Almunajem Foods Co. posted a net profit after Zakat and tax of SAR 120 million for the first nine months of 2021, a decline of 41% compared with SAR 202 million a year earlier.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 1,916.36 | 1,897.53 | (1.0 %) |
| Gross Income | 387.27 | 326.04 | (15.8 %) |
| Operating Income | 199.92 | 129.76 | (35.1 %) |
| Net Income | 201.89 | 120.11 | (40.5 %) |
| Average Shares | 60.00 | 60.00 | - |
| Earnings Per Share before unusual items (Riyals) | 3.19 | 2.00 | (37.3 %) |
| EPS (Riyal) | 3.36 | 2.00 | (40.5 %) |
The profit decline was attributed to lower sales, as well as a rise in the cost of sales, administrative and marketing expenses, and Zakat.
This is despite a decline in general expenses and cost of finance.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 626.38 | 654.99 | 4.6 % |
| Gross Income | 122.27 | 119.60 | (2.2 %) |
| Operating Income | 60.68 | 55.44 | (8.6 %) |
| Net Income | 66.80 | 52.66 | (21.2 %) |
| Average Shares | 60.00 | 60.00 | - |
| Earnings Per Share before unusual items (Riyal) | 0.94 | 0.88 | (6.9 %) |
| EPS (Riyal) | 1.11 | 0.88 | (21.2 %) |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 614.48 | 654.99 | 6.6 % |
| Gross Income | 109.00 | 119.60 | 9.7 % |
| Operating Income | 41.10 | 55.44 | 34.9 % |
| Net Income | 37.99 | 52.66 | 38.6 % |
| Average Shares | 60.00 | 60.00 | - |
| Earnings Per Share before unusual items (Riyal) | 0.63 | 0.88 | 38.6 % |
| EPS (Riyal) | 0.63 | 0.88 | 38.6 % |
Meanwhile, the firm reported a fall of 21.2% in Q3 2021 net profit to SAR 52.66 million, compared with SAR 66.80 million in Q3 2020.
The three-month profit decline is due to a rise in the cost of sales, administrative and marketing expenses, and Zakat.
On a sequential basis, Q3 2021 net profit rose 38.6% from SAR 37.99 million in Q2 2021.
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2012 | - | - | - | - | - | - |
| Q2 2012 | - | - | - | - | - | - |
| Q3 2012 | - | - | - | - | - | - |
| Q4 2012 | - | - | - | - | - | - |
| 2012 | - | - | - | - | - | - |
| Q1 2013 | - | - | - | - | - | - |
| Q2 2013 | - | - | - | - | - | - |
| Q3 2013 | - | - | - | - | - | - |
| Q4 2013 | - | - | - | - | - | - |
| 2013 | - | - | - | - | - | - |
| Q1 2014 | - | - | - | - | - | - |
| Q2 2014 | - | - | - | - | - | - |
| Q3 2014 | - | - | - | - | - | - |
| Q4 2014 | - | - | - | - | - | - |
| 2014 | - | - | - | - | - | - |
| Q1 2015 | - | - | - | - | - | - |
| Q2 2015 | - | - | - | - | - | - |
| Q3 2015 | - | - | - | - | - | - |
| Q4 2015 | - | - | - | - | - | - |
| 2015 | - | - | - | - | - | - |
| Q1 2016 | - | - | - | - | - | - |
| Q2 2016 | - | - | - | - | - | - |
| Q3 2016 | - | - | - | - | - | - |
