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Almunajem Foods Co. announces its Interim Financial results for the Period Ending on 2025-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 901.5 | 902.9 | -0.155 | 819.1 | 10.059 |
| Gross Profit (Loss) | 133.3 | 195.8 | -31.92 | 120.9 | 10.256 |
| Operational Profit (Loss) | 46.3 | 117.8 | -60.696 | 58 | -20.172 |
| Net profit (Loss) | 40 | 114 | -64.912 | 60.3 | -33.665 |
| Total Comprehensive Income | 40 | 114 | -64.912 | 59.1 | -32.318 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 1,050 | 1,041.5 | 0.816 |
| Profit (Loss) per Share | 0.67 | 1.9 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | The slight decline in revenue during the 1st quarter of the current year 2025 by 0.2% compared to the same quarter of the last year, reaching SAR 901.5 million, is mainly attributed to lower selling prices of Red & White Meat category despite of increase in sales volumes across most categories. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Decrease in net profit for the 1st quarter of 2024 by 64.9% compared to the same quarter of last year reaching SR 40 million due to the following main reasons: - Decrease in gross profit by 31.9% reaching SR 133.3 million, as a result of a decrease in gross profit margins for most of the categories mainly Red & White Meat category due to price pressures in the market. - A slight increase in operating expenses during 1st quarter 2025 due to the increase in selling & distribution expenses, higher marketing spent related with Ramadan season. Apart from this operating expenses also increased due to the expenses of the newly established subsidiary, the Optimal Solutions Company for Logistics Services. - During Q1 of 2025, the Company recorded its share of the results of associate (Balady Poultry Company) amounting to SR 2.4 million compared to (SR 2 million) in the similar quarter last year 2024. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Revenue of 1ST Quarter 2025 increased by 10.1% reaching SR 901.5 million compared to 4th Quarter 2024. This is driven by an increase in sales volumes across all categories due to seasonal consumption patterns. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | Decrease in net profit for the 1st Quarter of 2025 compared to the 4th Quarter 2024 by 33.6% reaching to SR 40 million despite of increase in gross profit by 10.3% due to the following main reasons: - Increase in operating expenses in 1st Q 2025 compared to previous quarter due to increase in selling & distribution and marketing expenses related with Ramadan season. - Forex losses amounting to SAR 2.8 million during Q1 of 2025 compared to Forex gain of SAR 4.0 million, impacted by appreciation of EURO vs. SAR - Lower share of profits from associate company (Balady Poultry Company) during Q1 of 2025 amounting to SAR 2.4 million compared to SAR 7.3 million recorded in Q1 of 2024 |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | N/A |
| Reclassification of Comparison Items | Some comparative figures for the previous periods have been reclassified in line with the current period's classification. |
| Additional Information | - |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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