Financial Results : Development Works For Food posts 7% profit growth in 2019

Development Works For Food posts 7% profit growth in 2019

31/03/2020 Argaam Exclusive

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Development Works For Food Co. reported net profit after Zakat and tax of SAR 8.3 million for FY2019, up by 7% year-on-year (YoY), driven by higher sales revenue.

 

Operating profit jumped by 16.87% YoY to SAR 6.6 million in FY19.



Financials (M)

Item 2018 2019 Change‬
Revenues 108.66 96.27 (11.4 %)
Gross Income 14.94 19.45 30.2 %
Operating Income 5.69 9.65 69.5 %
Net Income 7.74 8.63 11.5 %
Average Shares 3.00 3.00 -
EPS (Riyals) 2.58 2.88 11.5 %

Q4 2019 earnings leveled up by 52% YoY to SAR 2.1 million.




Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2010 - - - - - -
H2 2010 - - - - - -
H1 2011 - - - - - -
H2 2011 - - - - - -
H1 2012 - - - - - -
H2 2012 - - - - - -
H1 2013 - - - - - -
H2 2013 - - - - - -
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 10.18 - 5.22 - 1.65 -
H2 2016 5.19 - (6.82) - (6.82) -
H1 2017 20.46 101.1 % 4.54 (13.0 %) 2.79 68.7 %
H2 2017 28.43 447.7 % 4.20 161.6 % 1.68 124.6 %
H1 2018 31.16 52.3 % 4.56 0.4 % 2.86 2.5 %
H2 2018 26.11 (8.1 %) 2.20 (47.7 %) (1.00) (159.7 %)
H1 2019 39.94 28.2 % 6.70 46.8 % 2.26 (21.0 %)
H2 2019 - - - - 3.89 487.7 %
2019 96.27 (11.4 %) 19.45 30.2 % 9.65 69.5 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2010 - - - - - -
H2 2010 - - - - - -
H1 2011 - - - - - -
H2 2011 - - - - - -
H1 2012 - - - - - -
H2 2012 - - - - - -
H1 2013 - - - - - -
H2 2013 - - - - - -
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 1.60 - 0.53 - 1.60 0.53
H2 2016 (6.86) - (2.29) - (6.86) (2.29)
H1 2017 2.63 64.4 % 0.88 - 2.63 0.88
H2 2017 1.97 128.7 % 0.66 - 1.97 0.66
H1 2018 2.69 2.4 % 0.90 - 2.69 0.90
H2 2018 1.40 (28.8 %) 0.47 - 1.40 0.47
H1 2019 2.24 (16.6 %) 0.75 - 2.24 0.75
H2 2019 2.47 75.6 % 0.82 - 2.47 0.82
2019 8.63 11.5 % 2.88 - 8.63 2.88

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2010 - - -
H2 2010 - - -
H1 2011 - - -
H2 2011 - - -
H1 2012 - - -
H2 2012 - - -
H1 2013 - - -
H2 2013 - - -
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 22.79 % (2.71 %) (7.62 %)
H1 2017 19.92 % 1.37 % (2.82 %)
H2 2017 22.90 % 13.73 % 9.57 %
H1 2018 15.43 % 12.63 % 8.06 %
H2 2018 13.71 % 10.99 % 7.12 %
H1 2019 14.74 % 9.82 % 5.91 %
H2 2019 - - -
2019 20.20 % 32.49 % 8.96 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2010 - - - -
H2 2010 - - - -
H1 2011 - - - -
H2 2011 - - - -
H1 2012 - - - -
H2 2012 - - - -
H1 2013 - - - -
H2 2013 - - - -
H1 2014 - - - -
H2 2014 - - - -
H1 2015 - - - -
H2 2015 - - - -
H1 2016 3.00 - - 5.11
H2 2016 3.00 (0.89) (0.89) 4.84
H1 2017 3.00 (0.48) (0.48) 5.90
H2 2017 3.00 2.63 2.63 7.16
H1 2018 3.00 2.75 2.75 8.51
H2 2018 3.00 2.58 2.58 10.10
H1 2019 3.00 2.47 2.47 11.33
H2 2019 3.00 2.88 2.88 12.97

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2010 - - -
H2 2010 - - -
H1 2011 - - -
H2 2011 - - -
H1 2012 - - -
H2 2012 - - -
H1 2013 - - -
H2 2013 - - -
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 NEG NEG 5.47
H2 2017 11.05 11.05 4.06
H1 2018 10.92 10.92 3.53
H2 2018 10.66 10.66 2.72
H1 2019 15.17 15.17 3.31
H2 2019 22.86 22.86 5.07


Financial Ratios
Current
Market Cap (M Riyal) 398.40
Enterprise Value (EV) (M) 407.80
Shares Outstanding ((M)) 3.00
Book Value (BV) ( Riyal) 8.32
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
Price/book 15.96
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Share Price

Development Works Food Co.
133.20
2.40 1.83 %

Development Works Food Co. (DWF)

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