Development Works Food widens loss to SAR 2.7 mln in Q1 2023

22/05/2023 Argaam Exclusive

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Share Price

Development Works Food Co. (DWF)

Development Works Food Co. widened its net loss in Q1 2023 to SAR 2.7 million, from SAR 2.3 million in the same period a year earlier.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2022	Q1 2023	Change‬
Revenues	20.22	19.70	(2.6 %)
Gross Income	(0.76)	(0.72)	5.3 %
Operating Income	(3.60)	(3.42)	5.1 %
Net Income	(2.29)	(2.73)	(19.2 %)
Average Shares	3.00	3.00	-
EPS (Riyals)	(0.76)	(0.91)	(19.2 %)

Item	Q4 2022	Q1 2023	Change‬
Revenues	19.88	19.70	(0.9 %)
Gross Income	(3.40)	(0.72)	78.7 %
Operating Income	(5.93)	(3.42)	42.4 %
Net Income	(4.41)	(2.73)	38.1 %
Average Shares	3.00	3.00	-
EPS (Riyals)	(1.47)	(0.91)	38.1 %

The higher loss was due to lower sales as the company’s activities are seasonal, with demand increasing in summer and decreasing in winter. This was also due to a decline in other revenue and higher financing costs.

On the other hand, the company narrowed its Q1 2023 loss from SAR 4.41 million in the previous quarter, on lower cost of revenues.

Total shareholders’ equity, after minority interest, stood at SAR 26.54 million as of March 31, 2023, compared to SAR 30.27 million a year earlier.

Accumulated losses amounted to SAR 3.75 million at the end of the period, or 13% of the company's capital.

View More Financial Results

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
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
Q4 2018	26.11	(8.1 %)	2.20	(47.7 %)	1.40	(28.8 %)	0.47
2018	108.66	31.9 %	14.94	1.3 %	7.74	(1.9 %)	2.58
Q1 2019	30.76	35.5 %	4.73	44.7 %	1.46	8.8 %	0.49
Q2 2019	39.94	28.2 %	6.70	46.8 %	2.24	(16.6 %)	0.75
Q3 2019	37.07	29.2 %	5.39	10.7 %	2.47	6.7 %	0.82
Q4 2019	-	-	-	-	2.47	75.6 %	0.82
2019	96.27	(11.4 %)	19.45	30.2 %	8.63	11.5 %	2.88
Q1 2020	26.26	(14.6 %)	(2.11)	(144.7 %)	(3.92)	(369.3 %)	(1.31)
Q2 2020	22.42	(43.9 %)	(0.49)	(107.2 %)	(2.09)	(193.2 %)	(0.70)
Q3 2020	29.68	(19.9 %)	3.60	(33.2 %)	0.66	(73.2 %)	0.22
Q4 2020	16.15	-	1.62	-	(3.05)	(223.6 %)	(1.02)
2020	94.50	(1.8 %)	2.62	(86.5 %)	(8.40)	(197.3 %)	(2.80)
Q1 2021	19.81	(24.6 %)	2.30	208.8 %	0.12	103.0 %	0.04
Q2 2021	24.61	9.7 %	6.03	1344.1 %	2.55	221.8 %	0.85
Q3 2021	33.16	11.8 %	3.77	4.8 %	0.77	16.5 %	0.26
Q4 2021	23.28	44.2 %	(2.62)	(261.9 %)	(1.09)	64.3 %	(0.36)
2021	100.86	6.7 %	9.49	261.9 %	2.35	128.0 %	0.78
Q1 2022	20.22	2.1 %	(0.76)	(133.2 %)	(2.29)	(2042.4 %)	(0.76)
Q2 2022	33.81	37.4 %	5.99	(0.8 %)	3.04	19.4 %	1.01
Q3 2022	24.74	(25.4 %)	2.56	(32.1 %)	0.44	(42.5 %)	0.15
Q4 2022	19.88	(14.6 %)	(3.40)	(29.7 %)	(4.41)	(306.4 %)	(1.47)
2022	98.65	(2.2 %)	4.39	(53.7 %)	(3.22)	(237.2 %)	(1.07)
Q1 2023	19.70	(2.6 %)	(0.72)	5.3 %	(2.73)	(19.2 %)	(0.91)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
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
2018	108.66	31.9 %	14.94	1.3 %	7.74	(1.9 %)	2.58
2019	96.27	(11.4 %)	19.45	30.2 %	8.63	11.5 %	2.88
2020	94.50	(1.8 %)	2.62	(86.5 %)	(8.40)	(197.3 %)	(2.80)
2021	100.86	6.7 %	9.49	261.9 %	2.35	128.0 %	0.78
2022	98.65	(2.2 %)	4.39	(53.7 %)	(3.22)	(237.2 %)	(1.07)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %
Q4 2018	13.71 %	10.99 %	7.12 %
2018	13.75 %	10.99 %	7.12 %
Q1 2019	14.01 %	10.44 %	6.73 %
Q2 2019	14.74 %	9.82 %	5.91 %
Q3 2019	14.20 %	9.66 %	5.65 %
Q4 2019	-	-	-
2019	20.20 %	32.49 %	8.96 %
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	2.77 %	19.73 %	(3.41 %)
2020	2.77 %	19.73 %	(3.41 %)
Q1 2021	7.99 %	24.51 %	0.93 %
Q2 2021	15.02 %	35.22 %	6.05 %
Q3 2021	14.64 %	27.47 %	5.94 %
Q4 2021	9.40 %	21.89 %	2.33 %
2021	9.40 %	21.89 %	2.33 %
Q1 2022	6.34 %	22.19 %	(0.06 %)
Q2 2022	5.77 %	18.27 %	0.39 %
Q3 2022	5.06 %	19.65 %	0.10 %
Q4 2022	4.45 %	16.91 %	(3.27 %)
2022	4.45 %	16.91 %	(3.27 %)
Q1 2023	4.51 %	17.26 %	(3.73 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %
2018	13.75 %	10.99 %	7.12 %
2019	20.20 %	32.49 %	8.96 %
2020	2.77 %	19.73 %	(3.41 %)
2021	9.40 %	21.89 %	2.33 %
2022	4.45 %	16.91 %	(3.27 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %
Q4 2018	8.41 %	4.54 %	5.38 %
Q1 2019	15.38 %	9.31 %	4.74 %
Q2 2019	16.77 %	10.91 %	5.62 %
Q3 2019	14.54 %	12.20 %	6.65 %
Q4 2019	-	-	-
Q1 2020	(8.04 %)	(4.67 %)	(14.94 %)
Q2 2020	(2.16 %)	4.43 %	(9.33 %)
Q3 2020	12.13 %	40.09 %	2.23 %
Q4 2020	10.02 %	43.26 %	13.20 %
Q1 2021	11.60 %	8.60 %	0.60 %
Q2 2021	24.52 %	45.50 %	10.35 %
Q3 2021	11.37 %	17.69 %	2.32 %
Q4 2021	(11.25 %)	14.21 %	(4.66 %)
Q1 2022	(3.78 %)	10.41 %	(11.33 %)
Q2 2022	17.71 %	26.35 %	8.99 %
Q3 2022	10.36 %	23.16 %	1.79 %
Q4 2022	(17.09 %)	(0.33 %)	(22.21 %)
Q1 2023	(3.67 %)	11.97 %	(13.86 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
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
Q4 2018	3.00	2.58	2.58	10.10
Q1 2019	3.00	2.62	2.62	10.58
Q2 2019	3.00	2.47	2.47	11.33
Q3 2019	3.00	2.52	2.52	12.15
Q4 2019	3.00	2.88	2.88	12.97
Q1 2020	3.00	1.08	1.08	11.56
Q2 2020	3.00	(0.36)	(0.36)	10.86
Q3 2020	3.00	(0.96)	(0.96)	11.08
Q4 2020	3.00	(2.80)	(1.07)	10.17
Q1 2021	3.00	(1.45)	0.27	10.21
Q2 2021	3.00	0.09	1.82	11.06
Q3 2021	3.00	0.13	1.86	11.32
Q4 2021	3.00	0.78	0.78	10.85
Q1 2022	3.00	(0.02)	(0.02)	10.09
Q2 2022	3.00	0.14	0.14	11.10
Q3 2022	3.00	0.04	0.04	11.25
Q4 2022	3.00	(1.07)	(1.07)	9.76
Q1 2023	3.00	(1.22)	(1.22)	8.85

