Almunajem Foods Co. reported a net profit after Zakat and tax of SAR 97.6 million for Q1 2022, a rise of more than three-fold from SAR 29.5 million in the prior-year period.
The rise in profit was attributed to a 25.5% increase in revenues to SAR 788 million, coupled with a 77.8% surge in gross profit on the back of improved profit margins of most product categories thanks to enhanced trade conditions during the period.
This was despite an 11.7% hike in operating expenses during the three-month period versus Q1 2021, as a result of increased marketing and promotional activities. Zakat expenses also rose 49% to stand at SAR 5.3 million due to an increase in Zakat base.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 628.06 | 788.01 | 25.5 % |
| Gross Income | 97.44 | 172.53 | 77.1 % |
| Operating Income | 33.21 | 101.18 | 204.7 % |
| Net Income | 29.47 | 97.56 | 231.1 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.49 | 1.63 | 231.1 % |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 679.50 | 788.01 | 16.0 % |
| Gross Income | 115.34 | 172.53 | 49.6 % |
| Operating Income | 49.12 | 101.18 | 106.0 % |
| Net Income | 45.98 | 97.56 | 112.2 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.77 | 1.63 | 112.2 % |
On a sequential basis, Q1 2022 net profit leapt 112.3% from SAR 46 million.
Total shareholders' equity, after minority interest, at the end of the period amounted to SAR 902.6 million, compared to SAR 669.9 million in Q1 2021.
| Period | Revenues | Change | Gross Income | Change | Net Income | Change | EPS(Riyal) |
|---|---|---|---|---|---|---|---|
| Q1 2013 | - | - | - | - | - | - | - |
| Q2 2013 | - | - | - | - | - | - | - |
| Q3 2013 | - | - | - | - | - | - | - |
| Q4 2013 | - | - | - | - | - | - | - |
| 2013 | - | - | - | - | - | - | - |
| Q1 2014 | - | - | - | - | - | - | - |
| Q2 2014 | - | - | - | - | - | - | - |
| Q3 2014 | - | - | - | - | - | - | - |
| Q4 2014 | - | - | - | - | - | - | - |
| 2014 | - | - | - | - | - | - | - |
| Q1 2015 | - | - | - | - | - | - | - |
| Q2 2015 | - | - | - | - | - | - | - |
| Q3 2015 | - | - | - | - | - | - | - |
| Q4 2015 | - | - | - | - | - | - | - |
| 2015 | - | - | - | - | - | - | - |
| Q1 2016 | - | - | - | - | - | - | - |
| Q2 2016 | - | - | - | - | - | - | - |
| Q3 2016 | - | - | - | - | - | - | - |
| Q4 2016 | - | - | - | - | - | - | - |
| 2016 | - | - | - | - | - | - | - |
| Q1 2017 | - | - | - | - | - | - | - |
| Q2 2017 | - | - | - | - | - | - | - |
| Q3 2017 | - | - | - | - | - | - | - |
| Q4 2017 | - | - | - | - | - | - | - |
| 2017 | 2,482.24 | - | 383.93 | - | 163.25 | - | 2.72 |
| Q1 2018 | - | - | - | - | - | - | - |
| Q2 2018 | - | - | - | - | - | - | - |
| Q3 2018 | - | - | - | - | - | - | - |
| Q4 2018 | - | - | - | - | - | - | - |
| 2018 | 2,497.35 | 0.6 % | 411.87 | 7.3 % | 149.48 | (8.4 %) | 2.49 |
| Q1 2019 | - | - | - | - | - | - | - |
| Q2 2019 | - | - | - | - | - | - | - |
| Q3 2019 | - | - | - | - | - | - | - |
