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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. The company produces and sells edible oils, vegetable ghee, specialty fats, sugar, pasta, and other food and confectionary products. 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, real estate, 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 Approves Dividends for the Third Quarter of 2016, Payable on 6 November 2016

Eng. Rayan M. Fayez, the group CEO announced that the Savola Group Board of Directors, has approved on 19th of October 2016, the distribute SAR 133.50 Million, (i.e. SAR 0.25 per share) as dividends for the third quarter of 2016, which represents 2.5% of the company's nominal share value. Therefore, the dividends distributed to shareholders during the first and second quarters and the proposed dividend to be distributed for the 3rd quarter of the fiscal year of 2016 will reach SAR 400.5 million (i.e. SAR 0.75 per share), which represents 7.5% of the company's nominal share value. The maturity date for the third quarter of 2016 dividends will be for all shareholders registered in the company books at the end of the trading day on 23rd October, 2016. The dividend payments will be processed as of 6th November 2016.

Savola Group Company Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016

Savola Group Company reported earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported net profit of SAR 173.4 million compared to SAR 317.6 million a year ago. Operational profit was SAR 311.3 million compared to SAR 494 million a year ago. The decline in the group's net income for third quarter 2016 compared to second quarter 2016 is mainly due to lower revenue and gross profit (which is a result of seasonality), despite increased share of income from associates. For the nine months, the company reported net profit of SAR 513 million compared to SAR 1,276.4 million a year ago. Operational profit was SAR 1,011 million compared to SAR 1,407.2 million a year ago. Earning or loss per share was SAR 0.96 compared to SAR 2.39 a year ago.

The Savola Group Announces Group Earnings Results for the Second Quarter and Six Months Ended June 30, 2016

The Savola Group announced group earnings results for the second quarter and six months ended June 30, 2016. Net profit reported during the second quarter 2016 which amounted to SAR 246.7 million compared to SAR 434.4 million a year ago. Operational profit was SAR 414.2 million compared to operational profit of SAR 542.7 million a year ago. The decrease in the group net income for second quarter 2016 compared to the same quarter last year is mainly due to lower gross profit, higher operating expenses and financial charges despite higher share of income from associates, lower zakat and tax and reduced share of minority interest. For the six months, the company’s net profit was SAR 339.6 million compared to net profit of SAR 904.9 million a year ago. Operational profit was SAR 699.7 million compared to operational profit of SAR 913.3 million a year ago. Earnings per share was SAR 0.64 compared to SAR 1.69 a year ago. Reduction in the group net income for the period ended 30 June 2016 compared to the same period last year is attributed mainly to capital gain recorded from disposal of Savola Packaging Systems Co during first quarter of 2015, higher losses from USCE due to currency exchange and increased financial charges despite lower zakat and income tax, increased share of net income from associates and positive impact of reduced minority interests during this period. Operating income was lower compared to the same period last year due to increased operating expenses which is driven by growth in Retail operations.

 

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Price/Earnings 18.0x
Price/Sales 0.8x
Price/Book 2.0x
Price/Cash Flow 20.1x
TEV/Sales 0.3x
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