Savola Group reported a net profit of SAR 672.1 million for the first nine months of 2023, an increase of 4% from SAR 648.3 million in the year-earlier period.
| Item | 9m 2022 | 9m 2023 | Change |
|---|---|---|---|
| Revenues | 21,450.06 | 20,258.68 | (5.6 %) |
| Gross Income | 3,681.99 | 4,059.48 | 10.3 % |
| Operating Income | 866.02 | 1,115.05 | 28.8 % |
| Net Income | 648.28 | 672.13 | 3.7 % |
| Average Shares | 533.98 | 533.98 | - |
| EPS (Riyals) | 1.21 | 1.26 | 3.7 % |
The company reported higher gross profit in the food processing and retail segments. In addition, it recorded capital gains of SAR 18.5 million on the disposal of investment in Savola Morocco Co.
| Item | Q3 2022 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 7,072.41 | 6,350.90 | (10.2 %) |
| Gross Income | 1,148.92 | 1,310.49 | 14.1 % |
| Operating Income | 413.62 | 462.18 | 11.7 % |
| Net Income | 163.64 | 147.36 | (9.9 %) |
| Average Shares | 533.98 | 533.98 | - |
| EPS (Riyals) | 0.31 | 0.28 | (9.9 %) |
| Item | Q2 2023 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 6,093.29 | 6,350.90 | 4.2 % |
| Gross Income | 1,246.96 | 1,310.49 | 5.1 % |
| Operating Income | 260.09 | 462.18 | 77.7 % |
| Net Income | 132.03 | 147.36 | 11.6 % |
| Average Shares | 533.98 | 533.98 | - |
| EPS (Riyals) | 0.25 | 0.28 | 11.6 % |
Q3 2023 net earnings declined 10% year-on-year (YoY) to SAR 147.4 million, on lower profit share from associates, higher net finance cost, increased operating expenses and an increase in Zakat and income tax expenses.
The group reported revenue of SAR 6.4 billion during Q3 2023, compared to SAR 7.1 billion for the same quarter last year, primarily due to a drop in revenue from the food processing segment.
On a quarterly basis, net profit increased 11.6% from SAR 132.03 million in Q2 2023.
Total shareholders’ equity, excluding minority interest, stood at SAR 8.30 billion as of Sept. 30, 2023, compared to SAR 8.40 billion in the prior-year period.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}