| Q4 2016 | - | - | - | - | - | - |
| 2016 | - | - | - | - | - | - |
| Q1 2017 | - | - | - | - | - | - |
| Q2 2017 | - | - | - | - | - | - |
| Q3 2017 | - | - | - | - | - | - |
| Q4 2017 | - | - | - | - | - | - |
| 2017 | 2,482.24 | - | 383.93 | - | 161.99 | - |
| Q1 2018 | - | - | - | - | - | - |
| Q2 2018 | - | - | - | - | - | - |
| Q3 2018 | - | - | - | - | - | - |
| Q4 2018 | - | - | - | - | - | - |
| 2018 | 2,497.35 | 0.6 % | 411.87 | 7.3 % | 184.38 | 13.8 % |
| Q1 2019 | - | - | - | - | - | - |
| Q2 2019 | - | - | - | - | - | - |
| Q3 2019 | - | - | - | - | - | - |
| Q4 2019 | - | - | - | - | - | - |
| 2019 | 2,419.06 | (3.1 %) | 334.65 | (18.7 %) | 104.03 | (43.6 %) |
| Q1 2020 | 687.58 | - | 138.11 | - | 77.63 | - |
| Q2 2020 | 602.41 | - | 126.89 | - | 61.62 | - |
| Q3 2020 | 626.38 | - | 122.27 | - | 60.68 | - |
| Q4 2020 | 622.09 | - | 100.28 | - | 30.96 | - |
| 2020 | 2,538.45 | 4.9 % | 487.55 | 45.7 % | 230.88 | 121.9 % |
| Q1 2021 | 628.06 | (8.7 %) | 97.44 | (29.5 %) | 33.21 | (57.2 %) |
| Q2 2021 | 614.48 | 2.0 % | 109.00 | (14.1 %) | 41.10 | (33.3 %) |
| Q3 2021 | 654.99 | 4.6 % | 119.60 | (2.2 %) | 55.44 | (8.6 %) |
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| 2011 | - | - | - | - | - | - |
| 2012 | - | - | - | - | - | - |
| 2013 | - | - | - | - | - | - |
| 2014 | - | - | - | - | - | - |
| 2015 | - | - | - | - | - | - |
| 2016 | - | - | - | - | - | - |
| 2017 | 2,482.24 | - | 383.93 | - | 161.99 | - |
| 2018 | 2,497.35 | 0.6 % | 411.87 | 7.3 % | 184.38 | 13.8 % |
| 2019 | 2,419.06 | (3.1 %) | 334.65 | (18.7 %) | 104.03 | (43.6 %) |
| 2020 | 2,538.45 | 4.9 % | 487.55 | 45.7 % | 230.88 | 121.9 % |
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS(Riyal) |
|---|---|---|---|---|---|---|
| Q1 2012 | - | - | - | - | - | - |
| Q2 2012 | - | - | - | - | - | - |
| Q3 2012 | - | - | - | - | - | - |
| Q4 2012 | - | - | - | - | - | - |
| 2012 | - | - | - | - | - | - |
| Q1 2013 | - | - | - | - | - | - |
| Q2 2013 | - | - | - | - | - | - |
| Q3 2013 | - | - | - | - | - | - |
| Q4 2013 | - | - | - | - | - | - |
| 2013 | - | - | - | - | - | - |
| Q1 2014 | - | - | - | - | - | - |
| Q2 2014 | - | - | - | - | - | - |
| Q3 2014 | - | - | - | - | - | - |
| Q4 2014 | - | - | - | - | - | - |
| 2014 | - | - | - | - | - | - |
| Q1 2015 | - | - | - | - | - | - |
| Q2 2015 | - | - | - | - | - | - |
| Q3 2015 | - | - | - | - | - | - |
| Q4 2015 | - | - | - | - | - | - |
| 2015 | - | - | - | - | - | - |
| Q1 2016 | - | - | - | - | - | - |
| Q2 2016 | - | - | - | - | - | - |
| Q3 2016 | - | - | - | - | - | - |
| Q4 2016 | - | - | - | - | - | - |
| 2016 | - | - | - | - | - | - |
| Q1 2017 | - | - | - | - | - | - |
| Q2 2017 | - | - | - | - | - | - |
