Savola’s Q1 2024 profit dips 11% to SAR 348.7M

07/05/2024 Argaam Exclusive

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Savola Group posted a net profit drop of 11% to SAR 348.7 million in the first quarter of 2024, compared to SAR 392.8 million in the prior-year period.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2023	Q1 2024	Change‬
Revenues	7,814.49	7,781.87	(0.4 %)
Gross Income	1,502.03	1,618.73	7.8 %
Operating Income	513.81	610.55	18.8 %
Net Income	392.75	348.71	(11.2 %)
Average Shares	911.17	911.17	-
EPS (Riyals)	0.43	0.38	(11.2 %)

Item	Q4 2023	Q1 2024	Change‬
Revenues	6,559.64	7,781.87	18.6 %
Gross Income	1,383.86	1,618.73	17.0 %
Operating Income	385.66	610.55	58.3 %
Net Income	227.05	348.71	53.6 %
Average Shares	911.17	911.17	-
EPS (Riyals)	0.25	0.38	53.6 %

Net profit of the food processing segment in Q1 2024 declined to SAR 205 million, compared with SAR 258 million a year earlier. The segment's performance was impacted by foreign exchange losses of SAR 109 million upon devaluation of the Egyptian pound during Q1 2024.

The company also cited the impact of one-offs recorded in Q1 2023 that comprised capital gain of SAR 18.5 million on the disposal of investment in Savola Morocco Co., as well as the refund of custom duty from regulatory authority in Saudi Arabia, with a net impact of SAR 23.3 million.

The profit decline was also due to lower share of profits from associates, as well as higher operating expenses, in addition to higher net finance cost by SAR 83 million, primarily due to impact of the Egyptian pound devaluation in Q1 2024, and an increase in prevailing interest rates.

This was despite the improvement in the retail segment's performance, as it turned to a net profit of SAR 33 million in Q1 2024 from a net loss of SAR 14 million in Q1 2023 due to ongoing investment in the CXR program.

Sequentially, the Saudi-listed firm’s profit jumped 53.6% from SAR 227.05 million in Q4 2023, mainly due to higher revenues from the food, retail, and frozen food segments.

