SADAFCO net profit down 2% to SAR 260.9 mln in FY2020/21

10/05/2021 Argaam Exclusive

Saudia Dairy & Foodstuff Company (SADAFCO) reported a net profit after Zakat and tax of SAR 260.9 million for the fiscal year ended March 31, 2021, a decline of 2% from a net profit of SAR 265.1 million a year earlier.



Financials (M)

Item 2019 2020 Change‬
Revenues 2,056.09 2,105.40 2.4 %
Gross Income 689.18 693.83 0.7 %
Operating Income 287.77 276.53 (3.9 %)
Net Income 266.26 260.55 (2.1 %)
Average Shares 32.50 32.50 -
EPS (Riyals) 8.19 8.02 (2.1 %)


Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 561.31 521.98 (7.0 %)
Gross Income 179.81 172.81 (3.9 %)
Operating Income 86.83 64.83 (25.3 %)
Net Income 74.50 56.08 (24.7 %)
Average Shares 32.50 32.50 -
EPS (Riyals) 2.29 1.73 (24.7 %)

The company was hit by the COVID-19 pandemic impact. Adjusting for the impact of the pandemic costs and donations, net profit would have been higher by 7.5%, or SAR 24 million.

 

Moreover, general and administrative expenses increased as a percentage of sales to 5.2% from 4.9% last year (SAR 101 million to SAR 109 million in absolute terms) driven by SAR 8.7 million donation in cash and kind.

 

Finance costs also increased to SAR 7.7 million from SAR 3.8 million a year earlier, due to lease and put options on non-controlling interest liabilities.


The fourth-quarter net profit dropped 23% year-on-year (YoY) to SAR 56.4 million.

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Share Price

Saudia Dairy and Foodstuff Co.
331.20
(4.40) (1.31 %)

Saudia Dairy and Foodstuff Co. (SADAFCO)

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Financial Ratios
Current
Market Cap (M Riyal) 10,764.00
Enterprise Value (EV) (M) 10,168.85
Shares Outstanding ((M)) 32.50
EPS ( Riyal) (TTM) 15.25
Book Value (BV) ( Riyal) 52.86
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 21.91
P/E (TTM) 21.71
Price/book 6.27
Return on Average Assets (%) (TTM) 18.7
Return on Average Equity (%) (TTM) 28.2
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