| Q3 2017 | - | - | - | - | - | - |
| Q4 2017 | - | - | - | - | - | - |
| 2017 | 163.25 | - | 2.72 | - | 163.25 | 2.72 |
| Q1 2018 | - | - | - | - | - | - |
| Q2 2018 | - | - | - | - | - | - |
| Q3 2018 | - | - | - | - | - | - |
| Q4 2018 | - | - | - | - | - | - |
| 2018 | 149.48 | (8.4 %) | 2.49 | (23.48) | 172.96 | 2.88 |
| Q1 2019 | - | - | - | - | - | - |
| Q2 2019 | - | - | - | - | - | - |
| Q3 2019 | - | - | - | - | - | - |
| Q4 2019 | - | - | - | - | - | - |
| 2019 | 109.17 | (27.0 %) | 1.82 | 12.41 | 96.76 | 1.61 |
| Q1 2020 | 75.67 | - | 1.26 | - | 75.67 | 1.26 |
| Q2 2020 | 59.42 | - | 0.99 | - | 59.42 | 0.99 |
| Q3 2020 | 66.80 | - | 1.11 | 10.25 | 56.55 | 0.94 |
| Q4 2020 | 27.79 | - | 0.46 | - | 27.79 | 0.46 |
| 2020 | 229.68 | 110.4 % | 3.83 | 10.25 | 219.43 | 3.66 |
| Q1 2021 | 29.47 | (61.1 %) | 0.49 | - | 29.47 | 0.49 |
| Q2 2021 | 37.99 | (36.1 %) | 0.63 | - | 37.99 | 0.63 |
| Q3 2021 | 52.66 | (21.2 %) | 0.88 | - | 52.66 | 0.88 |
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS(Riyal) |
|---|---|---|---|---|---|---|
| 2011 | - | - | - | - | - | - |
| 2012 | - | - | - | - | - | - |
| 2013 | - | - | - | - | - | - |
| 2014 | - | - | - | - | - | - |
| 2015 | - | - | - | - | - | - |
| 2016 | - | - | - | - | - | - |
| 2017 | 163.25 | - | 2.72 | - | 163.25 | 2.72 |
| 2018 | 149.48 | (8.4 %) | 2.49 | (23.48) | 172.96 | 2.88 |
| 2019 | 109.17 | (27.0 %) | 1.82 | 12.41 | 96.76 | 1.61 |
| 2020 | 229.68 | 110.4 % | 3.83 | 10.25 | 219.43 | 3.66 |
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2012 | - | - | - |
| Q2 2012 | - | - | - |
| Q3 2012 | - | - | - |
| Q4 2012 | - | - | - |
| 2012 | - | - | - |
| Q1 2013 | - | - | - |
| Q2 2013 | - | - | - |
| Q3 2013 | - | - | - |
| Q4 2013 | - | - | - |
| 2013 | - | - | - |
| Q1 2014 | - | - | - |
| Q2 2014 | - | - | - |
| Q3 2014 | - | - | - |
| Q4 2014 | - | - | - |
| 2014 | - | - | - |
| Q1 2015 | - | - | - |
| Q2 2015 | - | - | - |
| Q3 2015 | - | - | - |
| Q4 2015 | - | - | - |
| 2015 | - | - | - |
| Q1 2016 | - | - | - |
| Q2 2016 | - | - | - |
| Q3 2016 | - | - | - |
| Q4 2016 | - | - | - |
| 2016 | - | - | - |
| Q1 2017 | - | - | - |
| Q2 2017 | - | - | - |
| Q3 2017 | - | - | - |
| Q4 2017 | - | - | - |
| 2017 | 15.47 % | 7.62 % | 6.58 % |
| Q1 2018 | - | - | - |
| Q2 2018 | - | - | - |
| Q3 2018 | - | - | - |
| Q4 2018 | - | - | - |
| 2018 | 16.49 % | 8.49 % | 6.93 % |
| Q1 2019 | - | - | - |
| Q2 2019 | - | - | - |
| Q3 2019 | - | - | - |
| Q4 2019 | - | - | - |
| 2019 | 13.83 % | 5.71 % | 4.00 % |
| Q1 2020 | - | - | - |
| Q2 2020 | - | - | - |
| Q3 2020 | - | - | - |
| Q4 2020 | 19.21 % | 10.55 % | 8.64 % |
| 2020 | 19.21 % | 10.55 % | 8.64 % |
| Q1 2021 | 18.03 % | 9.02 % | 6.99 % |
