Almunajem Foods 2022 profit leaps 75% to SAR 290.2 mln, Q4 at SAR 16.9 mln

23/03/2023 Argaam Exclusive

Almunajem Foods Co. posted a net profit of SAR 290.2 million for 2022, up 75% compared to SAR 166.1 million in the previous year.



Financials (M)

Item 2021 2022 Change‬
Revenues 2,577.02 2,978.52 15.6 %
Gross Income 441.37 583.26 32.1 %
Operating Income 178.88 302.04 68.9 %
Net Income 166.09 290.20 74.7 %
Average Shares 60.00 60.00 -
EPS (Riyals) 2.77 4.84 74.7 %

The profit growth was due to an increase in revenue by 15.6% year-on-year (YoY) to SAR 2.97 billion on improved trade conditions. In addition, gross profit leapt by 33.2% YoY on improved profit margins in almost all categories.

However, operating expenses rose by 9% YoY to SAR 286 million, and Zakat expense was up 29.8% to SAR 19 million.

 

The company's Q4 2022 net profit fell 63% to SAR 16.90 million, compared to SAR 45.98 million a year earlier.

 

On a sequential basis, Q4 2022 net profit fell 68.5% from SAR 53.62 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2021 Q4 2022 Change‬
Revenues 679.50 747.84 10.1 %
Gross Income 115.34 90.99 (21.1 %)
Operating Income 49.12 23.88 (51.4 %)
Net Income 45.98 16.90 (63.2 %)
Average Shares 60.00 60.00 -
EPS (Riyals) 0.77 0.28 (63.2 %)

Shareholders' equity, no minority interest, at the end of 2022 amounted to SAR 900.5 million, compared to SAR 804.7 million in 2021.

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Share Price

Almunajem Foods Co.
97.70
(1.30) (1.31 %)

Almunajem Foods Co. (ALMUNAJEM)

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Financial Ratios
Current
Market Cap (M Riyal) 5,862.00
Enterprise Value (EV) (M) 5,885.52
Shares Outstanding ((M)) 60.00
EPS ( Riyal) (TTM) 5.00
Book Value (BV) ( Riyal) 17.85
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 19.54
P/E (TTM) 19.54
Price/book 5.47
Return on Average Assets (%) (TTM) 18.4
Return on Average Equity (%) (TTM) 29.5
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