Announcement • May 20
Tanmiah Food Company, Annual General Meeting, Jun 16, 2026 Tanmiah Food Company, Annual General Meeting, Jun 16, 2026, at 18:30 Arab Standard Time. Location: riyadh Saudi Arabia Reported Earnings • May 16
First quarter 2026 earnings released: ر.س0.06 loss per share (vs ر.س0.94 profit in 1Q 2025) First quarter 2026 results: ر.س0.06 loss per share (down from ر.س0.94 profit in 1Q 2025). Revenue: ر.س731.2m (up 8.0% from 1Q 2025). Net loss: ر.س1.13m (down 106% from profit in 1Q 2025). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Food industry in Saudi Arabia. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. New Risk • Mar 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Saudi stocks, typically moving 5.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Minor Risks Dividend is not well covered by earnings (148% payout ratio). Share price has been volatile over the past 3 months (5.8% average weekly change). Reported Earnings • Feb 27
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: ر.س0.94 loss per share (down from ر.س4.79 profit in FY 2024). Revenue: ر.س2.65b (up 3.5% from FY 2024). Net loss: ر.س18.8m (down 120% from profit in FY 2024). Revenue exceeded analyst estimates by 2.1%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Food industry in Saudi Arabia. Over the last 3 years on average, earnings per share has fallen by 23% per year whereas the company’s share price has fallen by 26% per year. New Risk • Jan 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Saudi stocks, typically moving 5.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.6x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 148% Paying a dividend despite having no free cash flows. High level of non-cash earnings (23% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (5.4% average weekly change). Profit margins are more than 30% lower than last year (1.2% net profit margin). Reported Earnings • Nov 19
Third quarter 2025 earnings released: ر.س0.79 loss per share (vs ر.س1.21 profit in 3Q 2024) Third quarter 2025 results: ر.س0.79 loss per share (down from ر.س1.21 profit in 3Q 2024). Revenue: ر.س614.2m (down 6.6% from 3Q 2024). Net loss: ر.س15.8m (down 166% from profit in 3Q 2024). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Food industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Price Target Changed • Nov 13
Price target decreased by 8.2% to ر.س118 Down from ر.س128, the current price target is an average from 4 analysts. New target price is 85% above last closing price of ر.س63.50. Stock is down 53% over the past year. The company is forecast to post earnings per share of ر.س1.87 for next year compared to ر.س4.79 last year. Announcement • Oct 21
Tanmiah Food Company Appoints Zein Attar as Managing Director and Chief Human Resources Officer, Effective October 20, 2025 Tanmiah Food Company announced the appointment of Ms. Zein Attar as Managing Director and Chief Human Resources Officer, effective October 20, 2025. The decision was approved by the Board of Directors, reflecting the firm's strategic commitment to strengthening its organizational capabilities and accelerating its progress across operations, talent development and culture. Ms. Attar, who previously served as Chair of Tanmiah's Nomination and Remuneration Committee and as an Independent Member of the Board, will now assume an Executive Member classification. She brings over 15 years of distinguished experience in human resources and organizational strategy, with a proven track record of driving performance through people-centric innovation. Prior to joining Tanmiah, Ms. Attar served as Director of Organization Development at Industrialization & Energy Services Company (TAQA), where she led enterprise-wide initiatives in leadership development, organizational design, and strategic workforce planning. Her career also spans pivotal roles at Mercer and Bupa Saudi Arabia, where she built a reputation for unlocking human potential, driving performance through people-first innovation, and building resilient organizations from the ground up. Ms. Attar is widely recognized as a thought leader in the field of human resources, frequently invited to speak and moderate at regional and international forums. She holds a Master of Science in Human Resource Management and Organizational Analysis from King's College London and is a Chartered Member of the Chartered Institute of Personnel and Development (CIPD). Major Estimate Revision • Aug 27
Consensus EPS estimates fall by 21% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from ر.س3.25 to ر.س2.56 per share. Revenue forecast steady at ر.س2.72b. Net income forecast to grow 5.5% next year vs 5.3% growth forecast for Food industry in Saudi Arabia. Consensus price target of ر.س130 unchanged from last update. Share price fell 3.0% to ر.س80.35 over the past week. Reported Earnings • Aug 21
Second quarter 2025 earnings released: EPS: ر.س0.02 (vs ر.س1.20 in 2Q 2024) Second quarter 2025 results: EPS: ر.س0.02 (down from ر.س1.20 in 2Q 2024). Revenue: ر.س649.5m (up 1.5% from 2Q 2024). Net income: ر.س498.0k (down 98% from 2Q 2024). Profit margin: 0.1% (down from 3.8% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Food industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. New Risk • Aug 21
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.6% Last year net profit margin: 3.8% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.3x net interest cover). High level of non-cash earnings (38% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (2.6% net profit margin). Major Estimate Revision • Aug 14
Consensus EPS estimates fall by 37% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ر.س2.90b to ر.س2.71b. EPS estimate also fell from ر.س5.14 per share to ر.س3.25 per share. Net income forecast to shrink 19% next year vs 3.7% growth forecast for Food industry in Saudi Arabia . Consensus price target of ر.س137 unchanged from last update. Share price fell 13% to ر.س81.45 over the past week. Announcement • Aug 05
Tanmiah Food Company to Report Q2, 2025 Results on Aug 10, 2025 Tanmiah Food Company announced that they will report Q2, 2025 results at 10:00 AM, Arabian Standard Time on Aug 10, 2025 Upcoming Dividend • Jun 11
