Savola net profit up 76% to SAR 270.9 mln in Q1 2022

16/05/2022 Argaam Exclusive

Savola Group reported a net profit after Zakat and tax of SAR 270.9 million for Q1 2022, a 76% increase from SAR 153.8 million in the same period a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 5,953.57 7,489.35 25.8 %
Gross Income 1,211.63 1,285.41 6.1 %
Operating Income 244.24 324.26 32.8 %
Net Income 153.83 270.89 76.1 %
Average Shares 241.05 241.05 -
EPS (Riyals) 0.64 1.12 76.1 %

The profit increase is attributed to higher sales volume that was partially offset by a rise in commodity prices in the food processing segment. In addition, Savola noted a higher share of profits from associates and lower operating expenses.

 

The company turned to a net profit in Q1 2022 from a net loss of SAR 254.4 million in Q4 2021.

 

Total shareholders’ equity, excluding minority interest, stood at SAR 8.177 billion as of March 31, 2022, declining by 3.9% from SAR 8.507 billion a year earlier.

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Share Price

Savola Group
37.00
(0.45) (1.20 %)

Savola Group (SAVOLA GROUP)

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Financial Ratios
Current
Market Cap (M Riyal) 11,100.00
Enterprise Value (EV) (M) 12,332.10
Shares Outstanding ((M)) 300.00
EPS ( Riyal) (TTM) 2.97
Book Value (BV) ( Riyal) 49.09
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 14.23
P/E (TTM) 12.44
Price/book 0.75
Return on Average Assets (%) (TTM) 2.8
Return on Average Equity (%) (TTM) 7.7
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