Financial Results : Tanmiah Food net profit drops 16% to SAR 22.2 mln in H1 2021

Tanmiah Food net profit drops 16% to SAR 22.2 mln in H1 2021

22/08/2021 Argaam Exclusive

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Tanmiah Food Co. reported a net profit after Zakat and tax of SAR 22.2 million for the first half of 2021, a drop of 16% from SAR 26.5 million a year earlier.

 

The lower net profit was attributed to higher selling, distribution, general and administrative expenses.

 

Tanmiah also reported an increase in the cost of sales due to higher volume and grain prices in the global commodity markets. On the other hand, the company reported improved sales from the quick service restaurants (QSR) business amid eased COVID-19 restrictions.



Financials (M)

Item 6m 2020 6m 2021 Change‬
Revenues 575.76 734.86 27.6 %
Gross Income 139.32 167.50 20.2 %
Operating Income 42.24 35.72 (15.4 %)
Net Income 26.51 22.21 (16.2 %)
Average Shares 20.00 20.00 -
EPS (Riyals) 1.33 1.11 (16.2 %)

In Q2 2021, net profit after Zakat and tax plummeted 68% to SAR 3.4 million from SAR 10.5 million in the year-ago period.

 

The company cited an increase in selling, distribution, general and administrative expenses.

 

Sequentially, Tanmiah’s net profit after Zakat and tax tumbled 82% from SAR 18.8 million.



Current Quarter Comparison (M)

Compared With The
Item Q2 2020 Q2 2021 Change‬
Revenues 280.14 366.52 30.8 %
Gross Income 66.29 78.18 17.9 %
Operating Income 18.10 9.59 (47.0 %)
Net Income 10.46 3.42 (67.3 %)
Average Shares 20.00 20.00 -
EPS (Riyals) 0.52 0.17 (67.3 %)

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2012 - - - - - -
Q2 2012 - - - - - -
Q3 2012 - - - - - -
Q4 2012 - - - - - -
Q1 2013 - - - - - -
Q2 2013 - - - - - -
Q3 2013 - - - - - -
Q4 2013 - - - - - -
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 - - - - - -
Q1 2018 - - - - - -
Q2 2018 - - - - - -
Q3 2018 - - - - - -
Q4 2018 - - - - - -
Q1 2019 - - - - - -
Q2 2019 - - - - - -
Q3 2019 - - - - - -
Q4 2019 - - - - - -
Q1 2020 295.62 - 73.03 - 24.14 -
Q2 2020 280.14 - 66.29 - 18.10 -
Q3 2020 304.29 - 79.06 - 25.04 -
Q4 2020 331.88 - 91.26 - 38.91 -
Q1 2021 368.34 24.6 % 89.32 22.3 % 26.12 8.2 %
Q2 2021 366.52 30.8 % 78.18 17.9 % 9.59 (47.0 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2012 - - - - - -
Q2 2012 - - - - - -
Q3 2012 - - - - - -
Q4 2012 - - - - - -
Q1 2013 - - - - - -
Q2 2013 - - - - - -
Q3 2013 - - - - - -
Q4 2013 - - - - - -
Q1 2014 - - - - - -
Q2 2014 - - - - - -
Q3 2014 - - - - - -
Q4 2014 - - - - - -
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 - - - - - -
Q1 2018 - - - - - -
Q2 2018 - - - - - -
Q3 2018 - - - - - -
Q4 2018 - - - - - -
Q1 2019 - - - - - -
Q2 2019 - - - - - -
Q3 2019 - - - - - -
Q4 2019 - - - - - -
Q1 2020 16.05 - 0.80 - 16.05 0.80
Q2 2020 10.46 - 0.52 - 10.46 0.52
Q3 2020 17.52 - 0.88 - 17.52 0.88
Q4 2020 30.38 - 1.52 - 30.38 1.52
Q1 2021 18.79 17.1 % 0.94 - 18.79 0.94
Q2 2021 3.42 (67.3 %) 0.17 - 3.42 0.17

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 25.55 % 15.05 % 6.14 %
Q1 2021 25.37 % 16.42 % 6.01 %
Q2 2021 24.64 % 13.83 % 5.11 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2012 - - - -
Q2 2012 - - - -
Q3 2012 - - - -
Q4 2012 - - - -
Q1 2013 - - - -
Q2 2013 - - - -
Q3 2013 - - - -
Q4 2013 - - - -
Q1 2014 - - - -
Q2 2014 - - - -
Q3 2014 - - - -
Q4 2014 - - - -
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 - - - -
Q2 2016 - - - -
Q3 2016 - - - -
Q4 2016 - - - -
Q1 2017 - - - -
Q2 2017 - - - -
Q3 2017 - - - -
Q4 2017 - - - -
Q1 2018 - - - -
Q2 2018 - - - -
Q3 2018 - - - -
Q4 2018 - - - -
Q1 2019 - - - -
Q2 2019 - - - -
Q3 2019 - - - -
Q4 2019 - - - -
Q1 2020 20.00 - - -
Q2 2020 20.00 - - -
Q3 2020 20.00 - - -
Q4 2020 20.00 3.72 3.72 17.38
Q1 2021 20.00 3.86 3.86 18.32
Q2 2021 20.00 3.51 3.51 18.50

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 - - -
Q2 2021 - - -

Business Segments (Million)

Compared With The
Period Fresh Poultry Animal Feed and Health Food franchise operator


Financial Ratios
Current
Market Cap (M Riyal) 2,700.00
Enterprise Value (EV) (M) 3,051.56
Shares Outstanding ((M)) 20.00
EPS ( Riyal) (TTM) 4.77
Book Value (BV) ( Riyal) 32.50
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 28.29
P/E (TTM) 28.29
Price/book 4.15
Return on Average Assets (%) (TTM) 4.6
Return on Average Equity (%) (TTM) 15.3
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Share Price

Tanmiah Food Co.
135.00
(0.40) (0.30 %)

Tanmiah Food Co. (TANMIAH)

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