Financial Results : Development Works swings to SAR 4 mln losses in Q1 2020

Development Works swings to SAR 4 mln losses in Q1 2020

16/06/2020 Argaam Exclusive

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Development Works Food Co. reported net loss after Zakat and tax of SAR 4 million for the first quarter of 2020, versus net profit of SAR 1.45 million in year-earlier period, driven by a 15% slump in sales, higher rents as well as amortization expenses.

 

The company’s results were also impacted by the Kingdom's precautionary measures to curb the COVID-19 outbreak.

On a sequential basis, the Nomu-listed firm swung to losses in Q1 2020, versus net profit of SAR 2.14 million in Q4 2019.



Current Half Annual Comparison (M)

Compared With The
Item 2019 2020 Change‬
Revenues 30.76 26.26 (14.6 %)
Gross Income 4.73 (2.11) (144.7 %)
Operating Income 1.11 (3.97) (458.4 %)
Net Income 1.46 (3.92) (369.3 %)
Average Shares 3.00 3.00 -
EPS (Riyals) 0.49 (1.31) (369.3 %)


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) 397.20
Enterprise Value (EV) (M) 406.60
Shares Outstanding ((M)) 3.00
Book Value (BV) ( Riyal) 8.32
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
Price/book 15.92
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Share Price

Development Works Food Co.
133.00
2.20 1.68 %

Development Works Food Co. (DWF)

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