FADECO’s 2021 profit falls 36% to SAR 6 mln, Q4 loss at SAR 750,000
22/06/2022
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Arabian Food & Dairy Factories Co. (FADECO), which listed on Nomu-Parallel Market recently, posted a net profit of SAR 6 million for 2021, a fall of 36% compared to SAR 9.4 million a year earlier.
Financials (M)
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 53.45 | 52.24 | (2.3 %) |
| Gross Income | 25.01 | 22.04 | (11.9 %) |
| Operating Income | 9.85 | 6.04 | (38.7 %) |
| Net Income | 9.38 | 6.02 | (35.8 %) |
| Average Shares | 1.41 | 1.41 | - |
| Earnings Per Share before unusual items (Riyals) | 6.65 | 4.27 | (35.8 %) |
| EPS (Riyal) | 6.65 | 4.27 | (35.8 %) |
The profit decline was due to a 12% fall in gross income and a 43% drop in operating income, as well as an 8% rise in operating expenses.
This is despite higher other income, as well as lower finance charges and Zakat provision.
Meanwhile, the company incurred a loss of SAR 750,000 in Q4 2021, against a profit of SAR 1.36 million a year earlier.
Compared With The
Current Half Annual Comparison (M)
| Item | H2 2020 | H2 2021 | Change |
|---|---|---|---|
| Revenues | 29.02 | 27.44 | (5.4 %) |
| Gross Income | 13.84 | 10.42 | (24.7 %) |
| Operating Income | 5.85 | 2.42 | (58.7 %) |
| Net Income | 5.63 | 2.54 | (54.9 %) |
| Average Shares | 1.41 | 1.41 | - |
| Earnings Per Share before unusual items (Riyal) | 4.00 | 1.80 | (54.9 %) |
| EPS (Riyal) | 4.00 | 1.80 | (54.9 %) |
Total shareholders’ equity, excluding minority interest, amounted to SAR 28.10 million at the end of the period, compared to SAR 27.55 million a year earlier.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2021 | 24.80 | 1.5 % | 11.62 | 3.9 % | 3.62 | (9.5 %) |
| H2 2021 | 27.44 | (5.4 %) | 10.42 | (24.7 %) | 2.42 | (58.7 %) |
| 2021 | 52.24 | (2.3 %) | 22.04 | (11.9 %) | 6.04 | (38.7 %) |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS(Riyal) |
|---|---|---|---|---|---|---|
| H1 2021 | 3.48 | (7.1 %) | 2.47 | - | 3.48 | 2.47 |
| H2 2021 | 2.54 | (54.9 %) | 1.80 | - | 2.54 | 1.80 |
| 2021 | 6.02 | (35.8 %) | 4.27 | - | 6.02 | 4.27 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2020 | - | - | - |
| H2 2020 | 46.80 % | - | 17.55 % |
| 2020 | 46.80 % | 24.54 % | 17.55 % |
| H1 2021 | 47.29 % | - | 16.93 % |
| H2 2021 | 42.19 % | 18.58 % | 11.52 % |
| 2021 | 42.19 % | 18.58 % | 11.52 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2021 | 1.41 | 6.46 | 6.46 | 20.94 |
| H2 2021 | 1.41 | 4.27 | 4.27 | 19.93 |
Multiple Ratios (End of Period Price)
| Period | P/E | Recurring P/E | Price/book |
|---|---|---|---|
| H1 2021 | - | - | - |
| H2 2021 | - | - | - |
Business Segments (Million)
2021
| Period | Retail outlet customer | Corporate customers |
|---|
| Current | |
| Market Cap (M Riyal) | 84.32 |
| Enterprise Value (EV) (M Riyal) | 79.63 |
| Shares Outstanding ((M)) | 1.41 |
| Book Value (BV) ( Riyal) | 24.43 |
| Par Value ( Riyal) | 10.00 |
| Recurring P/E | 38.68 |
| Price/book | 2.45 |
| EV/adj EBITDA | 9.80 |
| EV/Revenues | 1.26 |
Share Price
Arabian Food and Dairy Factories Co. (FADECO)
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