87	6.3 %	231.00	(2.4 %)	50.19	(32.7 %)
2020	1,055.05	17.2 %	357.13	54.6 %	146.77	192.4 %
2021	1,091.30	3.4 %	344.22	(3.6 %)	117.72	(19.8 %)
2022	1,024.32	(6.1 %)	270.76	(21.3 %)	38.48	(67.3 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2014	23.63	(23.6 %)	0.67	-	23.63	0.67
Q2 2014	23.09	5.3 %	0.65	-	23.09	0.65
Q3 2014	20.46	19.3 %	0.58	-	20.46	0.58
Q4 2014	23.64	4.9 %	0.67	-	23.64	0.67
2014	90.82	(1.8 %)	2.57	-	90.82	2.57
Q1 2015	25.93	9.7 %	0.73	-	25.93	0.73
Q2 2015	23.06	(0.1 %)	0.65	-	23.06	0.65
Q3 2015	27.42	34.0 %	0.78	-	27.42	0.78
Q4 2015	38.70	63.7 %	1.09	2.20	36.50	1.03
2015	115.11	26.7 %	3.26	2.20	112.91	3.19
Q1 2016	13.66	(47.3 %)	0.39	2.30	11.36	0.32
Q2 2016	32.90	42.7 %	0.93	-	32.90	0.93
Q3 2016	22.36	(18.5 %)	0.63	-	22.36	0.63
Q4 2016	(17.01)	(144.0 %)	(0.48)	(57.90)	40.89	1.16
2016	51.91	(54.9 %)	1.47	(55.60)	107.51	3.04
Q1 2017	20.42	49.5 %	0.58	-	20.42	0.58
Q2 2017	12.14	(63.1 %)	0.34	-	12.14	0.34
Q3 2017	18.79	(16.0 %)	0.53	-	18.79	0.53
Q4 2017	20.00	217.6 %	0.57	2.72	17.28	0.49
2017	71.35	37.4 %	2.02	2.72	68.63	1.94
Q1 2018	16.48	(19.3 %)	0.47	-	16.48	0.47
Q2 2018	8.51	(29.9 %)	0.24	-	8.51	0.24
Q3 2018	19.25	2.4 %	0.54	-	19.25	0.54
Q4 2018	(0.92)	(104.6 %)	(0.03)	7.16	(8.08)	(0.23)
2018	43.32	(39.3 %)	1.23	7.16	36.16	1.02
Q1 2019	5.53	(66.5 %)	0.16	-	5.53	0.16
Q2 2019	(3.70)	(143.5 %)	(0.10)	-	(3.70)	(0.10)
Q3 2019	(3.41)	(117.7 %)	(0.10)	-	(3.41)	(0.10)
Q4 2019	3.95	530.3 %	0.11	(1.18)	5.13	0.14
2019	2.36	(94.6 %)	0.07	(1.18)	3.54	0.10
Q1 2020	30.42	450.4 %	0.86	-	30.42	0.86
Q2 2020	25.93	800.7 %	0.73	-	25.93	0.73
Q3 2020	25.04	833.5 %	0.71	(2.60)	27.64	0.78
Q4 2020	19.46	393.0 %	0.55	0.79	18.66	0.53
2020	100.84	4178.4 %	2.85	(1.81)	102.65	2.90
Q1 2021	25.40	(16.5 %)	0.72	-	25.40	0.72
Q2 2021	26.24	1.2 %	0.74	-	26.24	0.74
Q3 2021	14.04	(43.9 %)	0.40	-	14.04	0.40
Q4 2021	18.58	(4.5 %)	0.53	2.71	15.87	0.45
2021	84.25	(16.5 %)	2.38	2.71	81.55	2.31
Q1 2022	19.65	(22.6 %)	0.56	-	19.65	0.56
Q2 2022	(1.80)	(106.8 %)	(0.05)	-	(1.80)	(0.05)
Q3 2022	(22.97)	(263.6 %)	(0.65)	-	(22.97)	(0.65)
Q4 2022	8.04	(56.7 %)	0.23	8.51	(0.48)	(0.01)
2022	2.92	(96.5 %)	0.08	8.51	(5.59)	(0.16)
Q1 2023	1.64	(91.7 %)	0.05	-	1.64	0.05
Q2 2023	(29.76)	(1,556.9 %)	(0.84)	-	(29.76)	(0.84)
Q3 2023	(42.49)	(85.0 %)	(1.20)	3.05	(45.54)	(1.29)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2013	92.52	6.3 %	2.62	-	92.52	2.62
2014	90.82	(1.8 %)	2.57	-	90.82	2.57
2015	115.11	26.7 %	3.26	2.20	112.91	3.19
2016	51.91	(54.9 %)	1.47	(55.60)	107.51	3.04
2017	71.35	37.4 %	2.02	2.72	68.63	1.94
2018	43.32	(39.3 %)	1.23	7.16	36.16	1.02
2019	2.36	(94.6 %)	0.07	(1.18)	3.54	0.10
2020	100.84	4178.4 %	2.85	(1.81)	102.65	2.90
2021	84.25	(16.5 %)	2.38	2.71	81.55	2.31
2022	2.92	(96.5 %)	0.08	8.51	(5.59)	(0.16)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	28.72 %	15.22 %	8.75 %
Q2 2014	28.64 %	15.02 %	8.56 %
Q3 2014	29.12 %	15.36 %	8.61 %
Q4 2014	28.96 %	14.99 %	8.53 %
2014	28.96 %	14.99 %	8.53 %
Q1 2015	28.94 %	15.25 %	8.58 %
Q2 2015	29.07 %	15.08 %	8.62 %
Q3 2015	30.00 %	15.59 %	9.29 %
Q4 2015	31.09 %	16.11 %	10.50 %
2015	31.09 %	16.11 %	10.50 %
Q1 2016	31.90 %	16.38 %	9.22 %
Q2 2016	32.63 %	16.83 %	10.45 %
Q3 2016	32.78 %	17.17 %	9.96 %
Q4 2016	33.48 %	17.18 %	10.89 %
2016	33.48 %	17.18 %	10.89 %
Q1 2017	34.01 %	17.69 %	12.76 %
Q2 2017	33.30 %	17.05 %	11.03 %
Q3 2017	32.58 %	16.56 %	11.07 %
Q4 2017	32.53 %	16.91 %	8.22 %
2017	32.53 %	16.96 %	8.22 %
Q1 2018	30.92 %	16.20 %	7.64 %
Q2 2018	30.16 %	15.96 %	7.16 %
Q3 2018	30.64 %	16.17 %	7.20 %
Q4 2018	27.94 %	13.37 %	4.27 %
2018	27.94 %	13.37 %	4.27 %