| Q4 2019 | - | - | - | - | - | - | - |
| 2019 | 2,419.06 | (3.1 %) | 334.65 | (18.7 %) | 109.17 | (27.0 %) | 1.82 |
| Q1 2020 | 687.58 | - | 138.11 | - | 75.67 | - | 1.26 |
| Q2 2020 | 602.41 | - | 126.89 | - | 59.42 | - | 0.99 |
| Q3 2020 | 626.38 | - | 122.27 | - | 66.80 | - | 1.11 |
| Q4 2020 | 622.09 | - | 100.28 | - | 27.79 | - | 0.46 |
| 2020 | 2,538.45 | 4.9 % | 487.55 | 45.7 % | 229.68 | 110.4 % | 3.83 |
| Q1 2021 | 628.06 | (8.7 %) | 97.44 | (29.5 %) | 29.47 | (61.1 %) | 0.49 |
| Q2 2021 | 614.48 | 2.0 % | 109.00 | (14.1 %) | 37.99 | (36.1 %) | 0.63 |
| Q3 2021 | 654.99 | 4.6 % | 119.60 | (2.2 %) | 52.66 | (21.2 %) | 0.88 |
| Q4 2021 | 679.50 | 9.2 % | 115.34 | 15.0 % | 45.98 | 65.5 % | 0.77 |
| 2021 | 2,577.02 | 1.5 % | 441.37 | (9.5 %) | 166.09 | (27.7 %) | 2.77 |
| Q1 2022 | 788.01 | 25.5 % | 172.53 | 77.1 % | 97.56 | 231.1 % | 1.63 |
| Period | Revenues | Change | Gross Income | Change | Net Income | Change | EPS(Riyal) |
|---|---|---|---|---|---|---|---|
| 2012 | - | - | - | - | - | - | - |
| 2013 | - | - | - | - | - | - | - |
| 2014 | - | - | - | - | - | - | - |
| 2015 | - | - | - | - | - | - | - |
| 2016 | - | - | - | - | - | - | - |
| 2017 | 2,482.24 | - | 383.93 | - | 163.25 | - | 2.72 |
| 2018 | 2,497.35 | 0.6 % | 411.87 | 7.3 % | 149.48 | (8.4 %) | 2.49 |
| 2019 | 2,419.06 | (3.1 %) | 334.65 | (18.7 %) | 109.17 | (27.0 %) | 1.82 |
| 2020 | 2,538.45 | 4.9 % | 487.55 | 45.7 % | 229.68 | 110.4 % | 3.83 |
| 2021 | 2,577.02 | 1.5 % | 441.37 | (9.5 %) | 166.09 | (27.7 %) | 2.77 |
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2013 | - | - | - |
| Q2 2013 | - | - | - |
| Q3 2013 | - | - | - |
| Q4 2013 | - | - | - |
| 2013 | - | - | - |
| Q1 2014 | - | - | - |
| Q2 2014 | - | - | - |
| Q3 2014 | - | - | - |
| Q4 2014 | - | - | - |
| 2014 | - | - | - |
| Q1 2015 | - | - | - |
| Q2 2015 | - | - | - |
| Q3 2015 | - | - | - |
| Q4 2015 | - | - | - |
| 2015 | - | - | - |
| Q1 2016 | - | - | - |
| Q2 2016 | - | - | - |
| Q3 2016 | - | - | - |
| Q4 2016 | - | - | - |
| 2016 | - | - | - |
| Q1 2017 | - | - | - |
| Q2 2017 | - | - | - |
| Q3 2017 | - | - | - |
| Q4 2017 | - | - | - |
| 2017 | 15.47 % | 7.62 % | 6.58 % |
| Q1 2018 | - | - | - |
| Q2 2018 | - | - | - |
| Q3 2018 | - | - | - |
| Q4 2018 | - | - | - |
| 2018 | 16.49 % | 8.49 % | 6.93 % |
| Q1 2019 | - | - | - |
| Q2 2019 | - | - | - |
| Q3 2019 | - | - | - |
| Q4 2019 | - | - | - |
| 2019 | 13.83 % | 5.71 % | 4.00 % |
| Q1 2020 | - | - | - |
| Q2 2020 | - | - | - |
| Q3 2020 | - | - | - |
| Q4 2020 | 19.21 % | 10.55 % | 8.64 % |
| 2020 | 19.21 % | 10.55 % | 8.64 % |
| Q1 2021 | 18.03 % | 9.02 % | 6.99 % |
| Q2 2021 | 17.22 % | 8.14 % | 6.09 % |
| Q3 2021 | 16.92 % | 7.82 % | 5.87 % |
| Q4 2021 | 17.13 % | 8.34 % | 6.45 % |
| 2021 | 17.13 % | 8.34 % | 6.45 % |
| Q1 2022 | 18.87 % | 10.35 % | 8.56 % |
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| 2012 | - | - | - |
| 2013 | - | - | - |
| 2014 | - | - | - |
