Development Works Food's net profit rises 7% in 9M

02/12/2018 Argaam Exclusive

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Development Works Food Co.’s net profit after zakat and tax rose 7 percent year-on-year (YoY) to SAR 6.3 million in the first nine months of 2018 on higher sales.

Financials (M)

Item	9m 2017	9m 2018	Change‬
Revenues	53.98	82.55	52.9 %
Gross Income	10.54	12.74	20.9 %
Operating Income	6.21	6.69	7.8 %
Net Income	5.92	6.34	7.1 %
Average Shares	3.00	3.00	-
EPS (Riyals)	1.97	2.11	7.1 %

In Q3, net profit after zakat and tax grew by 2.9 percent YoY to SAR 2.3 million driven by higher revenue.

When compared to the previous quarter, Q3 net profit dropped 14 percent due to seasonal factors.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2017	Q3 2018	Change‬
Revenues	20.04	28.69	43.1 %
Gross Income	3.76	4.87	29.6 %
Operating Income	2.24	2.47	10.2 %
Net Income	2.25	2.31	2.9 %
Average Shares	3.00	3.00	-
EPS (Riyals)	0.75	0.77	2.9 %

Item	Q2 2018	Q3 2018	Change‬
Revenues	31.16	28.69	(7.9 %)
Gross Income	4.56	4.87	6.7 %
Operating Income	2.86	2.47	(13.5 %)
Net Income	2.69	2.31	(14.1 %)
Average Shares	3.00	3.00	-
EPS (Riyals)	0.90	0.77	(14.1 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2009	-	-	-	-	-	-	-
Q2 2009	-	-	-	-	-	-	-
Q3 2009	-	-	-	-	-	-	-
Q4 2009	-	-	-	-	-	-	-
2009	-	-	-	-	-	-	-
Q1 2010	-	-	-	-	-	-	-
Q2 2010	-	-	-	-	-	-	-
Q3 2010	-	-	-	-	-	-	-
Q4 2010	-	-	-	-	-	-	-
2010	-	-	-	-	-	-	-
Q1 2011	-	-	-	-	-	-	-
Q2 2011	-	-	-	-	-	-	-
Q3 2011	-	-	-	-	-	-	-
Q4 2011	-	-	-	-	-	-	-
2011	-	-	-	-	-	-	-
Q1 2012	-	-	-	-	-	-	-
Q2 2012	-	-	-	-	-	-	-
Q3 2012	-	-	-	-	-	-	-
Q4 2012	-	-	-	-	-	-	-
2012	2.94	-	(0.91)	-	(4.10)	-	(1.37)
Q1 2013	-	-	-	-	-	-	-
Q2 2013	-	-	-	-	-	-	-
Q3 2013	-	-	-	-	-	-	-
Q4 2013	-	-	-	-	-	-	-
2013	12.65	330.6 %	4.90	641.3 %	(3.44)	15.9 %	(1.15)
Q1 2014	-	-	-	-	-	-	-
Q2 2014	-	-	-	-	-	-	-
Q3 2014	-	-	-	-	-	-	-
Q4 2014	-	-	-	-	-	-	-
2014	29.67	134.6 %	11.61	137.0 %	1.01	129.4 %	0.34
Q1 2015	-	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-	-
2015	34.66	16.8 %	14.83	27.7 %	5.79	471.2 %	1.93
Q1 2016	8.00	-	3.55	-	0.84	-	0.28
Q2 2016	10.18	-	5.22	-	1.60	-	0.53
Q3 2016	11.55	-	6.00	-	1.76	-	0.59
Q4 2016	5.19	-	(6.82)	-	(6.86)	-	(2.29)
2016	34.93	0.8 %	7.96	(46.3 %)	5.30	(8.3 %)	1.77
Q1 2017	13.47	68.3 %	6.37	79.3 %	1.04	23.7 %	0.35
Q2 2017	20.46	101.1 %	4.54	(13.0 %)	2.63	64.4 %	0.88
Q3 2017	20.04	73.5 %	3.76	(37.4 %)	2.25	27.6 %	0.75
Q4 2017	28.43	447.7 %	4.20	161.6 %	1.97	128.7 %	0.66
2017	82.41	135.9 %	14.74	85.2 %	7.89	48.7 %	2.63
Q1 2018	22.70	68.5 %	3.27	(48.7 %)	1.34	28.4 %	0.45
Q2 2018	31.16	52.3 %	4.56	0.4 %	2.69	2.4 %	0.90
Q3 2018	28.69	43.1 %	4.87	29.6 %	2.31	2.9 %	0.77