| Q2 2021 | 17.22 % | 8.14 % | 6.09 % |
| Q3 2021 | 16.92 % | 7.82 % | 5.87 % |
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| 2011 | - | - | - |
| 2012 | - | - | - |
| 2013 | - | - | - |
| 2014 | - | - | - |
| 2015 | - | - | - |
| 2016 | - | - | - |
| 2017 | 15.47 % | 7.62 % | 6.58 % |
| 2018 | 16.49 % | 8.49 % | 6.93 % |
| 2019 | 13.83 % | 5.71 % | 4.00 % |
| 2020 | 19.21 % | 10.55 % | 8.64 % |
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2012 | - | - | - |
| Q2 2012 | - | - | - |
| Q3 2012 | - | - | - |
| Q4 2012 | - | - | - |
| Q1 2013 | - | - | - |
| Q2 2013 | - | - | - |
| Q3 2013 | - | - | - |
| Q4 2013 | - | - | - |
| Q1 2014 | - | - | - |
| Q2 2014 | - | - | - |
| Q3 2014 | - | - | - |
| Q4 2014 | - | - | - |
| Q1 2015 | - | - | - |
| Q2 2015 | - | - | - |
| Q3 2015 | - | - | - |
| Q4 2015 | - | - | - |
| Q1 2016 | - | - | - |
| Q2 2016 | - | - | - |
| Q3 2016 | - | - | - |
| Q4 2016 | - | - | - |
| Q1 2017 | - | - | - |
| Q2 2017 | - | - | - |
| Q3 2017 | - | - | - |
| Q4 2017 | - | - | - |
| Q1 2018 | - | - | - |
| Q2 2018 | - | - | - |
| Q3 2018 | - | - | - |
| Q4 2018 | - | - | - |
| Q1 2019 | - | - | - |
| Q2 2019 | - | - | - |
| Q3 2019 | - | - | - |
| Q4 2019 | - | - | - |
| Q1 2020 | 20.09 % | 12.60 % | 11.00 % |
| Q2 2020 | 21.06 % | 11.76 % | 9.86 % |
| Q3 2020 | 19.52 % | 11.21 % | 9.03 % |
| Q4 2020 | 16.12 % | 6.46 % | 4.47 % |
| Q1 2021 | 15.51 % | 6.73 % | 4.69 % |
| Q2 2021 | 17.74 % | 8.17 % | 6.18 % |
| Q3 2021 | 18.26 % | 9.81 % | 8.04 % |
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2012 | - | - | - | - |
| Q2 2012 | - | - | - | - |
| Q3 2012 | - | - | - | - |
| Q4 2012 | - | - | - | - |
| Q1 2013 | - | - | - | - |
| Q2 2013 | - | - | - | - |
| Q3 2013 | - | - | - | - |
| Q4 2013 | - | - | - | - |
| Q1 2014 | - | - | - | - |
| Q2 2014 | - | - | - | - |
| Q3 2014 | - | - | - | - |
| Q4 2014 | - | - | - | - |
| Q1 2015 | - | - | - | - |
| Q2 2015 | - | - | - | - |
| Q3 2015 | - | - | - | - |
| Q4 2015 | - | - | - | - |
| Q1 2016 | - | - | - | - |
| Q2 2016 | - | - | - | - |
| Q3 2016 | - | - | - | - |
| Q4 2016 | - | - | - | - |
| Q1 2017 | - | - | - | - |
| Q2 2017 | - | - | - | - |
| Q3 2017 | - | - | - | - |
| Q4 2017 | - | - | - | - |
| Q1 2018 | - | - | - | - |
| Q2 2018 | - | - | - | - |
| Q3 2018 | - | - | - | - |
| Q4 2018 | - | - | - | - |
| Q1 2019 | - | - | - | - |
| Q2 2019 | - | - | - | - |
| Q3 2019 | - | - | - | - |
| Q4 2019 | - | - | - | - |
| Q1 2020 | 60.00 | - | - | 8.99 |
| Q2 2020 | 60.00 | - | - | 8.76 |
| Q3 2020 | 60.00 | - | - | 8.41 |
| Q4 2020 | 60.00 | 3.83 | 3.66 | 10.67 |
| Q1 2021 | 60.00 | 3.06 | 2.89 | 11.17 |
| Q2 2021 | 60.00 | 2.70 | 2.53 | 11.80 |
| Q3 2021 | 60.00 | 2.47 | 2.47 | 12.68 |
