| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 7,072.4 | 6,048.5 | 16.93 | 6,888.3 | 2.67 |
| Gross Profit (Loss) | 1,148.9 | 1,023.7 | 12.23 | 1,247.7 | -7.92 |
| Operational Profit (Loss) | 420.7 | 301.8 | 39.4 | 503.6 | -16.46 |
| Net Profit (Loss) after Zakat and Tax | 163.6 | 122.4 | 33.66 | 213.8 | -23.48 |
| Total Comprehensive Income | 142.8 | 1.9 | 7,415.79 | 182.2 | -21.62 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 21,450.1 | 17,913.9 | 19.74 |
| Gross Profit (Loss) | 3,682 | 3,350.9 | 9.88 |
| Operational Profit (Loss) | 1,453.1 | 1,088.8 | 33.46 |
| Net Profit (Loss) after Zakat and Tax | 648.3 | 476.2 | 36.14 |
| Total Comprehensive Income | 443.3 | 604.8 | -26.7 |
| Total Share Holders Equity (after Deducting Minority Equity) | 8,401.4 | 8,426.3 | -0.29 |
| Profit (Loss) per Share | 1.21 | 0.89 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The Group recorded net profit during Q3 2022 amounting to SAR 164 million versus net profit of SAR 122 million for the same quarter last year. The increase in net profit is mainly attributed to the following: |
- Increase in the gross profit primarily due to improved margins in the Food Processing segment; and
- Higher share of profits from associates.
The increase in net profit is despite the following:
- Higher operating expenses;
- Higher net finance cost; and
- Higher zakat and income-tax expense.
The Group reported Revenues of SAR 7.1 billion during Q3 2022 compared to SAR 6 billion for the same quarter last year, showing a 17% increase.
- Decrease in gross profit primarily due to lower margins in the Food Processing, Retail and Frozen Foods segments;
- Lower share of profits from associates; and
- Higher net finance cost.
The decrease in net profit is despite the following:
- Lower operating expenses; and
- Lower zakat and income-tax expense.
The Group reported Revenues of SAR 7.1 billion during Q3 2022 compared to SAR 6.9 billion for the previous quarter ended 30 June 2022, showing a 3% increase.
- Increase in gross profit primarily due to improved margins in the Food Processing segment; and
- Higher share of profits from associates.
The increase in net profit is despite the following:
- Higher operating expenses;
- Higher net finance cost; and
- Higher zakat and income-tax expense.
The Group reported Revenues of SAR 21.5 billion during the nine-month period ended 30 September 2022 compared to SAR 17.9 billion for the same period last year, showing a 20% increase.
For the nine-month period ended 30 September 2022 as compared to the same period in the previous year, revenues increased in the Food Processing and Frozen Foods segments by 47% and 4%, respectively. While revenues decreased in the Retail and Food Services segments by 6% and 6% respectively, compared to the same period in the previous year.
The increase in revenue in the Food Processing segment during the current period as compared to the same period in the previous year is mainly due to increases in commodity prices and edible oil segment volumes.
Net profit by segment:
For the nine-month period ended 30 September 2022 as compared to the same period in the previous year, net profit from the Food Processing segment increased by 52%.
The Retail segment recorded a net loss of SAR 173 million in the nine-month period ended 30 September 2022 compared to a net loss of SAR 147 million in the same period in the previous year.
For the nine-month period ended 30 September 2022 as compared to the same period in the previous year, net profit from the Food Services and Frozen Foods segments declined by 38% and 16%, respectively.
The Condensed Consolidated Financial Statements for the period ended 30 September 2022, will be available through the following link on Savola’s website, and Savola’s Investment Relation App after sending it to the relevant authorities, through the following link: http://www.savola.com/SavolaE/Financial_Reports.php
The quarterly investor presentation will be available on Savola’s website within the Investors section at the following link:
https://www.savola.com/en/investors/investor-relations/financial-information/earnings-presentations
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