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2008	-	-	-	-	-	-	-
2009	-	-	-	-	-	-	-
2010	-	-	-	-	-	-	-
2011	-	-	-	-	-	-	-
2012	2.94	-	(0.91)	-	(4.10)	-	(1.37)
2013	12.65	330.6 %	4.90	641.3 %	(3.44)	15.9 %	(1.15)
2014	29.67	134.6 %	11.61	137.0 %	1.01	129.4 %	0.34
2015	34.66	16.8 %	14.83	27.7 %	5.79	471.2 %	1.93
2016	34.93	0.8 %	7.96	(46.3 %)	5.30	(8.3 %)	1.77
2017	82.41	135.9 %	14.74	85.2 %	7.89	48.7 %	2.63

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
2009	-	-	-
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
2011	-	-	-
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	-	-	-
2012	(30.81 %)	(116.34 %)	(139.46 %)
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
2013	38.74 %	(18.00 %)	(27.23 %)
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
2014	39.14 %	6.94 %	3.41 %
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	42.77 %	20.66 %	16.69 %
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	22.79 %	(2.71 %)	(7.62 %)
2016	22.79 %	20.09 %	15.18 %
Q1 2017	26.68 %	(1.46 %)	(6.09 %)
Q2 2017	19.92 %	1.37 %	(2.82 %)
Q3 2017	13.26 %	2.51 %	(1.60 %)
Q4 2017	22.90 %	13.73 %	9.57 %
2017	17.89 %	13.84 %	9.57 %
Q1 2018	17.21 %	13.38 %	8.93 %
Q2 2018	15.43 %	12.63 %	8.06 %
Q3 2018	15.23 %	12.41 %	7.49 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2008	-	-	-
2009	-	-	-
2010	-	-	-
2011	-	-	-
2012	(30.81 %)	(116.34 %)	(139.46 %)
2013	38.74 %	(18.00 %)	(27.23 %)
2014	39.14 %	6.94 %	3.41 %
2015	42.77 %	20.66 %	16.69 %
2016	22.79 %	20.09 %	15.18 %
2017	17.89 %	13.84 %	9.57 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
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	44.39 %	16.45 %	10.53 %
Q2 2016	51.32 %	22.31 %	15.70 %
Q3 2016	51.95 %	19.78 %	15.22 %
Q4 2016	(131.41 %)	(131.41 %)	(132.18 %)
Q1 2017	47.29 %	12.45 %	7.74 %
Q2 2017	22.20 %	17.35 %	12.84 %
Q3 2017	18.73 %	15.34 %	11.20 %
Q4 2017	14.79 %	10.60 %	6.94 %
Q1 2018	14.40 %	11.56 %	5.90 %
Q2 2018	14.64 %	13.54 %	8.63 %
Q3 2018	16.97 %	13.65 %	8.05 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2009	-	-	-	-
Q2 2009	-	-	-	-
Q3 2009	-	-	-	-
Q4 2009	-	-	-	-
Q1 2010	-	-	-	-
Q2 2010	-	-	-	-
Q3 2010	-	-	-	-
Q4 2010	-	-	-	-
Q1 2011	-	-	-	-
Q2 2011	-	-	-	-
Q3 2011	-	-	-	-
Q4 2011	-	-	-	-
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	3.00	-	-	4.68
Q2 2016	3.00	-	-	5.11
Q3 2016	3.00	-	-	4.48
Q4 2016	3.00	(0.89)	(0.89)	4.84
Q1 2017	3.00	(0.82)	(0.82)	5.02
Q2 2017	3.00	(0.48)	(0.48)	5.90
Q3 2017	3.00	(0.32)	(0.32)	6.65
Q4 2017	3.00	2.63	2.63	7.16
Q1 2018	3.00	2.73	2.73	7.61
Q2 2018	3.00	2.75	2.75	8.51
Q3 2018	3.00	2.77	2.77	9.28

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2008	-	-	-	-
2009	-	-	-	-
2010	-	-	-	-
2011	-	-	-	-
2012	3.00	(1.37)	(1.37)	0.03
2013	3.00	(1.15)	(1.15)	0.03
2014	3.00	0.34	0.34	2.56
2015	3.00	1.93	1.93	2.30
2016	3.00	1.77	1.77	4.84
2017	3.00	2.63	2.63	7.16

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	-	-	-
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	NEG	NEG	7.75
Q2 2017	NEG	NEG	5.47
Q3 2017	NEG	NEG	4.29
Q4 2017	11.05	11.05	4.06
Q1 2018	9.69	9.69	3.47
Q2 2018	10.92	10.92	3.53
Q3 2018	9.69	9.69	2.89

Period	P/E	Adjusted P/E	Price/book
2008	-	-	-
2009	-	-	-
2010	-	-	-
2011	-	-	-
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	11.05	11.05	4.06

Financial Ratios

	Current
Market Cap (M Riyal)	369.00
Enterprise Value (EV) (M)	378.40
Shares Outstanding ((M))	3.00
Book Value (BV) ( Riyal)	8.32
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
Price/book	14.79

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Development Works Food's net profit rises 7% in 9M

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Financial Ratios

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Development Works Food's net profit rises 7% in 9M

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Financial Ratios

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