SADAFCO net profit falls 46% to SAR 38.2 mln in Q1 2021/22

29/07/2021 Argaam Exclusive

View other reports

Share Price

Saudia Dairy and Foodstuff Co. (SADAFCO)

Saudia Dairy & Foodstuff Co. (SADAFCO) reported a net profit after Zakat and tax of SAR 38.2 million for the three-month period ended June 30, 2021, a decline of 46% from a net profit of SAR 70.4 million in the year-earlier period.

The profit and revenue decline were attributed to surplus fresh milk converted to long life milk, supported by irrational discounting affecting SAR/liter revenue negatively. Other reasons included prolonged school closure, decline in consumer spending, lower consumer base, higher raw material prices, and increase in freight costs. 

 

SADAFCO said it logged higher revenue in the same quarter last year due to higher sales driven by COVID-19 lockdown measures.

 

Selling and distribution expenses rose SAR 3.6 million year-on-year (YoY), while general and administrative expenses decreased by SAR 8.7 million YoY on one-off donation expenses last year.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 565.99 492.40 (13.0 %)
Gross Income 183.30 150.47 (17.9 %)
Operating Income 75.76 43.78 (42.2 %)
Net Income 70.40 38.15 (45.8 %)
Average Shares 32.50 32.50 -
EPS (Riyals) 2.17 1.17 (45.8 %)

On a sequential basis, the Q1 2021/22 net profit slumped 32%.



Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2012 410.58 24.5 % 126.84 19.9 % 31.77 16.4 % 0.98
Q2 2012 386.82 9.6 % 121.53 12.5 % 46.06 15.4 % 1.42
Q3 2012 383.20 11.9 % 115.76 12.8 % 35.54 (16.6 %) 1.09
Q4 2012 368.43 18.7 % 110.90 12.1 % 50.89 21.0 % 1.57
Q1 2013 427.85 4.2 % 128.47 1.3 % 32.89 3.5 % 1.01
Q2 2013 379.65 (1.9 %) 125.10 2.9 % 46.45 0.8 % 1.43
Q3 2013 358.83 (6.4 %) 117.99 1.9 % 38.69 8.9 % 1.19
Q4 2013 386.49 4.9 % 121.59 9.6 % 51.79 1.8 % 1.59
Q1 2014 463.61 8.4 % 137.24 6.8 % 34.03 3.5 % 1.05
Q2 2014 431.30 13.6 % 129.56 3.6 % 47.63 2.6 % 1.47
Q3 2014 447.79 24.8 % 126.94 7.6 % 30.10 (22.2 %) 0.93
Q4 2014 464.18 20.1 % 158.54 30.4 % 29.19 (43.6 %) 0.90
Q1 2015 520.68 12.3 % 179.73 31.0 % 58.29 71.3 % 1.79
Q2 2015 481.93 11.7 % 166.21 28.3 % 53.91 13.2 % 1.66
Q3 2015 496.12 10.8 % 171.89 35.4 % 68.13 126.4 % 2.10
Q4 2015 484.04 4.3 % 190.80 20.3 % 79.88 173.7 % 2.46
Q1 2016 475.74 (8.6 %) 192.24 7.0 % 81.15 39.2 % 2.50
Q2 2016 445.03 (7.7 %) 171.79 3.4 % 80.85 50.0 % 2.49
Q3 2016 436.09 (12.1 %) 158.98 (7.5 %) 67.84 (0.4 %) 2.09
Q4 2016 430.00 (11.2 %) 167.25 (12.3 %) 73.84 (7.6 %) 2.27
Q1 2017 452.83 (4.8 %) 175.18 (8.9 %) 77.07 (5.0 %) 2.37
Q2 2017 441.31 (0.8 %) 171.32 (0.3 %) 75.16 (7.0 %) 2.31
Q3 2017 419.93 (3.7 %) 149.44 (6.0 %) 58.52 (13.7 %) 1.80
Q4 2017 378.61 (11.9 %) 137.73 (17.7 %) 50.13 (32.1 %) 1.54
Q1 2018 410.17 (9.4 %) 133.52 (23.8 %) 50.20 (34.9 %) 1.54
Q2 2018 476.62 8.0 % 145.83 (14.9 %) 54.09 (28.0 %) 1.66
Q3 2018 462.67 10.2 % 139.80 (6.5 %) 54.15 (7.5 %) 1.67
Q4 2018 463.50 22.4 % 161.15 17.0 % 59.95 19.6 % 1.84
Q1 2019 485.23 18.3 % 156.47 17.2 % 58.28 16.1 % 1.79
Q2 2019 521.08 9.3 % 176.78 21.2 % 65.16 20.5 % 2.00
Q3 2019 488.47 5.6 % 176.12 26.0 % 68.32 26.2 % 2.10
Q4 2019 561.31 21.1 % 179.81 11.6 % 74.50 24.3 % 2.29
Q1 2020 565.99 16.6 % 183.30 17.1 % 70.40 20.8 % 2.17
Q2 2020 535.40 2.7 % 176.92 0.1 % 70.31 7.9 % 2.16
Q3 2020 482.02 (1.3 %) 160.80 (8.7 %) 63.77 (6.7 %) 1.96
Q4 2020 521.98 (7.0 %) 172.81 (3.9 %) 56.08 (24.7 %) 1.73
Q1 2021 492.40 (13.0 %) 150.47 (17.9 %) 38.15 (45.8 %) 1.17

