Logo of Americana Restaurants International
Americana Restaurants International, which is set for dual listing in Saudi Arabia and Abu Dhabi stock markets, posted net earnings of $195.8 million (2.3 cents per share) for the first nine months of 2022, compared with $154.4 million a year earlier.
|
Income Statement – Interim |
|||
|
Period |
September 2021 |
September 2022 |
Change |
|
Revenue ($ mln) |
1507.9 |
1771.0 |
+17% |
|
Net Earnings ($ mln) |
154.5 |
195.8 |
+27% |
|
Average Number of Shares (mln) |
8423.63 |
8423.63 |
-- |
|
Earnings Per Share (cents/share) |
1.83 |
2.32 |
|
The profit increase was driven by 17% revenue growth year-on-year (YoY), in addition to a rise in monetary gains from hyperinflation by 9% to $7.1 million, compared to $6.5 million a year earlier.
This was also due to recording $2.1 million fair value gains on financial assets at fair value through profit or loss, amounting to $2.1 million, compared to nothing during the same period of 2021. The company also cited a decline in income tax, Zakat, and share of Kuwait Foundation for the Advancement of Sciences by 31% YoY to $7.6 million.
|
Income Statement – Quarterly |
|||
|
Period |
Q3 2021 |
Q3 2022 |
Change |
|
Revenue ($ mln) |
539.8 |
619.1 |
+15% |
|
Net Earnings ($ mln) |
61.2 |
74.6 |
+22% |
|
Average Number of Shares (mln) |
8423.63 |
8423.63 |
-- |
|
Earnings Per Share (cents/share) |
0.73 |
0.88 |
+22% |
The following table indicates the development of revenues and net profit over the past three years:
|
Income Statement for Past Three Years |
|||
|
Period |
2019 |
2020 |
2021 |
|
Revenue ($ mln) |
1890.2 |
1577.8 |
2051.7 |
|
Net Earnings ($ mln) |
151.1 |
80.8 |
203.9 |
|
Average Number of Shares (mln) |
8423.63 |
8423.63 |
8423.63 |
|
Earnings Per Share (cents/share) |
1.79 |
0.96 |
2.42 |
All segments witnessed a rise in geographical revenues in the first nine months, as GCC revenues increased by 19% YoY. Meanwhile, revenues from Southern Gulf Countries grew by 22% YoY to $191.2 million. Revenues from North Africa and other regions rose by 16% and 7%, respectively.
|
Geographic Revenues for 9M 2022 ($ mln) |
|||
|
Segment / Period |
September 2021 |
September 2022 |
Change |
|
GCC |
1000.3 |
1186.9 |
+19% |
|
Southern GCC Countries |
157.1 |
191.2 |
+22% |
|
North Africa |
202.3 |
234.1 |
+16% |
|
Others |
148.2 |
158.8 |
+7% |
|
Total |
1507.9 |
1771.0 |
+17% |
The following table shows the historical development of geographical revenues during the past three years:
|
Geographical Revenues for Past Three Years ($ mln) |
|||
|
Segment / Period |
2019 |
2020 |
2021 |
|
GCC |
1253.7 |
1041.9 |
1364.0 |
|
Southern GCC Countries |
204.0 |
178.1 |
218.7 |
|
North Africa |
244.6 |
201.4 |
273.6 |
|
Others |
187.9 |
156.3 |
195.5 |
|
Total |
1890.2 |
1577.8 |
2051.7 |
|
Key Items of Balance Sheet ($ mln) |
||||
|
Period |
2019 |
2020 |
2021 |
Q3 2022 |
|
Cash and Its Equivalent |
169.9 |
196.3 |
174.0 |
273.1 |
|
Current Assets |
355.4 |
390.1 |
391.2 |
564.4 |
|
Non-Current Assets |
745.1 |
626.2 |
696.7 |
704.3 |
|
Total Assets |
1100.6 |
1016.4 |
1087.9 |
1268.7 |
|
Bank Facilities |
13.6 |
24.6 |
7.1 |
27.4 |
|
Current Liabilities |
514.7 |
539.4 |
566.1 |
651.3 |
|
Non-Current Liabilities |
450.5 |
390.3 |
382.1 |
389.8 |
|
Total Liabilities |
965.2 |
929.7 |
948.2 |
1041.2 |
|
Capital |
-- |
-- |
-- |
168.5 |
|
Net Accumulated Contribution from Intermediate Parent Company |
120.0 |
89.8 |
149.0 |
-- |
|
Retained Earnings |
-- |
-- |
-- |
76.0 |
|
Total Shareholders' Equity |
118.5 |
77.1 |
128.6 |
216.5 |
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