Announcement • Jun 04
Alamar Foods Company, Annual General Meeting, Jun 30, 2026 Alamar Foods Company, Annual General Meeting, Jun 30, 2026, at 19:00 Arab Standard Time. Location: riyadh Saudi Arabia Upcoming Dividend • May 25
Upcoming dividend of ر.س0.50 per share Eligible shareholders must have bought the stock before 01 June 2026. Payment date: 09 June 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.3%. Lower than top quartile of Saudi dividend payers (6.0%). Higher than average of industry peers (2.8%). Reported Earnings • May 16
First quarter 2026 earnings released: EPS: ر.س0.07 (vs ر.س0.034 loss in 1Q 2025) First quarter 2026 results: EPS: ر.س0.07 (up from ر.س0.034 loss in 1Q 2025). Revenue: ر.س236.9m (up 12% from 1Q 2025). Net income: ر.س1.83m (up ر.س2.70m from 1Q 2025). Profit margin: 0.8% (up from net loss in 1Q 2025). The move to profitability was driven by higher revenue. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Hospitality industry in Saudi Arabia. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. Announcement • May 12
Alamar Foods Company announces Quarterly dividend, payable on June 09, 2026 Alamar Foods Company announced Quarterly dividend of SAR 0.5000 per share payable on June 09, 2026, ex-date on May 31, 2026 and record date on June 01, 2026. Reported Earnings • Apr 04
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: ر.س1.88 (up from ر.س1.52 in FY 2024). Revenue: ر.س945.9m (up 6.1% from FY 2024). Net income: ر.س47.6m (up 24% from FY 2024). Profit margin: 5.0% (up from 4.3% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) missed analyst estimates by 8.2%. Revenue is forecast to grow 9.8% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Hospitality industry in Saudi Arabia. Over the last 3 years on average, earnings per share has fallen by 31% per year whereas the company’s share price has fallen by 34% per year. Declared Dividend • Apr 01
Third quarter dividend of ر.س0.60 announced Shareholders will receive a dividend of ر.س0.60. Ex-date: 15th April 2026 Payment date: 28th April 2026 Dividend yield will be 5.1%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (105% earnings payout ratio). However, it is covered by cash flows (68% cash payout ratio). The dividend has decreased over the past 46 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 17% to bring the payout ratio under control. EPS is expected to grow by 55% over the next 2 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Mar 31
Alamar Foods Company announces Quarterly dividend, payable on April 28, 2026 Alamar Foods Company announced Quarterly dividend of SAR 0.6000 per share payable on April 28, 2026, ex-date on April 15, 2026 and record date on April 16, 2026. Price Target Changed • Jan 16
Price target decreased by 7.0% to ر.س79.50 Down from ر.س85.50, the current price target is an average from 3 analysts. New target price is 82% above last closing price of ر.س43.70. Stock is down 45% over the past year. The company is forecast to post earnings per share of ر.س2.05 for next year compared to ر.س1.52 last year. Upcoming Dividend • Nov 20
Upcoming dividend of ر.س0.60 per share Eligible shareholders must have bought the stock before 26 November 2025. Payment date: 09 December 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.6%. Lower than top quartile of Saudi dividend payers (5.6%). In line with average of industry peers (4.3%). Reported Earnings • Nov 12
Third quarter 2025 earnings released: EPS: ر.س0.62 (vs ر.س0.80 in 3Q 2024) Third quarter 2025 results: EPS: ر.س0.62 (down from ر.س0.80 in 3Q 2024). Revenue: ر.س236.7m (up 3.3% from 3Q 2024). Net income: ر.س15.7m (down 23% from 3Q 2024). Profit margin: 6.6% (down from 8.9% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Hospitality industry in Saudi Arabia. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. Declared Dividend • Nov 06
Second quarter dividend of ر.س0.60 announced Shareholders will receive a dividend of ر.س0.60. Ex-date: 26th November 2025 Payment date: 9th December 2025 Dividend yield will be 4.3%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not adequately covered by earnings (97% earnings payout ratio). However, it is covered by cash flows (70% cash payout ratio). The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 7.4% to bring the payout ratio under control. EPS is expected to grow by 96% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Nov 05
Alamar Foods Company announces Quarterly dividend, payable on December 09, 2025 Alamar Foods Company announced Quarterly dividend of SAR 0.6000 per share payable on December 09, 2025, ex-date on November 26, 2025 and record date on November 27, 2025. Reported Earnings • Aug 13
