Balady Poultry profit surges to SAR 85.1 mln in 2022
27/03/2023
Argaam Exclusive
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Balady Poultry Trading Co. reported a net profit of SAR 85.1 million in 2022, compared to SAR 20.5 million a year earlier.
Financials (M)
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 357.50 | 641.28 | 79.4 % |
| Gross Income | 27.94 | 96.45 | 245.2 % |
| Operating Income | 15.96 | 76.20 | 377.4 % |
| Net Income | 20.54 | 85.10 | 314.3 % |
| Average Shares | 6.57 | 6.57 | - |
| EPS (Riyals) | 3.13 | 12.95 | 314.3 % |
The higher profit was driven by an increase of 79.87% year-on-year (YoY) in sales and revenue to SAR 653 million in 2022 on higher production.
The company achieved an average daily production of 133,000 birds per day in 2022, compared to about 87,000 birds per day in 2021.
Compared With The
Current Half Annual Comparison (M)
| Item | H2 2021 | H2 2022 | Change |
|---|---|---|---|
| Revenues | 194.67 | 362.68 | 86.3 % |
| Gross Income | 15.28 | 52.71 | 244.9 % |
| Operating Income | 10.03 | 42.17 | 320.3 % |
| Net Income | 11.32 | 48.85 | 331.7 % |
| Average Shares | 6.57 | 6.57 | - |
| EPS (Riyals) | 1.72 | 7.44 | 331.7 % |
Shareholders’ equity, no minority interest, stood at SAR 137.18 million as of Dec. 31, 2022, compared to SAR 70.90 million in the year-earlier period.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2022 | 278.61 | 71.1 % | 43.73 | 245.6 % | 34.02 | 473.9 % |
| H2 2022 | 362.68 | 86.3 % | 52.71 | 244.9 % | 42.17 | 320.3 % |
| 2022 | 641.28 | 79.4 % | 96.45 | 245.2 % | 76.20 | 377.4 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2022 | 36.25 | 293.0 % | 5.52 | - | 36.25 | 5.52 |
| H2 2022 | 48.85 | 331.7 % | 7.44 | - | 48.85 | 7.44 |
| 2022 | 85.10 | 314.3 % | 12.95 | - | 85.10 | 12.95 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2022 | 12.47 % | 10.42 % | 10.05 % |
| H2 2022 | 15.04 % | 13.15 % | 13.27 % |
| 2022 | 15.04 % | 13.15 % | 13.27 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2022 | 6.57 | 7.24 | 7.24 | 15.58 |
| H2 2022 | 6.57 | 12.95 | 12.95 | 20.88 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2022 | - | - | - |
| H2 2022 | - | - | - |
Business Segments (Million)
2022
| Period | Finish goods sales | Fodder sales | Chick sales (chicken chicks) |
|---|
| Current | |
| Market Cap (M Riyal) | 2,628.00 |
| Enterprise Value (EV) (M) | 2,537.19 |
| Shares Outstanding ((M)) | 6.57 |
| Book Value (BV) ( Riyal) | 32.00 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 26.04 |
| Price/book | 12.50 |
Share Price
Balady Poultry Trading Co. (BALADY)
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