Total shareholders' equity, excluding minority interest, reached SAR 8.47 billion as of June 30, 2024, compared to SAR 8.49 billion in the prior-year period.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2015	6,223.71	(0.3 %)	1,159.16	6.1 %	227.93	(23.3 %)
Q2 2015	7,036.49	(4.1 %)	1,353.24	8.1 %	326.05	(19.0 %)
Q3 2015	5,603.56	(8.9 %)	1,238.87	7.7 %	245.60	(32.3 %)
Q4 2015	6,261.83	(8.7 %)	1,274.13	(6.9 %)	189.68	(54.3 %)
2015	25,125.60	(5.5 %)	5,025.39	3.3 %	989.26	(33.0 %)
Q1 2016	6,421.75	3.2 %	1,273.15	9.8 %	242.12	6.2 %
Q2 2016	7,140.78	1.5 %	1,332.79	(1.5 %)	217.40	(33.3 %)
Q3 2016	6,154.31	9.8 %	1,182.55	(4.5 %)	113.77	(53.7 %)
Q4 2016	6,613.95	5.6 %	864.48	(32.2 %)	(228.79)	(220.6 %)
2016	26,330.80	4.8 %	4,652.96	(7.4 %)	344.50	(65.2 %)
Q1 2017	5,786.91	(9.9 %)	1,040.13	(18.3 %)	18.06	(92.5 %)
Q2 2017	6,653.26	(6.8 %)	1,140.04	(14.5 %)	74.96	(65.5 %)
Q3 2017	5,595.78	(9.1 %)	1,053.79	(10.9 %)	25.93	(77.2 %)
Q4 2017	5,794.53	(12.4 %)	1,160.16	34.2 %	154.73	167.6 %
2017	23,830.48	(9.5 %)	4,394.12	(5.6 %)	272.89	(20.8 %)
Q1 2018	5,107.98	(11.7 %)	908.50	(12.7 %)	(54.78)	(403.3 %)
Q2 2018	6,147.58	(7.6 %)	1,066.86	(6.4 %)	0.33	(99.6 %)
Q3 2018	5,212.03	(6.9 %)	932.00	(11.6 %)	(36.92)	(242.4 %)
Q4 2018	5,346.97	(7.7 %)	990.60	(14.6 %)	(6.51)	(104.2 %)
2018	21,814.56	(8.5 %)	3,897.96	(11.3 %)	(97.87)	(135.9 %)
Q1 2019	5,387.89	5.5 %	1,065.47	17.3 %	91.74	267.5 %
Q2 2019	5,812.70	(5.4 %)	1,163.16	9.0 %	154.71	46925.2 %
Q3 2019	5,148.13	(1.2 %)	1,084.18	16.3 %	211.60	673.2 %
Q4 2019	5,231.73	(2.2 %)	1,191.50	20.3 %	211.54	3351.0 %
2019	21,406.42	(1.9 %)	4,504.30	15.6 %	669.60	784.2 %
Q1 2020	5,922.88	9.9 %	1,223.00	14.8 %	273.38	198.0 %
Q2 2020	6,007.08	3.3 %	1,278.68	9.9 %	363.61	135.0 %
Q3 2020	4,587.28	(10.9 %)	1,064.43	(1.8 %)	214.56	1.4 %
Q4 2020	5,184.71	(0.9 %)	1,074.27	(9.8 %)	105.12	(50.3 %)
2020	21,701.94	1.4 %	4,640.38	3.0 %	956.68	42.9 %
Q1 2021	5,953.57	0.5 %	1,211.63	(0.9 %)	244.24	(10.7 %)
Q2 2021	5,900.96	(1.8 %)	1,117.62	(12.6 %)	242.53	(33.3 %)
Q3 2021	6,048.46	31.9 %	1,023.66	(3.8 %)	152.76	(28.8 %)
Q4 2021	6,755.27	30.3 %	1,127.80	5.0 %	241.57	129.8 %
2021	24,669.16	13.7 %	4,478.71	(3.5 %)	881.10	(7.9 %)
Q1 2022	7,489.35	25.8 %	1,285.41	6.1 %	324.26	32.8 %
Q2 2022	6,888.31	16.7 %	1,247.66	11.6 %	298.85	23.2 %
Q3 2022	7,072.41	16.9 %	1,148.92	12.2 %	242.92	59.0 %
Q4 2022	6,604.64	(2.2 %)	1,192.09	5.7 %	76.11	(68.5 %)
2022	28,054.70	13.7 %	4,874.08	8.8 %	942.13	6.9 %
Q1 2023	7,814.49	4.3 %	1,502.03	16.9 %	513.81	58.5 %
Q2 2023	6,093.29	(11.5 %)	1,246.96	(0.1 %)	260.09	(13.0 %)
Q3 2023	6,350.90	(10.2 %)	1,310.49	14.1 %	341.14	40.4 %
Q4 2023	6,559.64	(0.7 %)	1,383.86	16.1 %	385.66	406.7 %
2023	26,818.32	(4.4 %)	5,443.34	11.7 %	1,500.71	59.3 %