Second quarter 2025 earnings released: EPS: ر.س0.60 (vs ر.س0.52 in 2Q 2024) Second quarter 2025 results: EPS: ر.س0.60 (up from ر.س0.52 in 2Q 2024). Revenue: ر.س236.7m (up 4.5% from 2Q 2024). Net income: ر.س15.3m (up 17% from 2Q 2024). Profit margin: 6.5% (up from 5.8% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Hospitality industry in Saudi Arabia. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Declared Dividend • Aug 07
First quarter dividend of ر.س0.50 announced Shareholders will receive a dividend of ر.س0.50. Ex-date: 20th August 2025 Payment date: 2nd September 2025 Dividend yield will be 4.1%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (101% earnings payout ratio) nor is it adequately covered by cash flows (90.4% cash payout ratio). The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 12% to bring the payout ratio under control. EPS is expected to grow by 90% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. New Risk • Aug 06
New major risk - Revenue and earnings growth Earnings have declined by 27% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 101% Cash payout ratio: 90% Earnings have declined by 27% per year over the past 5 years. Announcement • Aug 06
Alamar Foods Company announces Quarterly dividend, payable on September 02, 2025 Alamar Foods Company announced Quarterly dividend of SAR 0.5000 per share payable on September 02, 2025, ex-date on August 20, 2025 and record date on August 21, 2025. Announcement • Jul 01
Alamar Foods Company Approves Cash Dividends for the First Quarter of 2025, Payable on July 15, 2025 Alamar Foods Company at its ordinary General Assembly Meeting held on June 29, 2025, Approval on the Board of Directors’ recommendation to the General Assembly to distribute cash dividends to shareholders for the first quarter of 2025, amounting to SAR 11,385,675, representing 4.5% of the share capital. The entitlement to the cash dividends shall be for shareholders who own shares and are registered in the Company’s shareholders register at the end of the second trading day following the date of the General Assembly meeting, noting that the distribution date shall be July 15, 2025G. Upcoming Dividend • Jun 23
Upcoming dividend of ر.س0.45 per share Eligible shareholders must have bought the stock before 30 June 2025. Payment date: 15 July 2025. The company is paying out more than 100% of its profits and is paying out 90% of its cash flow. Trailing yield: 3.9%. Lower than top quartile of Saudi dividend payers (5.4%). Higher than average of industry peers (2.0%). Major Estimate Revision • Jun 13
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ر.س1.00b to ر.س957.8m. EPS estimate also fell from ر.س2.49 per share to ر.س2.15 per share. Net income forecast to grow 47% next year vs 25% growth forecast for Hospitality industry in Saudi Arabia. Consensus price target down from ر.س91.57 to ر.س88.63. Share price fell 4.2% to ر.س57.50 over the past week. Price Target Changed • Jun 06
Price target decreased by 7.5% to ر.س90.30 Down from ر.س97.60, the current price target is an average from 3 analysts. New target price is 50% above last closing price of ر.س60.00. Stock is down 23% over the past year. The company is forecast to post earnings per share of ر.س2.49 for next year compared to ر.س1.52 last year. Declared Dividend • Jun 04
First quarter dividend of ر.س0.45 announced Shareholders will receive a dividend of ر.س0.45. Ex-date: 30th June 2025 Payment date: 15th July 2025 Dividend yield will be 3.6%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (101% earnings payout ratio) nor is it adequately covered by cash flows (90.4% cash payout ratio). The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 12% to bring the payout ratio under control. EPS is expected to grow by 95% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Jun 02
Alamar Foods Company, Annual General Meeting, Jun 29, 2025 Alamar Foods Company, Annual General Meeting, Jun 29, 2025, at 19:15 Arab Standard Time. Location: riyadh Saudi Arabia Reported Earnings • May 16
First quarter 2025 earnings released: ر.س0.03 loss per share (vs ر.س0.66 loss in 1Q 2024) First quarter 2025 results: ر.س0.03 loss per share (improved from ر.س0.66 loss in 1Q 2024). Revenue: ر.س211.1m (up 2.1% from 1Q 2024). Net loss: ر.س869.8k (loss narrowed 95% from 1Q 2024). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in Saudi Arabia. Major Estimate Revision • Apr 29
Consensus EPS estimates fall by 24% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ر.س1.04b to ر.س999.9m. EPS estimate also fell from ر.س3.29 per share to ر.س2.49 per share. Net income forecast to grow 88% next year vs 24% growth forecast for Hospitality industry in Saudi Arabia. Consensus price target broadly unchanged at ر.س95.93. Share price was steady at ر.س70.10 over the past week. Upcoming Dividend • Apr 10
