Financial Results : Alamar’s H1 2022 net profit rises 10% to SAR 66.8 mln; Q2 at SAR 23.6 mln

Alamar’s H1 2022 net profit rises 10% to SAR 66.8 mln; Q2 at SAR 23.6 mln

17/08/2022 Argaam Exclusive

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Alamar Foods Co. reported a net profit after Zakat and tax of SAR 66.8 million in H1 2022, an increase of 10%, compared to SAR 60.9 million in the prior-year period.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 401.65 526.95 31.2 %
Gross Income 142.35 184.24 29.4 %
Operating Income 61.93 72.25 16.7 %
Net Income 61.91 67.22 8.6 %
Average Shares 25.50 25.50 -
EPS (Riyals) 2.43 2.64 8.6 %

This was triggered by the significant growth in sales, partially offset by the increase in the costs of raw materials as well as some expenses that are related to the second quarter only. 

 

The company’s Q2 2022 net profit after Zakat and tax dropped 8% to SAR 23.6 million from SAR 25.66 million a year earlier, driven by higher costs of raw materials and increased expenses related to the three-month period. 



Current Quarter Comparison (M)

Compared With The
Item Q2 2021 Q2 2022 Change‬
Revenues 197.51 255.98 29.6 %
Gross Income 65.42 85.36 30.5 %
Operating Income 26.31 27.00 2.6 %
Net Income 25.51 23.98 (6.0 %)
Average Shares 25.50 25.50 -
EPS (Riyals) 1.00 0.94 (6.0 %)

On a sequential basis, net profit dropped by 45.3%, impacted by the seasonality factors due to Ramadan.

 

Total shareholders’ equity, excluding minority interest, stood at SAR 345.991 million by the end of H1 2022, compared to SAR 281.813 million in the year-earlier period.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 167.21 - 45.85 - 5.77 -
Q2 2020 112.93 - 22.29 - (8.05) -
Q3 2020 205.22 - 82.31 - 43.27 -
Q4 2020 210.08 - 80.31 - 24.12 -
Q1 2021 204.15 22.1 % 76.93 67.8 % 35.62 517.7 %
Q2 2021 197.51 74.9 % 65.42 193.5 % 26.31 426.7 %
Q3 2021 220.80 7.6 % 75.45 (8.3 %) 29.92 (30.9 %)
Q4 2021 245.69 16.9 % 89.30 11.2 % 34.67 43.8 %
Q1 2022 270.97 32.7 % 98.88 28.5 % 45.26 27.0 %
Q2 2022 255.98 29.6 % 85.36 30.5 % 27.00 2.6 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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 2.98 - 0.12 - 2.98 0.12
Q2 2020 (10.81) - (0.42) - (10.81) (0.42)
Q3 2020 40.85 - 1.60 - 40.85 1.60
Q4 2020 23.26 - 0.91 - 23.26 0.91
Q1 2021 36.39 1122.8 % 1.43 - 36.39 1.43
Q2 2021 25.51 336.0 % 1.00 - 25.51 1.00
Q3 2021 25.49 (37.6 %) 1.00 - 25.49 1.00
Q4 2021 31.19 34.1 % 1.22 - 31.19 1.22
Q1 2022 43.24 18.8 % 1.70 - 43.24 1.70
Q2 2022 23.98 (6.0 %) 0.94 - 23.98 0.94

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 33.18 % 16.63 % 8.09 %
Q1 2021 35.75 % 23.03 % 12.25 %
Q2 2021 37.33 % 27.84 % 15.43 %
Q3 2021 35.81 % 25.72 % 13.29 %
Q4 2021 35.37 % 25.95 % 13.66 %
Q1 2022 35.19 % 25.48 % 13.42 %
Q2 2022 35.13 % 24.24 % 12.47 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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 25.50 - - -
Q2 2020 25.50 - - -
Q3 2020 25.50 - - -
Q4 2020 25.50 2.21 2.21 8.84
Q1 2021 25.50 3.52 3.52 -
Q2 2021 25.50 4.94 4.94 11.05
Q3 2021 25.50 4.34 4.34 12.11
Q4 2021 25.50 4.65 4.65 13.36
Q1 2022 25.50 4.92 4.92 15.03
Q2 2022 25.50 4.86 4.86 13.57

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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 - - -
Q3 2021 - - -
Q4 2021 - - -
Q1 2022 - - -
Q2 2022 - - -

Business Segments (Million)

Compared With The
Period Domino's Pizza Dunkin Donuts Other activities Eliminations
Q3 2020 189.42 11.33 9.78 (5.30)
Q4 2020 193.76 12.28 9.53 (5.49)
Q1 2021 187.98 12.12 9.62 (5.58)
Q2 2021 173.85 10.60 18.53 (5.46)
Q3 2021 207.57 18.06 1.48 (6.32)
Q4 2021 219.03 22.39 11.79 (7.53)
Q1 2022 244.23 22.64 11.41 (7.31)
Q2 2022 232.33 18.80 11.95 (7.09)


Financial Ratios
Current
Market Cap (M Riyal) 1,938.00
Enterprise Value (EV) (M) 1,815.60
Shares Outstanding ((M)) 25.50
EPS ( Riyal) (TTM) 0.86
Book Value (BV) ( Riyal) 11.48
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 6.62
Return on Average Assets (%) (TTM) 3.1
Return on Average Equity (%) (TTM) 7.0
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Share Price

Alamar Foods Co.
76.00
(0.40) (0.52 %)

Alamar Foods Co. (ALAMAR)

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