SADAFCO’s net profit rises 7% to SAR 205 mln in 9M 2020/21

21/01/2021 Argaam Exclusive

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Saudia Dairy & Foodstuff Company (SADAFCO) reported a net profit after Zakat and tax of SAR 205 million for the first nine-month period ended Dec. 31, 2020, a rise of 7% compared to a net profit of SAR 191.1 million a year earlier.

 

The increase was driven by higher sales, lower cost of goods sold and lower trade promotion activity. This was partially offset by incremental COVID-19 costs of SAR 12.5 million and a donation of SAR 8.7 million.



Financials (M)

Item 9m 2019 9m 2020 Change‬
Revenues 1,494.78 1,583.41 5.9 %
Gross Income 509.37 521.02 2.3 %
Operating Income 200.94 211.70 5.4 %
Net Income 191.77 204.47 6.6 %
Average Shares 32.50 32.50 -
Earnings Per Share before unusual items (Riyals) 5.90 6.29 6.6 %
EPS (Riyals) 5.90 6.29 6.6 %

In Q3 2020/21, the company posted a net profit after Zakat and tax of SAR 64.2 million, a decline of 6% YoY, due to lower sales and lower gross margins which were partially offset by decreased expenses.

 

When compared to the previous quarter, net earnings dropped 8.7%.



Current Quarter Comparison (M)

Compared With The
Item Q3 2019 Q3 2020 Change‬
Revenues 488.47 482.02 (1.3 %)
Gross Income 176.12 160.80 (8.7 %)
Operating Income 72.58 63.42 (12.6 %)
Net Income 68.32 63.77 (6.7 %)
Average Shares 32.50 32.50 -
Earnings Per Share before unusual items (Riyals) 2.10 1.96 (6.7 %)
EPS (Riyals) 2.10 1.96 (6.7 %)

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Share Price

Saudia Dairy and Foodstuff Co.
307.00
(6.00) (1.92 %)

Saudia Dairy and Foodstuff Co. (SADAFCO)

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Financial Ratios
Current
Market Cap (M Riyal) 9,977.50
Enterprise Value (EV) (M) 9,286.95
Shares Outstanding ((M)) 32.50
EPS ( Riyal) (TTM) 14.88
Book Value (BV) ( Riyal) 55.61
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 20.97
P/E (TTM) 20.63
Price/book 5.52
Return on Average Assets (%) (TTM) 17.8
Return on Average Equity (%) (TTM) 21.0
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