Q1 2024	7,781.87	(0.4 %)	1,618.73	7.8 %	610.55	18.8 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	26,587.84	5.2 %	4,863.72	1.9 %	1,477.10	(14.6 %)
2015	25,125.60	(5.5 %)	5,025.39	3.3 %	989.26	(33.0 %)
2016	26,330.80	4.8 %	4,652.96	(7.4 %)	344.50	(65.2 %)
2017	23,830.48	(9.5 %)	4,394.12	(5.6 %)	272.89	(20.8 %)
2018	21,814.56	(8.5 %)	3,897.96	(11.3 %)	(97.87)	(135.9 %)
2019	21,406.42	(1.9 %)	4,504.30	15.6 %	669.60	784.2 %
2020	21,701.94	1.4 %	4,640.38	3.0 %	956.68	42.9 %
2021	24,669.16	13.7 %	4,478.71	(3.5 %)	881.10	(7.9 %)
2022	28,054.70	13.7 %	4,874.08	8.8 %	942.13	6.9 %
2023	26,818.32	(4.4 %)	5,443.34	11.7 %	1,500.71	59.3 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2015	470.51	11.2 %	0.52	227.39	243.12	0.27
Q2 2015	434.37	(15.4 %)	0.48	(0.67)	435.03	0.48
Q3 2015	371.56	(47.0 %)	0.41	5.72	365.84	0.40
Q4 2015	515.32	18.6 %	0.57	199.19	316.13	0.35
2015	1,791.75	(13.5 %)	1.97	431.63	1,360.11	1.49
Q1 2016	119.38	(74.6 %)	0.13	(107.31)	226.69	0.25
Q2 2016	253.52	(41.6 %)	0.28	(42.26)	295.78	0.32
Q3 2016	179.51	(51.7 %)	0.20	(3.13)	182.64	0.20
Q4 2016	(915.70)	(277.7 %)	(1.00)	(597.46)	(318.23)	(0.35)
2016	(363.29)	(120.3 %)	(0.40)	(750.15)	386.87	0.42
Q1 2017	4.78	(96.0 %)	0.01	15.61	(10.83)	(0.01)
Q2 2017	229.31	(9.5 %)	0.25	68.14	161.17	0.18
Q3 2017	829.04	361.8 %	0.91	693.94	135.10	0.15
Q4 2017	(37.51)	95.9 %	(0.04)	(222.02)	184.51	0.20
2017	1,025.62	382.3 %	1.13	555.67	469.95	0.52
Q1 2018	(84.32)	(1864.7 %)	(0.09)	3.27	(87.58)	(0.10)
Q2 2018	140.65	(38.7 %)	0.15	-	140.65	0.15
Q3 2018	(50.73)	(106.1 %)	(0.06)	-	(50.73)	(0.06)
Q4 2018	(525.99)	(1,302.2 %)	(0.58)	(300.29)	(225.70)	(0.25)
2018	(520.38)	(150.7 %)	(0.57)	(297.02)	(223.36)	(0.25)
Q1 2019	6.33	107.5 %	0.01	42.71	(36.38)	(0.04)
Q2 2019	110.23	(21.6 %)	0.12	7.56	102.67	0.11
Q3 2019	221.76	537.2 %	0.24	21.17	200.59	0.22
Q4 2019	137.31	126.1 %	0.15	66.84	70.48	0.08
2019	475.63	191.4 %	0.52	138.28	337.36	0.37
Q1 2020	172.76	2629.1 %	0.19	-	172.76	0.19
Q2 2020	409.58	271.6 %	0.45	-	409.58	0.45
Q3 2020	283.74	28.0 %	0.31	21.00	262.74	0.29
Q4 2020	44.73	(67.4 %)	0.05	-	44.73	0.05
2020	910.80	91.5 %	1.00	21.00	889.80	0.98
Q1 2021	153.83	(11.0 %)	0.17	-	153.83	0.17
Q2 2021	200.02	(51.2 %)	0.22	-	200.02	0.22
Q3 2021	122.40	(56.9 %)	0.13	-	122.40	0.13
Q4 2021	(254.36)	(668.7 %)	(0.28)	(421.87)	167.50	0.18
2021	221.88	(75.6 %)	0.24	(421.87)	643.75	0.71
Q1 2022	270.89	76.1 %	0.30	-	270.89	0.30
Q2 2022	213.75	6.9 %	0.23	-	213.75	0.23
Q3 2022	163.64	33.7 %	0.18	-	163.64	0.18
Q4 2022	94.47	137.1 %	0.10	107.03	(12.56)	(0.01)
2022	742.75	234.8 %	0.82	107.03	635.73	0.70
Q1 2023	392.75	45.0 %	0.43	41.78	350.97	0.39
Q2 2023	132.03	(38.2 %)	0.14	-	132.03	0.14
Q3 2023	147.36	(9.9 %)	0.16	-	147.36	0.16
Q4 2023	227.05	140.3 %	0.25	112.13	114.92	0.13
2023	899.19	21.1 %	0.99	153.91	745.28	0.82
Q1 2024	348.71	(11.2 %)	0.38	-	348.71	0.38