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
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
2018	3.00	2.58	2.58	10.10
2019	3.00	2.88	2.88	12.97
2020	3.00	(2.80)	(1.07)	10.17
2021	3.00	0.78	0.78	10.85
2022	3.00	(1.07)	(1.07)	9.76

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
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
Q4 2018	10.66	10.66	2.72
Q1 2019	12.72	12.72	3.15
Q2 2019	15.17	15.17	3.31
Q3 2019	12.24	12.24	2.54
Q4 2019	22.86	22.86	5.07
Q1 2020	39.32	39.32	3.68
Q2 2020	NEG	NEG	4.44
Q3 2020	NEG	NEG	10.75
Q4 2020	NEG	NEG	15.45
Q1 2021	NEG	More than 50	12.65
Q2 2021	More than 50	More than 50	13.53
Q3 2021	More than 50	More than 50	15.02
Q4 2021	More than 50	More than 50	26.02
Q1 2022	NEG	NEG	26.36
Q2 2022	More than 50	More than 50	16.41
Q3 2022	More than 50	More than 50	17.14
Q4 2022	NEG	NEG	15.76
Q1 2023	NEG	NEG	18.06

Period	P/E	Adjusted P/E	Price/book
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	11.05	11.05	4.06
2018	10.66	10.66	2.72
2019	22.86	22.86	5.07
2020	NEG	NEG	15.45
2021	More than 50	More than 50	26.02
2022	NEG	NEG	15.76

Financial Ratios

	Current
Market Cap (M Riyal)	384.60
Enterprise Value (EV) (M)	394.00
Shares Outstanding ((M))	3.00
EPS ( Riyal) (TTM)	(0.15)
Book Value (BV) ( Riyal)	8.72
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	NEG
Price/book	14.71
Return on Average Assets (%) (TTM)	(0.56 )
Return on Average Equity (%) (TTM)	(1.66 )

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Development Works Food widens loss to SAR 2.7 mln in Q1 2023

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Share Price

Development Works Food Co. (DWF)

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 widens loss to SAR 2.7 mln in Q1 2023

View other reports

Share Price

Development Works Food Co. (DWF)

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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