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Real Estate Mgmt & Dev't
Food & Beverages
- 9515 - FESH FASH
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First Milling Co. (First Mills) reported a slight increase in 2023 net profit to SAR 220.2 million from SAR 217.5 million in 2022.
Financials (M)
Item | 2022 | 2023 | Change |
---|---|---|---|
Revenues | 913.65 | 964.26 | 5.5 % |
Gross Income | 397.93 | 413.14 | 3.8 % |
Operating Income | 259.89 | 289.18 | 11.3 % |
Net Income | 217.48 | 220.21 | 1.3 % |
Average Shares | 54.32 | 55.50 | 2.2 % |
EPS (Riyals) | 4.00 | 3.97 | (0.9 %) |
The marginal increase was driven by revenues that grew by 5.5% year-on-year (YoY) to SAR 964.3 million in 2023, thanks to a 9% YoY rise in flour product sales despite the temporary shutdown of Mill C. In addition, the company launched new products, and reported strong growth in small pack sales. For the first time, the company recorded sales in its newly launched pre-mix products, and the PESA mill offerings.
Aloula retail sales recorded 37% YoY growth in small-pack sales.
Bran sales also rose by 5.9% YoY, due to the success of the company’s strategy in building and further diversifying its customer base and increasing its geographic coverage across the Kingdom.
Overall, First Mills sales value and volumes, led by flour, increased. Further, the company controlled general and administrative expenses, which dropped by about SAR 24 million, including some non-recurring expenses.
On the other hand, feed products declined by 1% YoY despite a 9% rise in sales volumes.
Financing interest costs related to the long-term loan also increased. This followed the completion of the merger with the parent company, Al Raha Al Safi.
The fourth-quarter net earnings more than doubled to SAR 57.5 million from SAR 20.29 million in Q4 2022.
Current Quarter Comparison (M)
Item | Q4 2022 | Q4 2023 | Change |
---|---|---|---|
Revenues | 226.60 | 246.62 | 8.8 % |
Gross Income | 87.92 | 104.60 | 19.0 % |
Operating Income | 41.43 | 76.15 | 83.8 % |
Net Income | 20.29 | 57.51 | 183.5 % |
Average Shares | 54.32 | 55.50 | 2.2 % |
EPS (Riyals) | 0.37 | 1.04 | 177.4 % |
Item | Q3 2023 | Q4 2023 | Change |
---|---|---|---|
Revenues | 248.14 | 246.62 | (0.6 %) |
Gross Income | 100.40 | 104.60 | 4.2 % |
Operating Income | 70.73 | 76.15 | 7.7 % |
Net Income | 54.04 | 57.51 | 6.4 % |
Average Shares | 55.50 | 55.50 | - |
EPS (Riyals) | 0.97 | 1.04 | 6.4 % |
On a quarterly basis, the company’s net profit grew 6.4% from SAR 54 million in Q3 2023.
Shareholders’ equity, no minority interest, increased to SAR 892.1 million as of Dec. 31, 2023, compared to SAR 751 million in the year-earlier period.
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- TASI
-
Energy
- 2222 - SAUDI ARAMCO
- 2030 - SARCO
- 2380 - PETRO RABIGH
- 4030 - BAHRI
- 4200 - ALDREES
- 2381 - ARABIAN DRILLING
- 2382 - ADES
- 1201 - TAKWEEN
- 1202 - MEPCO
- 1210 - BCI
- 1211 - MAADEN
- 1301 - ASLAK
- 1304 - ALYAMAMAH STEEL
- 1320 - SSP
- 2001 - CHEMANOL
- 2010 - SABIC
- 2020 - SABIC AGRI-NUTRIENTS
- 2090 - NGC
- 2150 - ZOUJAJ
- 2170 - ALUJAIN
- 2180 - FIPCO
- 2200 - APC
- 2210 - NAMA CHEMICALS
- 2220 - MAADANIYAH
- 2240 - ZAMIL INDUST
- 2250 - SIIG
- 2290 - YANSAB
- 2300 - SPM
- 2310 - SIPCHEM
- 2330 - ADVANCED
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- 3002 - NAJRAN CEMENT
- 3003 - CITY CEMENT
- 3004 - NORTHERN CEMENT
- 3005 - UACC
- 3010 - ACC
- 3020 - YC
- 3030 - SAUDI CEMENT
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- 3050 - SPCC
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- 3080 - EPCCO
- 3090 - TCC
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- 2060 - TASNEE
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- 1321 - EAST PIPES
- 1322 - AMAK
- 2223 - LUBEREF
- 2360 - SVCP
- 1212 - ASTRA INDUSTRIAL
- 1302 - BAWAN
- 1303 - EIC
- 2040 - SAUDI CERAMICS
- 2110 - SAUDI CABLE
- 2160 - AMIANTIT
- 2320 - ALBABTAIN
- 2370 - MESC
- 4140 - SIECO