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2012 30.81 % 14.31 % 11.04 %
Q2 2012 31.02 % 14.48 % 11.20 %
Q3 2012 31.05 % 13.93 % 10.42 %
Q4 2012 30.67 % 14.30 % 10.60 %
Q1 2013 30.43 % 14.29 % 10.56 %
Q2 2013 30.80 % 14.72 % 10.63 %
Q3 2013 31.44 % 15.25 % 11.01 %
Q4 2013 31.76 % 15.51 % 10.94 %
Q1 2014 31.60 % 15.58 % 10.76 %
Q2 2014 30.87 % 15.26 % 10.50 %
Q3 2014 29.80 % 14.13 % 9.46 %
Q4 2014 30.57 % 12.56 % 7.80 %
Q1 2015 31.91 % 13.56 % 8.86 %
Q2 2015 32.98 % 13.61 % 8.96 %
Q3 2015 34.46 % 15.75 % 10.67 %
Q4 2015 35.74 % 18.05 % 13.12 %
Q1 2016 37.21 % 19.66 % 14.61 %
Q2 2016 38.23 % 21.33 % 16.31 %
Q3 2016 38.78 % 21.64 % 16.82 %
Q4 2016 38.63 % 21.05 % 17.00 %
Q1 2017 38.16 % 20.91 % 16.98 %
Q2 2017 38.22 % 20.43 % 16.70 %
Q3 2017 38.03 % 19.99 % 16.32 %
Q4 2017 37.44 % 20.13 % 15.41 %
Q1 2018 35.88 % 18.82 % 14.18 %
Q2 2018 33.61 % 17.17 % 12.63 %
Q3 2018 32.23 % 16.41 % 12.07 %
Q4 2018 32.01 % 16.13 % 12.05 %
Q1 2019 31.95 % 16.44 % 12.00 %
Q2 2019 32.82 % 17.12 % 12.29 %
Q3 2019 34.24 % 18.23 % 12.85 %
Q4 2019 33.52 % 18.85 % 12.95 %
Q1 2020 33.51 % 18.92 % 13.03 %
Q2 2020 33.29 % 19.10 % 13.18 %
Q3 2020 32.68 % 18.72 % 13.01 %
Q4 2020 32.95 % 18.02 % 12.38 %
Q1 2021 32.53 % 17.10 % 11.24 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2012 32.50 4.81 4.81 22.02
Q2 2012 32.50 5.00 5.00 23.45
Q3 2012 32.50 4.78 4.78 24.53
Q4 2012 32.50 5.05 5.05 26.12
Q1 2013 32.50 5.09 5.09 24.11
Q2 2013 32.50 5.10 5.10 25.52
Q3 2013 32.50 5.20 5.20 26.67
Q4 2013 32.50 5.23 5.23 28.35
Q1 2014 32.50 5.26 5.26 25.91
Q2 2014 32.50 5.30 5.30 27.37
Q3 2014 32.50 5.03 5.03 28.26
Q4 2014 32.50 4.34 4.34 29.17
Q1 2015 32.50 5.08 5.08 27.46
Q2 2015 32.50 5.28 5.28 29.12
Q3 2015 32.50 6.45 6.45 31.15
Q4 2015 32.50 8.01 8.01 33.61
Q1 2016 32.50 8.71 8.71 31.88
Q2 2016 32.50 9.54 9.54 34.42
Q3 2016 32.50 9.53 9.53 36.56
Q4 2016 32.50 9.34 9.34 38.80
Q1 2017 32.50 9.22 9.22 37.17
Q2 2017 32.50 9.04 9.04 39.49
Q3 2017 32.50 8.76 8.76 39.29
Q4 2017 32.50 8.03 8.03 40.65
Q1 2018 32.50 7.20 7.20 42.22
Q2 2018 32.50 6.55 6.55 41.16
Q3 2018 32.50 6.42 6.42 40.82
Q4 2018 32.50 6.72 6.72 41.18
Q1 2019 32.50 6.97 6.97 41.01
Q2 2019 32.50 7.31 7.31 43.01
Q3 2019 32.50 7.75 7.75 42.64
Q4 2019 32.50 8.19 8.19 44.83
Q1 2020 32.50 8.57 8.57 44.53
Q2 2020 32.50 8.72 8.72 46.69
Q3 2020 32.50 8.58 8.58 48.65
Q4 2020 32.50 8.02 8.02 47.18
Q1 2021 32.50 7.02 7.02 48.56