Q1 2019	26.97 %	12.31 %	2.90 %
Q2 2019	26.63 %	11.40 %	1.49 %
Q3 2019	24.94 %	9.38 %	(1.11 %)
Q4 2019	25.67 %	10.83 %	0.39 %
2019	25.67 %	10.71 %	0.39 %
Q1 2020	28.37 %	13.09 %	3.00 %
Q2 2020	30.96 %	15.45 %	5.70 %
Q3 2020	32.75 %	17.73 %	8.46 %
Q4 2020	33.85 %	18.67 %	9.73 %
2020	33.85 %	18.67 %	9.73 %
Q1 2021	34.01 %	17.88 %	9.24 %
Q2 2021	33.21 %	17.45 %	9.30 %
Q3 2021	32.25 %	16.16 %	8.16 %
Q4 2021	31.54 %	15.08 %	7.47 %
2021	31.54 %	15.08 %	7.47 %
Q1 2022	30.82 %	14.47 %	6.85 %
Q2 2022	29.52 %	12.25 %	4.44 %
Q3 2022	27.23 %	9.22 %	1.01 %
Q4 2022	26.44 %	8.22 %	(0.55 %)
2022	26.43 %	8.21 %	(0.55 %)
Q1 2023	24.93 %	6.61 %	(2.42 %)
Q2 2023	23.23 %	4.12 %	(5.57 %)
Q3 2023	21.68 %	1.76 %	(8.20 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2013	29.92 %	16.38 %	9.66 %
2014	28.96 %	14.99 %	8.53 %
2015	31.09 %	16.11 %	10.50 %
2016	33.48 %	17.18 %	10.89 %
2017	32.53 %	16.96 %	8.22 %
2018	27.94 %	13.37 %	4.27 %
2019	25.67 %	10.71 %	0.39 %
2020	33.85 %	18.67 %	9.73 %
2021	31.54 %	15.08 %	7.47 %
2022	26.43 %	8.21 %	(0.55 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	29.89 %	14.81 %	8.88 %
Q2 2014	29.97 %	15.77 %	8.43 %
Q3 2014	28.65 %	14.93 %	7.84 %
Q4 2014	27.26 %	14.43 %	8.95 %
Q1 2015	29.75 %	15.80 %	9.04 %
Q2 2015	30.51 %	15.11 %	8.61 %
Q3 2015	32.56 %	17.05 %	10.64 %
Q4 2015	31.68 %	16.55 %	13.89 %
Q1 2016	32.83 %	16.80 %	4.09 %
Q2 2016	33.52 %	16.91 %	13.90 %
Q3 2016	33.17 %	18.43 %	8.67 %
Q4 2016	34.67 %	16.46 %	19.00 %
Q1 2017	34.93 %	18.95 %	10.04 %
Q2 2017	30.19 %	13.85 %	6.31 %
Q3 2017	30.48 %	16.80 %	8.46 %
Q4 2017	34.46 %	17.83 %	7.97 %
Q1 2018	28.47 %	16.02 %	7.64 %
Q2 2018	26.96 %	12.92 %	4.29 %
Q3 2018	32.29 %	17.59 %	8.62 %
Q4 2018	23.72 %	6.57 %	(3.85 %)
Q1 2019	24.86 %	11.91 %	2.32 %
Q2 2019	25.49 %	8.97 %	(1.85 %)
Q3 2019	25.67 %	9.70 %	(1.54 %)
Q4 2019	26.62 %	12.37 %	2.14 %
Q1 2020	33.94 %	19.21 %	10.67 %
Q2 2020	35.96 %	18.91 %	9.52 %
Q3 2020	33.74 %	19.84 %	10.79 %
Q4 2020	31.47 %	16.51 %	7.73 %
Q1 2021	34.55 %	16.30 %	8.86 %
Q2 2021	32.85 %	17.24 %	9.77 %
Q3 2021	29.59 %	14.40 %	5.93 %
Q4 2021	29.03 %	12.51 %	5.30 %
Q1 2022	31.75 %	13.98 %	6.52 %
Q2 2022	27.23 %	7.60 %	(0.75 %)
Q3 2022	18.94 %	0.35 %	(10.00 %)
Q4 2022	26.17 %	9.06 %	(0.19 %)
Q1 2023	26.96 %	8.89 %	0.65 %
Q2 2023	19.52 %	(4.32 %)	(15.69 %)
Q3 2023	11.67 %	(10.36 %)	(22.02 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2014	35.36	2.41	2.41	17.08
Q2 2014	35.36	2.44	2.44	16.02
Q3 2014	35.36	2.54	2.54	16.56
Q4 2014	35.36	2.57	2.57	17.27
Q1 2015	35.36	2.63	2.63	17.78
Q2 2015	35.36	2.63	2.63	16.76
Q3 2015	35.36	2.83	2.83	17.48
Q4 2015	35.36	3.26	3.19	18.58
Q1 2016	35.36	2.91	2.78	16.74
Q2 2016	35.36	3.19	3.06	17.38
Q3 2016	35.36	3.04	2.92	18.02
Q4 2016	35.36	1.47	3.04	14.97
Q1 2017	35.36	1.66	3.30	15.58
Q2 2017	35.36	1.07	2.71	13.91
Q3 2017	35.36	0.97	2.61	14.47
Q4 2017	35.36	2.02	1.94	14.99
Q1 2018	35.36	1.91	1.83	14.30
Q2 2018	35.36	1.80	1.73	12.50
Q3 2018	35.36	1.82	1.74	13.06
Q4 2018	35.36	1.23	1.02	12.82
Q1 2019	35.36	0.92	0.71	13.04
Q2 2019	35.36	0.57	0.37	13.03
Q3 2019	35.36	(0.07)	(0.27)	12.97
Q4 2019	35.36	0.07	0.10	13.06
Q1 2020	35.36	0.77	0.80	14.01
Q2 2020	35.36	1.61	1.64	13.76
Q3 2020	35.36	2.41	2.52	14.56
Q4 2020	35.36	2.85	2.90	15.09
Q1 2021	35.36	2.71	2.76	14.48
Q2 2021	35.36	2.72	2.77	15.22
Q3 2021	35.36	2.41	2.39	15.61
Q4 2021	35.36	2.38	2.31	16.12
Q1 2022	35.36	2.22	2.14	15.89
Q2 2022	35.36	1.43	1.35	13.70
Q3 2022	35.36	0.38	0.30	12.89
Q4 2022	35.36	0.08	(0.16)	12.27
Q1 2023	35.36	(0.43)	(0.67)	11.56
Q2 2023	35.36	(1.22)	(1.46)	10.70
Q3 2023	35.36	(1.77)	(2.10)	9.50