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| 2011 | - | - | - | - |
| 2012 | - | - | - | - |
| 2013 | - | - | - | - |
| 2014 | - | - | - | - |
| 2015 | - | - | - | - |
| 2016 | - | - | - | - |
| 2017 | 60.00 | 2.72 | 2.72 | 8.88 |
| 2018 | 60.00 | 2.49 | 2.88 | 7.97 |
| 2019 | 60.00 | 1.82 | 1.61 | 7.73 |
| 2020 | 60.00 | 3.83 | 3.66 | 10.67 |
| Period | P/E | Recurring P/E | Price/book |
|---|---|---|---|
| Q1 2012 | - | - | - |
| Q2 2012 | - | - | - |
| Q3 2012 | - | - | - |
| Q4 2012 | - | - | - |
| Q1 2013 | - | - | - |
| Q2 2013 | - | - | - |
| Q3 2013 | - | - | - |
| Q4 2013 | - | - | - |
| Q1 2014 | - | - | - |
| Q2 2014 | - | - | - |
| Q3 2014 | - | - | - |
| Q4 2014 | - | - | - |
| Q1 2015 | - | - | - |
| Q2 2015 | - | - | - |
| Q3 2015 | - | - | - |
| Q4 2015 | - | - | - |
| Q1 2016 | - | - | - |
| Q2 2016 | - | - | - |
| Q3 2016 | - | - | - |
| Q4 2016 | - | - | - |
| Q1 2017 | - | - | - |
| Q2 2017 | - | - | - |
| Q3 2017 | - | - | - |
| Q4 2017 | - | - | - |
| Q1 2018 | - | - | - |
| Q2 2018 | - | - | - |
| Q3 2018 | - | - | - |
| Q4 2018 | - | - | - |
| Q1 2019 | - | - | - |
| Q2 2019 | - | - | - |
| Q3 2019 | - | - | - |
| Q4 2019 | - | - | - |
| Q1 2020 | - | - | - |
| Q2 2020 | - | - | - |
| Q3 2020 | - | - | - |
| Q4 2020 | - | - | - |
| Q1 2021 | - | - | - |
| Q2 2021 | - | - | - |
| Q3 2021 | - | - | - |
| Period | P/E | Recurring P/E | Price/book |
|---|---|---|---|
| 2011 | - | - | - |
| 2012 | - | - | - |
| 2013 | - | - | - |
| 2014 | - | - | - |
| 2015 | - | - | - |
| 2016 | - | - | - |
| 2017 | - | - | - |
| 2018 | - | - | - |
| 2019 | - | - | - |
| 2020 | - | - | - |
Q3 2021
2021
| Period | Wholesale goods-in-transit& food services | Retail goods-in-transit | Storage rent revenue |
|---|---|---|---|
| Q1 2020 | 401.89 | 284.09 | 1.60 |
| Q2 2020 | 304.78 | 295.59 | 2.04 |
| Q3 2020 | 384.57 | 239.88 | 1.93 |
| Q4 2020 | 392.00 | 228.55 | 1.54 |
| Q1 2021 | 348.08 | 278.34 | 1.63 |
| Q2 2021 | 378.14 | 234.31 | 2.04 |
| Q3 2021 | 421.05 | 231.70 | 2.24 |
| Period | Wholesale goods-in-transit& food services | Retail goods-in-transit | Storage rent revenue |
|---|---|---|---|
| 2019 | 1,543.80 | 867.45 | 7.81 |
| 2020 | 1,483.24 | 1,048.11 | 7.10 |
| Current | |
| Market Cap (M Riyal) | 3,114.00 |
| Enterprise Value (EV) (M Riyal) | 3,360.20 |
| Shares Outstanding ((M)) | 60.00 |
| EPS ( Riyal) (TTM) | 2.72 |
| Book Value (BV) ( Riyal) | 17.54 |
| Par Value ( Riyal) | 10.00 |
| Recurring P/E | 19.10 |
| P/E (TTM) | 19.10 |
| Price/book | 2.96 |
| Return on Average Assets (%) (TTM) | 8.4 |
| Return on Average Equity (%) (TTM) | 15.4 |
| EV/adj EBITDA | 15.56 |
| EV/Revenues | 1.01 |
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