Upcoming dividend of ر.س0.60 per share Eligible shareholders must have bought the stock before 14 April 2025. Payment date: 29 April 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.0%. Lower than top quartile of Saudi dividend payers (5.4%). Higher than average of industry peers (2.1%). Reported Earnings • Apr 02
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: ر.س1.52 (down from ر.س2.29 in FY 2023). Revenue: ر.س891.6m (down 10% from FY 2023). Net income: ر.س38.3m (down 34% from FY 2023). Profit margin: 4.3% (down from 5.8% in FY 2023). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 4.0%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in Saudi Arabia. Declared Dividend • Mar 27
Third quarter dividend of ر.س0.60 announced Shareholders will receive a dividend of ر.س0.60. Ex-date: 14th April 2025 Payment date: 29th April 2025 Dividend yield will be 2.9%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (211% earnings payout ratio). However, it is covered by cash flows (62% cash payout ratio). The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 135% to bring the payout ratio under control. EPS is expected to grow by 159% over the next 2 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Mar 26
Alamar Foods Company announces Quarterly dividend, payable on April 29, 2025 Alamar Foods Company announced Quarterly dividend of SAR 0.6000 per share payable on April 29, 2025, ex-date on April 14, 2025 and record date on April 15, 2025. Buy Or Sell Opportunity • Mar 09
Now 20% overvalued Over the last 90 days, the stock has fallen 1.4% to ر.س75.90. The fair value is estimated to be ر.س63.14, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 44%. Revenue is forecast to grow by 29% in 2 years. Earnings are forecast to grow by 315% in the next 2 years. Buy Or Sell Opportunity • Feb 04
Now 21% overvalued Over the last 90 days, the stock has fallen 2.2% to ر.س76.90. The fair value is estimated to be ر.س63.62, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 44%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 315% in the next 2 years. Upcoming Dividend • Nov 21
Upcoming dividend of ر.س0.60 per share Eligible shareholders must have bought the stock before 27 November 2024. Payment date: 10 December 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 2.8%. Lower than top quartile of Saudi dividend payers (4.7%). Higher than average of industry peers (2.1%). Major Estimate Revision • Nov 13
Consensus EPS estimates fall by 40% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ر.س932.8m to ر.س893.0m. EPS estimate also fell from ر.س2.42 per share to ر.س1.46 per share. Net income forecast to grow 173% next year vs 41% growth forecast for Hospitality industry in Saudi Arabia. Consensus price target broadly unchanged at ر.س94.97. Share price was steady at ر.س77.40 over the past week. Reported Earnings • Nov 09
Third quarter 2024 earnings released: EPS: ر.س0.80 (vs ر.س0.80 in 3Q 2023) Third quarter 2024 results: EPS: ر.س0.80 (up from ر.س0.80 in 3Q 2023). Revenue: ر.س229.0m (down 13% from 3Q 2023). Net income: ر.س20.3m (up 1.1% from 3Q 2023). Profit margin: 8.9% (up from 7.6% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Hospitality industry in Saudi Arabia. Declared Dividend • Nov 07
Second quarter dividend of ر.س0.60 announced Shareholders will receive a dividend of ر.س0.60. Ex-date: 27th November 2024 Payment date: 10th December 2024 Dividend yield will be 2.4%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (112% earnings payout ratio). However, it is well covered by cash flows (41% cash payout ratio). The dividend has decreased over the past 26 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 24% to bring the payout ratio under control. EPS is expected to grow by 275% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Price Target Changed • Sep 30
Price target decreased by 8.6% to ر.س96.63 Down from ر.س106, the current price target is an average from 3 analysts. New target price is 24% above last closing price of ر.س78.10. Stock is down 37% over the past year. The company is forecast to post earnings per share of ر.س2.42 for next year compared to ر.س2.29 last year. Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: ر.س0.52 (vs ر.س0.69 in 2Q 2023) Second quarter 2024 results: EPS: ر.س0.52 (down from ر.س0.69 in 2Q 2023). Revenue: ر.س226.4m (down 10% from 2Q 2023). Net income: ر.س13.1m (down 25% from 2Q 2023). Profit margin: 5.8% (down from 6.9% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Hospitality industry in Saudi Arabia. Declared Dividend • Aug 08