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	2,072.32	21.6 %	2.27	192.59	1,879.73	2.06
2015	1,791.75	(13.5 %)	1.97	431.63	1,360.11	1.49
2016	(363.29)	(120.3 %)	(0.40)	(750.15)	386.87	0.42
2017	1,025.62	382.3 %	1.13	555.67	469.95	0.52
2018	(520.38)	(150.7 %)	(0.57)	(297.02)	(223.36)	(0.25)
2019	475.63	191.4 %	0.52	138.28	337.36	0.37
2020	910.80	91.5 %	1.00	21.00	889.80	0.98
2021	221.88	(75.6 %)	0.24	(421.87)	643.75	0.71
2022	742.75	234.8 %	0.82	107.03	635.73	0.70
2023	899.19	21.1 %	0.99	153.91	745.28	0.82

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	18.55 %	7.64 %	6.42 %
Q2 2015	19.15 %	7.48 %	6.33 %
Q3 2015	19.90 %	7.24 %	5.96 %
Q4 2015	20.00 %	6.42 %	5.41 %
2015	20.00 %	6.42 %	5.41 %
Q1 2016	20.29 %	6.53 %	5.31 %
Q2 2016	20.13 %	6.32 %	4.74 %
Q3 2016	19.49 %	5.49 %	3.93 %
Q4 2016	17.67 %	4.04 %	1.47 %
2016	17.67 %	4.04 %	1.47 %
Q1 2017	17.20 %	3.34 %	0.58 %
Q2 2017	16.77 %	2.54 %	0.06 %
Q3 2017	16.63 %	2.63 %	(0.13 %)
Q4 2017	18.44 %	4.53 %	1.97 %
2017	18.44 %	4.52 %	1.97 %
Q1 2018	18.41 %	4.31 %	1.70 %
Q2 2018	18.50 %	4.33 %	1.65 %
Q3 2018	18.27 %	3.89 %	0.84 %
Q4 2018	17.87 %	3.05 %	(1.02 %)
2018	17.87 %	3.05 %	(1.02 %)
Q1 2019	18.35 %	4.18 %	(0.78 %)
Q2 2019	19.08 %	5.40 %	(0.97 %)
Q3 2019	19.84 %	7.10 %	0.19 %
Q4 2019	20.87 %	11.45 %	1.56 %
2019	21.04 %	8.74 %	1.58 %
Q1 2020	21.08 %	11.92 %	2.47 %
Q2 2020	21.41 %	12.70 %	3.83 %
Q3 2020	21.88 %	12.99 %	4.21 %
Q4 2020	21.38 %	9.58 %	4.10 %
2020	21.38 %	9.58 %	4.10 %
Q1 2021	21.30 %	9.36 %	4.01 %
Q2 2021	20.66 %	8.73 %	3.06 %
Q3 2021	19.18 %	7.81 %	2.26 %
Q4 2021	18.17 %	7.90 %	2.61 %
2021	18.16 %	7.89 %	2.61 %
Q1 2022	17.39 %	7.67 %	2.90 %
Q2 2022	17.23 %	7.57 %	2.85 %
Q3 2022	17.05 %	7.64 %	2.89 %
Q4 2022	17.37 %	7.15 %	2.27 %
2022	17.37 %	7.15 %	2.27 %
Q1 2023	17.94 %	7.79 %	2.52 %
Q2 2023	18.45 %	7.92 %	2.30 %
Q3 2023	19.55 %	8.57 %	2.30 %
Q4 2023	20.30 %	9.78 %	2.78 %
2023	20.30 %	9.78 %	2.78 %
Q1 2024	20.76 %	10.20 %	2.77 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	18.29 %	7.92 %	7.07 %
2015	20.00 %	6.42 %	5.41 %
2016	17.67 %	4.04 %	1.47 %
2017	18.44 %	4.52 %	1.97 %
2018	17.87 %	3.05 %	(1.02 %)
2019	21.04 %	8.74 %	1.58 %
2020	21.38 %	9.58 %	4.10 %
2021	18.16 %	7.89 %	2.61 %
2022	17.37 %	7.15 %	2.27 %
2023	20.30 %	9.78 %	2.78 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	18.62 %	6.03 %	3.91 %