- 4141 - ALOMRAN
- 4142 - RIYADH CABLES
- 1214 - SHAKER
- 4110 - BATIC
- 4143 - TALCO
- 4031 - SGS
- 4040 - SAPTCO
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- 4261 - THEEB
- 4263 - SAL
- 4262 - LUMI
- 1810 - SEERA
- 6013 - DWF
- 1820 - ALHOKAIR GROUP
- 4170 - TECO
- 4290 - ALKHALEEJ TRNG
- 6002 - HERFY FOODS
- 1830 - Leejam Sports
- 6012 - RAYDAN
- 4291 - NCLE
- 4292 - ATAA
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- 4051 - BAAZEEM
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- 4061 - ANAAM HOLDING
- 4160 - THIMAR
- 4161 - BINDAWOOD
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- 2281 - TANMIAH
- 2282 - NAQI
- 2283 - FIRST MILLS
- 4080 - SINAD HOLDING
- 2284 - MODERN MILLS
- 2285 - ARABIAN MILLS
- 2286 - FOURTH MILLING
- 4002 - MOUWASAT
- 4004 - DALLAH HEALTH
- 4005 - CARE
- 4007 - ALHAMMADI
- 4009 - SAUDI GERMAN HEALTH
- 2230 - CHEMICAL
- 4013 - SULAIMAN ALHABIB
- 2140 - AYYAN
- 4014 - EQUIPMENT HOUSE
- 4017 - FAKEEH CARE
- 1010 - RIBL
- 1020 - BJAZ
- 1030 - SAIB
- 1050 - BSF
- 1060 - SAB
- 1080 - ANB
- 1120 - ALRAJHI
- 1140 - ALBILAD
- 1150 - ALINMA
- 1180 - SNB
- 2120 - SAIC
- 4280 - KINGDOM
- 4130 - ALBAHA
- 4081 - NAYIFAT
- 1111 - TADAWUL GROUP
- 4082 - MRNA
- 1182 - AMLAK
- 1183 - SHL
- 8010 - TAWUNIYA
- 8012 - JAZIRA TAKAFUL
- 8020 - MALATH INSURANCE
- 8030 - MEDGULF
- 8040 - ALLIANZ SF
- 8050 - SALAMA
- 8060 - WALAA
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- 8230 - ALRAJHI TAKAFUL
- 8280 - LIVA
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- 8120 - GULF UNION ALAHLIA
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- 4336 - MULKIA REIT
- 4338 - ALAHLI REIT 1
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- 4342 - JADWA REIT SAUDI
- 4340 - Al RAJHI REIT
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- 4344 - SEDCO CAPITAL REIT
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- 4323 - SUMOU
- 4090 - TAIBA
- 4100 - MCDC
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- 4230 - RED SEA
- 4250 - JABAL OMAR
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- 4310 - KEC
- 4320 - ALANDALUS
- 4321 - CENOMI CENTERS
- 4322 - RETAL
- NOMU
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Real Estate Mgmt & Dev't
Food & Beverages
- 9515 - FESH FASH
- 9532 - ALJOUF WATER
- 9536 - FADECO
- 9556 - NOFOTH
- 9559 - BALADY
- 9564 - HORIZON FOOD
- 9555 - LEEN ALKHAIR
- 9612 - SAMA WATER
- 9518 - CMCER
- 9530 - TIBBIYAH
- 9527 - AME
- 9544 - FUTURE CARE
- 9546 - NABA ALSAHA
- 9574 - PRO MEDEX
- 9594 - ALMODAWAT
- 9572 - ALRAZI
- 9587 - LANA
- 9600 - QOMEL
- 9604 - MIRAL
- 9513 - WATANI STEEL
- 9514 - ALNAQOOL
- 9523 - GROUP FIVE
- 9539 - AQASEEM
- 9548 - APICO
- 9553 - MOLAN
- 9565 - MEYAR
- 9552 - SAUDI TOP
- 9563 - BENA
- 9566 - LIME INDUSTRIES
- 9580 - ALRASHID INDUSTRIAL
- 9583 - UNITED MINING
- 9576 - PAPER HOME
- 9588 - RIYADH STEEL
- 9575 - MARBLE DESIGN
- 9599 - TAQAT
- 9601 - ALRASHEED
- 9605 - NEFT ALSHARQ
- 9607 - ASG
- 9609 - NAAS PETROL
- 9510 - NBM
- 9528 - GAS
- 9531 - OBEIKAN GLASS
- 9533 - SPC
- 9529 - RAOOM
- 9525 - ALWASAIL INDUSTRIAL
- 9542 - KEIR
- 9547 - RAWASI
- 9568 - MAYAR
- 9569 - ALMUNEEF
- 9578 - ATLAS ELEVATORS
- 9560 - WAJA
- 9611 - UFG
- 9540 - TADWEEER
- 9545 - ALDAWLIAH
- 9570 - TAM DEVELOPMENT
- 9581 - CLEAN LIFE
- 9593 - PAN GULF
- 9597 - LEAF
- 9608 - ALASHGHAL ALMOYSRA
- 9606 - THARWAH
- 9541 - ACADEMY OF LEARNING
- 9562 - FOOD GATE
- 9590 - ARMAH
- 9526 - JAHEZ
- 9598 - ALMOHAFAZA FOR EDUCATION
- 9603 - HORIZON EDUCATIONAL
- 9567 - GHIDA ALSULTAN
Share Price
First Milling Co. (FIRST MILLS)
Current | |
Market Cap (M Riyal) | 3,529.80 |
Enterprise Value (EV) (M) | 4,445.99 |
Shares Outstanding ((M)) | 55.50 |
EPS ( Riyal) (TTM) | 4.36 |
Book Value (BV) ( Riyal) | 15.80 |
Par Value ( Riyal) | 10.00 |
Adjusted P/E (Last12) | 14.44 |
P/E (TTM) | 14.59 |
Price/book | 4.03 |
Return on Average Assets (%) (TTM) | 9.9 |
Return on Average Equity (%) (TTM) | 28.2 |
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