First quarter dividend of ر.س0.50 announced Shareholders will receive a dividend of ر.س0.50. Ex-date: 21st August 2024 Payment date: 3rd September 2024 Dividend yield will be 2.5%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (187% earnings payout ratio). However, it is well covered by cash flows (35% cash payout ratio). The dividend has decreased over the past 26 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 108% to bring the payout ratio under control. EPS is expected to grow by 234% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Aug 07
Alamar Foods Company announces Quarterly dividend, payable on September 03, 2024 Alamar Foods Company announced Quarterly dividend of SAR 0.5000 per share payable on September 03, 2024, ex-date on August 21, 2024 and record date on August 22, 2024. Buy Or Sell Opportunity • Jul 14
Now 22% overvalued Over the last 90 days, the stock has fallen 10% to ر.س83.00. The fair value is estimated to be ر.س68.16, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.0% over the last 3 years. Earnings per share has declined by 31%. New Risk • Jul 12
New major risk - Revenue and earnings growth Earnings have declined by 0.06% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 0.06% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (187% payout ratio). Profit margins are more than 30% lower than last year (2.8% net profit margin). Announcement • Jun 08
Alamar Foods Company, Annual General Meeting, Jun 30, 2024 Alamar Foods Company, Annual General Meeting, Jun 30, 2024, at 20:30 Arab Standard Time. Location: riyadh Saudi Arabia Reported Earnings • May 23
First quarter 2024 earnings released: ر.س0.66 loss per share (vs ر.س0.57 profit in 1Q 2023) First quarter 2024 results: ر.س0.66 loss per share (down from ر.س0.57 profit in 1Q 2023). Revenue: ر.س206.9m (down 17% from 1Q 2023). Net loss: ر.س16.6m (down 216% from profit in 1Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Hospitality industry in Saudi Arabia. Major Estimate Revision • May 07
Consensus EPS estimates fall by 47% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from ر.س4.46 to ر.س2.38 per share. Revenue forecast steady at ر.س984.2m. Net income forecast to grow 90% next year vs 59% growth forecast for Hospitality industry in Saudi Arabia. Consensus price target broadly unchanged at ر.س111. Share price fell 3.8% to ر.س90.30 over the past week. Major Estimate Revision • Apr 07
Consensus revenue estimates decrease by 15% The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from ر.س1.16b to ر.س987.0m. EPS estimate unchanged from ر.س4.46 per share at last update. Hospitality industry in Saudi Arabia expected to see average net income growth of 65% next year. Consensus price target down from ر.س116 to ر.س111. Share price was steady at ر.س90.40 over the past week. Reported Earnings • Apr 04
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: ر.س2.29 (down from ر.س4.58 in FY 2022). Revenue: ر.س991.7m (down 7.8% from FY 2022). Net income: ر.س58.0m (down 50% from FY 2022). Profit margin: 5.8% (down from 11% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.2%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Hospitality industry in Saudi Arabia. Declared Dividend • Mar 28
Third quarter dividend of ر.س0.40 announced Shareholders will receive a dividend of ر.س0.40. Ex-date: 9th April 2024 Payment date: 22nd April 2024 Dividend yield will be 2.2%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (84% earnings payout ratio) and cash flows (37% cash payout ratio). The dividend has decreased over the past 26 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 53% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 27
Alamar Foods Company Announces Cash Dividend for the Fourth Quarter of Year 2023, Payable on April 22, 2024 Alamar Foods Company announced on March 25, 2024 the board of directors decision to distribute cash dividend of SAR 0.4 per share for the fourth quarter of year 2023. The Total amount distributed is SAR 10,107,000. Distribution Date is April 22, 2024. Eligibility date is April 8, 2024. Major Estimate Revision • Jan 18
Consensus EPS estimates fall by 51%, revenue upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from ر.س1.02b to ر.س1.04b. EPS estimate fell from ر.س5.35 to ر.س2.61 per share. Net income forecast to grow 26% next year vs 36% growth forecast for Hospitality industry in Saudi Arabia. Consensus price target down from ر.س128 to ر.س116. Share price fell 3.1% to ر.س94.00 over the past week. Price Target Changed • Dec 12
Price target decreased by 8.9% to ر.س128 Down from ر.س140, the current price target is an average from 4 analysts. New target price is 24% above last closing price of ر.س103. Stock is down 19% over the past year. The company is forecast to post earnings per share of ر.س5.35 for next year compared to ر.س4.58 last year. Upcoming Dividend • Nov 15