Q2 2015	19.23 %	6.93 %	6.18 %
Q3 2015	22.11 %	7.65 %	6.53 %
Q4 2015	20.35 %	5.14 %	5.05 %
Q1 2016	19.83 %	6.48 %	3.53 %
Q2 2016	18.66 %	6.18 %	4.14 %
Q3 2016	19.21 %	4.03 %	2.97 %
Q4 2016	13.07 %	(0.63 %)	(4.81 %)
Q1 2017	17.97 %	3.65 %	(0.19 %)
Q2 2017	17.14 %	3.34 %	2.42 %
Q3 2017	18.83 %	4.61 %	2.41 %
Q4 2017	20.02 %	6.69 %	3.18 %
Q1 2018	17.79 %	2.57 %	(1.71 %)
Q2 2018	17.35 %	3.30 %	2.29 %
Q3 2018	17.88 %	2.76 %	(0.97 %)
Q4 2018	18.53 %	3.49 %	(4.22 %)
Q1 2019	19.78 %	7.25 %	(0.68 %)
Q2 2019	20.01 %	7.82 %	1.77 %
Q3 2019	21.06 %	9.87 %	3.90 %
Q4 2019	22.77 %	21.34 %	1.35 %
Q1 2020	20.65 %	9.42 %	2.92 %
Q2 2020	21.29 %	10.85 %	6.82 %
Q3 2020	23.20 %	10.91 %	5.73 %
Q4 2020	20.72 %	7.11 %	0.86 %
Q1 2021	20.35 %	8.61 %	2.58 %
Q2 2021	18.94 %	8.57 %	3.39 %
Q3 2021	16.92 %	6.86 %	2.02 %
Q4 2021	16.70 %	7.60 %	2.48 %
Q1 2022	17.16 %	7.69 %	3.62 %
Q2 2022	18.11 %	8.04 %	3.10 %
Q3 2022	16.25 %	7.22 %	2.31 %
Q4 2022	18.05 %	5.52 %	(0.19 %)
Q1 2023	19.22 %	10.01 %	4.49 %
Q2 2023	20.46 %	8.65 %	2.17 %
Q3 2023	20.63 %	9.89 %	2.32 %
Q4 2023	21.10 %	10.46 %	1.75 %
Q1 2024	20.80 %	11.45 %	4.48 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2015	911.17	2.33	1.87	11.09
Q2 2015	911.17	2.24	1.82	11.50
Q3 2015	911.17	1.88	1.68	11.28
Q4 2015	911.17	1.97	1.49	11.58
Q1 2016	911.17	1.58	1.47	10.80
Q2 2016	911.17	1.38	1.32	10.88
Q3 2016	911.17	1.17	1.12	10.84
Q4 2016	911.17	(0.40)	0.42	9.02
Q1 2017	911.17	(0.52)	0.16	9.02
Q2 2017	911.17	(0.55)	0.02	9.24
Q3 2017	911.17	0.16	(0.04)	10.09
Q4 2017	911.17	1.13	0.52	9.69
Q1 2018	911.17	1.03	0.43	9.43
Q2 2018	911.17	0.93	0.41	9.02
Q3 2018	911.17	(0.04)	0.21	8.38
Q4 2018	911.17	(0.57)	(0.25)	7.82
Q1 2019	911.17	(0.47)	(0.19)	7.84
Q2 2019	911.17	(0.51)	(0.23)	7.94
Q3 2019	911.17	(0.21)	0.05	8.18
Q4 2019	911.17	0.52	0.37	8.33
Q1 2020	911.17	0.70	0.60	8.35
Q2 2020	911.17	1.03	0.94	8.48
Q3 2020	911.17	1.10	1.00	8.96
Q4 2020	911.17	1.00	0.98	9.03
Q1 2021	911.17	0.98	0.96	9.34
Q2 2021	911.17	0.75	0.73	9.26
Q3 2021	911.17	0.57	0.57	9.25
Q4 2021	911.17	0.24	0.71	8.87
Q1 2022	911.17	0.37	0.83	8.98
Q2 2022	911.17	0.39	0.85	9.06
Q3 2022	911.17	0.43	0.90	9.22
Q4 2022	911.17	0.82	0.70	9.06
Q1 2023	911.17	0.95	0.79	9.32
Q2 2023	911.17	0.86	0.70	9.00
Q3 2023	911.17	0.84	0.68	9.12
Q4 2023	911.17	0.99	0.82	9.28
Q1 2024	911.17	0.94	0.82	9.30