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2012 12.16 12.16 2.66
Q2 2012 11.30 11.30 2.41
Q3 2012 12.23 12.23 2.39
Q4 2012 12.81 12.81 2.48
Q1 2013 12.82 12.82 2.71
Q2 2013 17.01 17.01 3.40
Q3 2013 17.84 17.84 3.48
Q4 2013 16.51 16.51 3.04
Q1 2014 18.15 18.15 3.69
Q2 2014 19.06 19.06 3.69
Q3 2014 24.65 24.65 4.39
Q4 2014 27.42 27.42 4.08
Q1 2015 23.74 23.74 4.39
Q2 2015 27.09 27.09 4.91
Q3 2015 21.02 21.02 4.35
Q4 2015 13.99 13.99 3.33
Q1 2016 14.23 14.23 3.89
Q2 2016 15.61 15.61 4.33
Q3 2016 12.91 12.91 3.37
Q4 2016 13.33 13.33 3.21
Q1 2017 14.35 14.35 3.56
Q2 2017 13.73 13.73 3.14
Q3 2017 13.64 13.64 3.04
Q4 2017 16.31 16.31 3.22
Q1 2018 16.37 16.37 2.79
Q2 2018 14.38 14.38 2.29
Q3 2018 14.02 14.02 2.20
Q4 2018 14.94 14.94 2.44
Q1 2019 14.84 14.84 2.52
Q2 2019 15.73 15.73 2.67
Q3 2019 17.30 17.30 3.14
Q4 2019 17.45 17.45 3.19
Q1 2020 15.99 15.99 3.08
Q2 2020 18.91 18.91 3.53
Q3 2020 21.25 21.25 3.75
Q4 2020 21.49 21.49 3.71
Q1 2021 23.57 23.57 3.41

Business Segments (Million)

Compared With The
Period Drinks Non-drinks
Q1 2016 311.95 163.79
Q2 2016 306.89 138.14
Q3 2016 297.45 138.64
Q4 2016 298.79 131.17
Q1 2017 285.15 167.68
Q2 2017 304.61 136.70
Q3 2017 268.91 151.02
Q4 2017 270.84 107.78
Q1 2018 247.91 162.26
Q2 2018 278.67 197.96
Q3 2018 280.46 182.20
Q4 2018 287.69 175.81
Q1 2019 278.48 206.75
Q2 2019 310.46 210.62
Q3 2019 325.65 162.81
Q4 2019 333.52 227.80
Q1 2020 352.05 213.95
Q2 2020 317.08 218.32
Q3 2020 297.61 184.41
Q4 2020 310.43 211.56
Q1 2021 271.59 220.81

Current
Market Cap (M Riyal) 11,979.50
Enterprise Value (EV) (M) 10,956.41
Shares Outstanding ((M)) 32.50
EPS ( Riyal) (TTM) -
Book Value (BV) ( Riyal) 56.43
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) -
P/E (TTM) -
Price/book 6.53
Return on Average Assets (%) (TTM) -
Return on Average Equity (%) (TTM) -

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.