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2013	35.36	2.62	2.62	16.43
2014	35.36	2.57	2.57	17.27
2015	35.36	3.26	3.19	18.58
2016	35.36	1.47	3.04	14.97
2017	35.36	2.02	1.94	14.99
2018	35.36	1.23	1.02	12.82
2019	35.36	0.07	0.10	13.06
2020	35.36	2.85	2.90	15.09
2021	35.36	2.38	2.31	16.12
2022	35.36	0.08	(0.16)	12.27

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2014	29.04	29.04	4.10
Q2 2014	28.78	28.78	4.39
Q3 2014	29.88	29.88	4.58
Q4 2014	28.17	28.17	4.19
Q1 2015	26.84	26.84	3.98
Q2 2015	31.54	31.54	4.95
Q3 2015	26.03	26.03	4.21
Q4 2015	19.66	20.04	3.44
Q1 2016	19.31	20.20	3.36
Q2 2016	17.33	18.05	3.18
Q3 2016	14.13	14.75	2.39
Q4 2016	38.46	18.57	3.77
Q1 2017	28.34	14.26	3.02
Q2 2017	42.10	16.66	3.25
Q3 2017	46.40	17.27	3.11
Q4 2017	22.87	23.78	3.08
Q1 2018	27.46	28.61	3.66
Q2 2018	26.71	27.90	3.85
Q3 2018	23.77	24.82	3.31
Q4 2018	33.58	40.22	3.21
Q1 2019	43.30	55.60	3.04
Q2 2019	61.49	95.36	2.69
Q3 2019	NEG	NEG	2.58
Q4 2019	More than 100	More than 100	2.69
Q1 2020	38.35	36.76	2.11
Q2 2020	33.38	32.71	3.90
Q3 2020	28.34	27.14	4.70
Q4 2020	31.35	30.80	5.92
Q1 2021	41.77	41.00	7.82
Q2 2021	37.44	36.75	6.69
Q3 2021	40.95	41.34	6.32
Q4 2021	38.15	39.42	5.64
Q1 2022	39.18	40.58	5.48
Q2 2022	46.24	48.86	4.82
Q3 2022	More than 100	More than 100	4.93
Q4 2022	More than 100	NEG	3.61
Q1 2023	NEG	NEG	4.75
Q2 2023	NEG	NEG	5.81
Q3 2023	NEG	NEG	5.55