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	911.17	2.27	2.06	10.94
2015	911.17	1.97	1.49	11.58
2016	911.17	(0.40)	0.42	9.02
2017	911.17	1.13	0.52	9.69
2018	911.17	(0.57)	(0.25)	7.82
2019	911.17	0.52	0.37	8.33
2020	911.17	1.00	0.98	9.03
2021	911.17	0.24	0.71	8.87
2022	911.17	0.82	0.70	9.06
2023	911.17	0.99	0.82	9.28

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2015	21.45	26.67	4.50
Q2 2015	22.32	27.39	4.35
Q3 2015	22.54	25.16	3.75
Q4 2015	18.65	24.57	3.17
Q1 2016	19.27	20.66	2.82
Q2 2016	19.25	20.13	2.45
Q3 2016	19.86	20.76	2.15
Q4 2016	NEG	68.97	3.25
Q1 2017	NEG	More than 100	3.34
Q2 2017	NEG	More than 100	3.98
Q3 2017	More than 100	NEG	3.30
Q4 2017	25.61	55.89	2.97
Q1 2018	31.40	74.80	3.42
Q2 2018	29.22	66.48	3.02
Q3 2018	NEG	More than 100	2.63
Q4 2018	NEG	NEG	2.50
Q1 2019	NEG	NEG	2.91
Q2 2019	NEG	NEG	2.99
Q3 2019	NEG	More than 100	2.75
Q4 2019	48.03	67.72	3.01
Q1 2020	36.98	43.45	3.12
Q2 2020	29.74	32.81	3.63
Q3 2020	31.82	34.87	3.91
Q4 2020	31.03	31.77	3.43
Q1 2021	29.31	30.01	3.07
Q2 2021	42.06	43.40	3.40
Q3 2021	47.87	47.87	2.96
Q4 2021	95.77	33.01	2.63
Q1 2022	71.52	31.86	2.96
Q2 2022	63.36	28.85	2.71
Q3 2022	47.87	23.11	2.24
Q4 2022	24.58	28.72	2.21
Q1 2023	21.50	25.97	2.19
Q2 2023	35.38	43.69	3.38
Q3 2023	31.28	38.81	2.89
Q4 2023	27.70	33.42	2.95
Q1 2024	43.79	50.39	4.42

Period	P/E	Adjusted P/E	Price/book
2014	25.26	27.85	5.25
2015	18.65	24.57	3.17
2016	NEG	68.97	3.25
2017	25.61	55.89	2.97
2018	NEG	NEG	2.50
2019	48.03	67.72	3.01
2020	31.03	31.77	3.43
2021	95.77	33.01	2.63
2022	24.58	28.72	2.21
2023	27.70	33.42	2.95

Business Segments (Million)

Compared With The

Period	Food sector	Retail sector	Food services	Frozen food	Investments	Plastic	Manufacturing & Whole sale sector	Disposals
Q1 2015	3,086.66	3,192.49	-	-	14.69	-	-	(70.13)
Q2 2015	3,369.06	3,781.59	-	-	14.69	-	-	(128.85)
Q3 2015	2,553.93	3,091.95	-	-	14.69	-	-	(57.01)
Q4 2015	2,802.55	3,466.70	-	-	100.78	-	-	(108.20)
Q1 2016	2,924.81	3,271.22	283.55	-	13.75	-	-	(71.58)
Q2 2016	3,102.65	3,873.85	277.73	-	13.75	-	-	(127.20)
Q3 2016	2,717.25	3,174.73	315.17	-	13.75	-	-	(66.58)
Q4 2016	3,142.01	3,252.58	280.23	-	96.36	-	-	(157.23)
Q1 2017	2,954.09	2,674.10	275.01	-	11.54	-	-	(127.83)
Q2 2017	3,145.94	3,331.50	272.10	-	11.61	-	-	(107.89)
Q3 2017	2,698.83	2,653.43	311.72	-	11.61	-	-	(79.82)
Q4 2017	2,585.35	2,984.00	298.96	-	10.58	-	-	(84.36)
Q1 2018	2,571.71	2,377.14	286.30	-	11.41	-	-	(138.57)
Q2 2018	2,692.86	3,230.09	293.13	-	11.40	-	-	(79.90)
Q3 2018	2,309.97	2,643.85	322.65	-	11.29	-	-	(75.71)
Q4 2018	2,160.94	2,866.52	325.20	94.11	12.94	-	-	(112.73)
Q1 2019	2,408.41	2,670.53	313.40	128.90	10.99	-	-	(144.35)
Q2 2019	2,349.92	2,867.97	309.30	181.73	10.35	-	-	(80.60)
Q3 2019	2,184.53	2,559.15	339.08	142.48	10.60	-	-	(87.71)
Q4 2019	2,266.36	2,562.11	326.52	166.94	11.66	-	-	(101.86)
Q1 2020	2,475.72	3,098.78	296.93	191.76	10.80	-	-	(151.10)
Q2 2020	2,229.61	3,463.04	170.10	211.24	8.48	-	-	(75.40)
Q3 2020	1,652.91	2,526.87	311.12	180.67	9.24	-	-	(93.53)
Q4 2020	2,285.32	2,524.62	297.94	153.13	7.55	-	-	(83.84)
Q1 2021	2,905.73	2,719.56	310.10	174.98	7.17	-	-	(163.97)
Q2 2021	2,645.54	2,843.25	322.02	158.60	7.44	-	-	(75.90)
Q3 2021	3,094.32	2,532.15	352.59	148.94	6.69	-	-	(75.30)
Q4 2021	3,984.53	2,381.16	329.15	160.43	6.25	-	-	(106.26)
Q1 2022	4,327.59	2,805.63	328.20	184.38	7.38	-	-	(163.83)
Q2 2022	4,068.96	2,430.77	291.61	165.13	6.49	-	-	(74.66)
Q3 2022	4,300.08	2,407.17	309.52	153.25	6.59	-	-	(104.20)
Q4 2022	3,744.17	2,470.44	314.51	167.25	6.88	-	-	(98.60)
Q1 2023	4,397.97	3,117.87	275.13	211.43	9.02	-	-	(196.93)
Q2 2023	3,397.45	2,297.86	288.22	164.48	6.62	-	-	(61.35)
Q3 2023	3,516.30	2,479.27	313.04	161.19	7.05	-	-	(125.95)
Q4 2023	3,753.61	2,436.38	297.31	176.97	6.86	-	-	(111.50)
Q1 2024	4,251.30	3,217.66	289.04	230.21	8.44	-	-	(214.79)