Upcoming dividend of ر.س0.60 per share at 2.0% yield Eligible shareholders must have bought the stock before 22 November 2023. Payment date: 05 December 2023. Payout ratio is on the higher end at 84%, however this is supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of Saudi dividend payers (4.8%). Higher than average of industry peers (1.2%). Reported Earnings • Nov 10
Third quarter 2023 earnings released: EPS: ر.س0.79 (vs ر.س0.74 in 3Q 2022) Third quarter 2023 results: EPS: ر.س0.79 (up from ر.س0.74 in 3Q 2022). Revenue: ر.س263.6m (down 4.4% from 3Q 2022). Net income: ر.س20.1m (up 6.8% from 3Q 2022). Profit margin: 7.6% (up from 6.8% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in Saudi Arabia. Price Target Changed • Sep 13
Price target decreased by 7.6% to ر.س140 Down from ر.س152, the current price target is an average from 4 analysts. New target price is 16% above last closing price of ر.س121. Stock is down 9.4% over the past year. The company is forecast to post earnings per share of ر.س5.35 for next year compared to ر.س4.58 last year. Reported Earnings • Aug 17
Second quarter 2023 earnings released: EPS: ر.س0.68 (vs ر.س0.95 in 2Q 2022) Second quarter 2023 results: EPS: ر.س0.68 (down from ر.س0.95 in 2Q 2022). Revenue: ر.س252.7m (down 1.3% from 2Q 2022). Net income: ر.س17.2m (down 28% from 2Q 2022). Profit margin: 6.8% (down from 9.4% in 2Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Hospitality industry in Saudi Arabia. Upcoming Dividend • Nov 21
Upcoming dividend of ر.س0.70 per share Eligible shareholders must have bought the stock before 28 November 2022. Payment date: 12 December 2022. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Saudi dividend payers (4.8%). Higher than average of industry peers (1.0%). Announcement • Nov 16
Alamar Foods Company Approves the Distribution of Interim Cash Dividends to the Shareholders for the Third Quarter of 2022, Payable on December 12, 2022 Alamar Foods Company announced that the Board of Directors has approved the distribution of interim cash dividends to the shareholders for the third quarter of 2022. The Total amount distributed: SAR 17,697,050. Dividend per share: SAR 0.70. Eligibility date: The eligibility of the dividends shall be for the Company’s shareholders owning shares by the end of trading day of November 27, 2022 and registered with the Securities Depository Center Company at the end of the second trading day. Distribution Date is December 12, 2022. Board Change • Nov 16
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Director Deem Al-Bassam is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 13
Third quarter 2022 earnings released Third quarter 2022 results: EPS: ر.س0.74. Net income: ر.س18.8m (up ر.س18.8m from 3Q 2021). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Hospitality industry in Asia. Buying Opportunity • Oct 26
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be ر.س182, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last year. Earnings per share has grown by 42%. Announcement • Oct 24
Alamar Foods Company, Annual General Meeting, Nov 13, 2022 Alamar Foods Company, Annual General Meeting, Nov 13, 2022, at 15:30 Coordinated Universal Time. Agenda: To consider election of two replacement members of the Board of Directors. Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment improved over the past week After last week's 16% share price gain to ر.س139, the stock trades at a trailing P/E ratio of 28.2x. Average trailing P/E is 26x in the Hospitality industry in Saudi Arabia. Announcement • Aug 22
Alamar Foods Company Approves the Distribution of Interim Cash Dividends to the Shareholders for the First Half of 2022 Alamar Foods Company announced that the Board of Directors has approved the distribution of interim cash dividends to the shareholders for the first half of 2022. The Total amount distributed: SAR 43,000,000. Dividend per share: SAR 1.69. Eligibility date: The eligibility of the dividends shall be for the Company’s shareholders owning shares by the end of trading day of August 30, 2022 and registered with the Securities Depository Center Company at the end of the second trading day. Reported Earnings • Aug 14
First quarter 2022 earnings released First quarter 2022 results: EPS: ر.س1.72. Revenue: ر.س271.0m (flat on 1Q 2021). Net income: ر.س43.2m (up ر.س43.2m from 1Q 2021). Profit margin: 16% (up from null in 1Q 2021). Announcement • Aug 14
Alamar Foods Company Appoints Asim Saud Ibrahim Aljammaz as Vice Chairman of the Board of Directors Alamar Foods Company announced the approval of the Board of Directors on August 11, 2022 appointing Mr. Asim Saud Ibrahim AlJammaz (Non-Executive) as Vice Chairman of the Board of Directors, starting August 09, 2022 until the end of the current session. Board Change • Aug 10
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Director Deem Al-Bassam is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. 