| 2015 | - | - | - |
| 2016 | - | - | - |
| 2017 | 15.47 % | 7.62 % | 6.58 % |
| 2018 | 16.49 % | 8.49 % | 6.93 % |
| 2019 | 13.83 % | 5.71 % | 4.00 % |
| 2020 | 19.21 % | 10.55 % | 8.64 % |
| 2021 | 17.13 % | 8.34 % | 6.45 % |
| 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 | 20.09 % | 12.60 % | 11.00 % |
| Q2 2020 | 21.06 % | 11.76 % | 9.86 % |
| Q3 2020 | 19.52 % | 11.21 % | 9.03 % |
| Q4 2020 | 16.12 % | 6.46 % | 4.47 % |
| Q1 2021 | 15.51 % | 6.73 % | 4.69 % |
| Q2 2021 | 17.74 % | 8.17 % | 6.18 % |
| Q3 2021 | 18.26 % | 9.81 % | 8.04 % |
| Q4 2021 | 16.97 % | 8.57 % | 6.77 % |
| Q1 2022 | 21.89 % | 14.04 % | 12.38 % |
| 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 | 60.00 | - | - | 8.99 |
| Q2 2020 | 60.00 | - | - | 8.76 |
| Q3 2020 | 60.00 | - | - | 8.41 |
| Q4 2020 | 60.00 | 3.83 | 3.66 | 10.67 |
| Q1 2021 | 60.00 | 3.06 | 2.89 | 11.17 |
| Q2 2021 | 60.00 | 2.70 | 2.53 | 11.80 |
| Q3 2021 | 60.00 | 2.47 | 2.47 | 12.68 |
| Q4 2021 | 60.00 | 2.77 | 2.77 | 13.41 |
| Q1 2022 | 60.00 | 3.90 | 3.90 | 15.04 |
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| 2012 | - | - | - | - |
| 2013 | - | - | - | - |
| 2014 | - | - | - | - |
| 2015 | - | - | - | - |
| 2016 | - | - | - | - |
| 2017 | 60.00 | 2.72 | 2.72 | 8.88 |
| 2018 | 60.00 | 2.49 | 2.88 | 7.97 |
| 2019 | 60.00 | 1.82 | 1.61 | 7.73 |
| 2020 | 60.00 | 3.83 | 3.66 | 10.67 |
| 2021 | 60.00 | 2.77 | 2.77 | 13.41 |
| 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 | 20.99 | 20.99 | 4.33 |
| Q1 2022 | 15.63 | 15.63 | 4.06 |
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| 2012 | - | - | - |
| 2013 | - | - | - |
| 2014 | - | - | - |
| 2015 | - | - | - |
| 2016 | - | - | - |
| 2017 | - | - | - |
| 2018 | - | - | - |
| 2019 | - | - | - |
| 2020 | - | - | - |
| 2021 | 20.99 | 20.99 | 4.33 |
Q1 2022
2022
| Period | Wholesale goods-in-transit& food services | Retail goods-in-transit | Storage rent revenue |
|---|---|---|---|
| Q1 2020 | 401.89 | 284.09 | 1.60 |
| Q2 2020 | 304.78 | 295.59 | 2.04 |
| Q3 2020 | 384.57 | 239.88 | 1.93 |
| Q4 2020 | 392.00 | 228.55 | 1.54 |
| Q1 2021 | 348.08 | 278.34 | 1.63 |
| Q2 2021 | 378.14 | 234.31 | 2.04 |
| Q3 2021 | 421.05 | 231.70 | 2.24 |
| Q4 2021 | 442.62 | 234.47 | 2.40 |
| Q1 2022 | 458.20 | 326.49 | 3.32 |
| Period | Wholesale goods-in-transit& food services | Retail goods-in-transit | Storage rent revenue |
|---|---|---|---|
| 2019 | 1,543.80 | 867.45 | 7.81 |
| 2020 | 1,483.24 | 1,048.11 | 7.10 |
| 2021 | 1,589.88 | 978.83 | 8.31 |
| Current | |
| Market Cap (M Riyal) | 6,408.00 |
| Enterprise Value (EV) (M) | 6,226.39 |
| Shares Outstanding ((M)) | 60.00 |
| EPS ( Riyal) (TTM) | 5.24 |
| Book Value (BV) ( Riyal) | 17.36 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 20.39 |
| P/E (TTM) | 20.39 |
| Price/book | 6.15 |
| Return on Average Assets (%) (TTM) | 18.6 |
| Return on Average Equity (%) (TTM) | 31.1 |
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