Period	P/E	Adjusted P/E	Price/book
2013	20.07	20.07	3.20
2014	28.18	28.18	4.19
2015	19.66	20.04	3.44
2016	38.46	18.57	3.77
2017	22.87	23.78	3.08
2018	33.58	40.22	3.21
2019	More than 100	More than 100	2.69
2020	31.35	30.80	5.92
2021	38.15	39.42	5.64
2022	More than 100	NEG	3.61

Business Segments (Million)

Compared With The

Period	Meat products	Sesame products	Other products
Q1 2017	65.09	72.59	65.79
Q2 2017	65.34	57.68	69.27
Q3 2017	106.85	62.91	52.25
Q4 2017	83.09	73.40	60.33
Q1 2018	82.59	71.05	62.08
Q2 2018	73.36	60.97	63.94
Q3 2018	99.07	57.89	66.24
Q4 2018	117.41	56.08	36.15
Q1 2019	104.16	73.29	60.99
Q2 2019	77.82	50.25	72.17
Q3 2019	138.36	59.19	23.66
Q4 2019	113.50	72.82	53.66
Q1 2020	130.83	96.41	57.91
Q2 2020	119.76	98.60	54.03
Q3 2020	135.73	71.04	49.44
Q4 2020	130.10	62.84	48.37
Q1 2021	138.96	85.94	61.68
Q2 2021	151.59	66.42	50.61
Q3 2021	126.52	59.46	50.92
Q4 2021	160.03	77.83	61.35
Q1 2022	143.34	84.68	73.52
Q2 2022	119.08	71.53	47.89
Q3 2022	128.70	51.81	49.25
Q4 2022	135.04	54.73	64.76
Q1 2023	97.87	92.98	64.36
Q3 2023	113.60	61.08	32.14

Period	Meat products	Sesame products	Other products
2017	320.37	266.58	247.64
2018	372.43	246.00	228.40
2019	433.84	255.56	210.47
2020	516.41	328.89	209.75
2021	577.09	289.65	224.55
2022	526.15	262.75	235.42

Analysts Estimates (Million)

Item	Q3 2023 (e)	Q3 2023 (a)	Change‬
Average	5.00	(42.49)	(949.9 %)

Estimates vs Actual (Million)

Item	Q3 2023 (e)	Q3 2023 (a)	Change
Hermes	5.00	(42.49)	(949.9) %

Financial Ratios

	Current
Market Cap (M Riyal)	1,870.54
Enterprise Value (EV) (M)	2,096.87
Shares Outstanding ((M))	35.36
EPS ( Riyal) (TTM)	(0.03)
Book Value (BV) ( Riyal)	7.74
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	NEG
Price/book	6.84
Return on Average Assets (%) (TTM)	(0.14 )
Return on Average Equity (%) (TTM)	(0.38 )

Halwani Bros. Co. (HB)

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Halwani widens 9M 2023 loss to SAR 70.6 mln; Q3 at SAR 42.5 mln

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2023 Q3

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

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Halwani widens 9M 2023 loss to SAR 70.6 mln; Q3 at SAR 42.5 mln

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q3 2023

Revenue by Business Segment (Latest) 2023 Q3

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Halwani Bros. Co. (HB)

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Business Segments (Million)