Almarai net profit drops 10% in FY2019

19/01/2020 Argaam Exclusive

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Almarai Company reported a net profit after zakat and tax of SAR 1.81 billion for the fiscal year of 2019, a 9.95% year-on-year (YoY) decrease, the company said in a bourse statement on Sunday.

The drop was attributed to higher selling and distribution expenses, as well as general and administrative expenses and financing costs, according to the statement.

Financials (M)

Item	2018	2019	Change‬
Revenues	13,557.84	14,351.28	5.9 %
Gross Income	5,327.07	5,366.67	0.7 %
Operating Income	2,771.63	2,590.07	(6.6 %)
Net Income	2,011.98	1,811.75	(10.0 %)
Average Shares	1,000.00	1,000.00	-
EPS (Riyals)	2.01	1.81	(10.0 %)

The dairy producer’s net profit for Q4 2019 fell 15.9% YoY to SAR 311.9 million.

On a sequential basis, Q4 2019 net profit slid by 46.3% compared to the previous quarter due to one off charges booked in Q4 2019.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	3,381.18	3,703.94	9.5 %
Gross Income	1,262.94	1,293.51	2.4 %
Operating Income	629.06	533.32	(15.2 %)
Net Income	370.77	311.95	(15.9 %)
Average Shares	1,000.00	1,000.00	-
EPS (Riyals)	0.37	0.31	(15.9 %)

Item	Q3 2019	Q4 2019	Change‬
Revenues	3,573.26	3,703.94	3.7 %
Gross Income	1,443.77	1,293.51	(10.4 %)
Operating Income	770.15	533.32	(30.8 %)
Net Income	581.25	311.95	(46.3 %)
Average Shares	1,000.00	1,000.00	-
EPS (Riyals)	0.58	0.31	(46.3 %)

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