Period	Food sector	Retail sector	Food services	Frozen food	Investments	Plastic	Manufacturing & Whole sale sector	Disposals
2014	14,591.95	12,204.38	-	-	127.17	-	-	(335.66)
2015	11,812.20	13,532.73	-	-	144.86	-	-	(364.20)
2016	11,886.72	13,572.38	1,156.68	-	137.61	-	-	(422.59)
2017	11,384.22	11,643.02	1,157.79	-	45.34	-	-	(399.90)
2018	9,735.47	11,117.60	1,227.27	94.11	47.04	-	-	(406.92)
2019	9,209.21	10,659.77	1,288.31	620.06	43.60	-	-	(414.52)
2020	8,643.56	11,613.30	1,076.08	736.80	36.08	-	-	(403.87)
2021	12,630.12	10,476.12	1,313.86	642.94	27.55	-	-	(421.43)
2022	16,440.80	10,114.01	1,243.84	670.01	27.34	-	-	(441.29)
2023	15,065.33	10,331.38	1,173.70	714.07	29.56	-	-	(495.72)

Analysts Estimates (Million)

Item	Q1 2024 (e)	Q1 2024 (a)	Change‬
Average	361.12	348.71	(3.4 %)

Estimates vs Actual (Million)

Item	Q1 2024 (e)	Q1 2024 (a)	Change
Al Rajhi Capital	364.00	348.71	(4.2) %
Goldman Sachs	400.49	348.71	(12.9) %
Hermes	413.00	348.71	(15.6) %
SNB Capital	267.00	348.71	30.6 %

Financial Ratios

	Current
Market Cap (M Riyal)	27,510.35
Enterprise Value (EV) (M)	28,742.45
Shares Outstanding ((M))	1,133.98
EPS ( Riyal) (TTM)	0.79
Book Value (BV) ( Riyal)	12.99
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	35.27
P/E (TTM)	30.84
Price/book	1.87
Return on Average Assets (%) (TTM)	2.8
Return on Average Equity (%) (TTM)	7.7

Savola Group (SAVOLA GROUP)

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Savola’s Q1 2024 profit dips 11% to SAR 348.7M

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Profitability

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Savola’s Q1 2024 profit dips 11% to SAR 348.7M

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Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q1 2024

Revenue by Business Segment (Latest) 2024 Q1

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Savola Group (SAVOLA GROUP)

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Business Segments (Million)