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savola (2050) Details

Savola Group Company, through its subsidiaries, manufactures and sells food products in the Gulf and the Middle East region, and North African and Central Asian countries. It operates through Foods, Retail, Plastic, and Investment and Other Activities segments. The company produces and sells edible oils, vegetable ghee, specialty fats, sugar, pasta, sweeteners, and other food and confectionary products, as well as flexible and rigid plastic packaging products for industrial and commercial use. It also operates a network of hypermarkets and supermarkets, as well as convenience stores under My Panda name; and engages in the agro cultivation, services and maintenance, and trading and distribution activities. The company was founded in 1978 and is headquartered in Jeddah, Saudi Arabia.

Founded in 1978

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savola (2050) Key Developments

Savola Group Company Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

Savola Group Company reported earnings results for the fourth quarter and full year ended December 31, 2014. The company reported net profit for the fourth quarter ended December 31, 2015 was SAR 515.3 million, compared to SAR 434.4 million for the same quarter ended December 31, 2014. Operational profit for the fourth quarter ended December 31, 2015 was SAR 531.2 million, compared to SAR 604.6 million for the same quarter ended December 31, 2014. The company net profit for the year ended December 31, 2015 was SAR 1.79 billion, or SAR 3.36 per share, compared to SAR 2.07 billion, or SAR 3.88 per share, for the year ended December 31, 2014. Operational profit for the year ended December 31, 2015 was SAR 1.98 billion, compared to SAR 2.45 billion for the year ended December 31, 2014.

Savola Group Recommends Dividend for the Fourth Quarter 2015

Savola Group announced that in a continuation of its declared policy to distribute quarterly dividends to its shareholders and based on the net profit reported during the fourth quarter, 2015, which amounted to SAR 515.3 Million, the Board of Directors, have recommended on 20 January 2016 to distribute SAR 266.99 million (SAR 0.50 per share) as cash dividends for the fourth quarter of 2015, which represents 5% of the company nominal share value.

Savola Group Announces Management Changes

Savola Group announced that it appointed Rayan Mohammed Fayez as chief executive. Fayez, who was previously chief executive of JP Morgan in Saudi Arabia, is expected to take up his duties on March 1, 2016. Fayez takes over from Abdullah M Nour Rahemi, who will retain his position as managing director of Savola until the end of the term of the current board, which expires on June 30, 2015.

 

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Price/Sales 0.8x
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Price/Cash Flow 11.7x
TEV/Sales 0.3x
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