Upcoming dividend of ر.س2.24 per share Eligible shareholders must have bought the stock before 16 June 2025. Payment date: 30 June 2025. Payout ratio is a comfortable 48% but the company is not cash flow positive. Trailing yield: 2.3%. Lower than top quartile of Saudi dividend payers (5.2%). Lower than average of industry peers (2.7%). Announcement • Jun 02
Tanmiah Food Company Continues Its Sustainability Journey with the Introduction of 100% Electric, Zero-Emission Trucks Tanmiah Food Company has announced the introduction of 100% electric trucks with zero emissions of pollutant gases, to its logistics and distribution operations. The introduced model line is considered the Kingdom's first fully refrigerated electric truck for local Fresh chicken transportation, powered by Quantron zero-emission technology. These trucks are specifically engineered for sustainable, long-range commercial operations, aligning with national and global climate objectives. To support the autonomy of the electric trucks, which can travel up to 240 km, Tanmiah has implemented dedicated infrastructure at its operations in Riyadh. These truck models operate silently, making them suitable for night deliveries in areas with movement restrictions during those hours. The introduction of the new electric trucks was marked by an inauguration event held at Tanmiah's headquarters in Riyadh. The event was attended by Dr. Ali Mohammed Al-Shaikhi, Assistant Deputy Minister for Livestock and Fisheries at the Ministry of Environment, Water and Agriculture (MEWA) of Saudi Arabia, along with a delegation from the Ministry. Tanmiah's executive leadership team, led by Group CEO Mr. Zulfiqar Hamadani, also participated, alongside senior executives from Tanmiah's partners in this initiative--National Transportation Solutions Company (NTSC), that specializes in advanced fleet management, sustainable multi-modal mobility solutions, and electric commercial vehicles and buses; and Massar Solutions, a provider of diverse services across the transportation and mobility sector. Every 4-ton electric truck is projected to avoid approximately 95 metric tons of carbon dioxide (CO2) emissions annually compared to traditional diesel-powered trucks. It is also worth mentioning that the electric truck can reduce carbon emissions equivalent to those of 25 Saudi residents' carbon emissions from transportation. Tanmiah continues to advance its ambitious sustainability agenda with the launch of electric trucks--marking a significant milestone in its ongoing efforts to reduce environmental impact and champion carbon-neutral operations. These integrated initiatives are not only a testament to Tanmiah's holistic approach to sustainability but also a direct reflection of its commitment to supporting the environmental objectives outlined in Saudi Arabia's Vision 2030, including carbon reduction, responsible resource use, and sustainable food security. Declared Dividend • May 28
Dividend increased to ر.س2.24 Dividend of ر.س2.24 is 18% higher than last year. Ex-date: 16th June 2025 Payment date: 30th June 2025 Dividend yield will be 2.3%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is covered by earnings (40% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 55% per year over the past 3 years. However, payments have been volatile during that time. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 25
First quarter 2025 earnings released: EPS: ر.س0.95 (vs ر.س1.05 in 1Q 2024) First quarter 2025 results: EPS: ر.س0.95 (down from ر.س1.05 in 1Q 2024). Revenue: ر.س677.1m (up 17% from 1Q 2024). Net income: ر.س18.9m (down 9.8% from 1Q 2024). Profit margin: 2.8% (down from 3.6% in 1Q 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 7.1% growth forecast for the Food industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • May 09
Tanmiah Food Company to Report Q1, 2025 Results on May 15, 2025 Tanmiah Food Company announced that they will report Q1, 2025 results on May 15, 2025 Board Change • Apr 20
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 independent directors. 7 non-independent directors. Non-Independent Deputy Chairman of the Board Jamal Al Dabbagh was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Apr 09
Tanmiah Food Company Approves Board Changes Tanmiah Food Company at the Ordinary General Assembly Meeting held on April 08, 2025 approved of the Board of Directors’ decision to appoint (Mr. Tariq Al-Abbadi) as a (non-executive) member of the Board of Directors starting from the date of his appointment on October 10, 2024 to complete the Board’s term until the end of the current term on April 16, 2025, succeeding the previous member (Mr. Dirk Vanderbroek - Non-Executive Member). Approved to elect members of the Board of Directors from among the candidates for the next session, which starts on April 17, 2025 for a period of (3) Gregorian years, ending on April 16, 2028. The following members were elected: Hawazen Nassief; Mr. Vincent Carton; Ms. Zein Attar; Ms. Shahad Nejaim; Ms. Farha Aslam; Mr. Nadir Qureshi. New Risk • Apr 06
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 1.7% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (17% operating cash flow to total debt). High level of non-cash earnings (22% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Announcement • Mar 18
Tanmiah Food Company, Annual General Meeting, Apr 07, 2025 Tanmiah Food Company, Annual General Meeting, Apr 07, 2025, at 18:30 Arab Standard Time. Location: riyadh Saudi Arabia New Risk • Mar 02
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 17% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (17% operating cash flow to total debt). High level of non-cash earnings (22% accrual ratio). Reported Earnings • Feb 22
Full year 2024 earnings: Revenues in line with analyst expectations Full year 2024 results: Revenue: ر.س2.56b (up 23% from FY 2023). Net income: ر.س95.8m (up 26% from FY 2023). Profit margin: 3.7% (up from 3.6% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Food industry in Saudi Arabia. Reported Earnings • Nov 09
Third quarter 2024 earnings released: EPS: ر.س1.21 (vs ر.س1.01 in 3Q 2023) Third quarter 2024 results: EPS: ر.س1.21 (up from ر.س1.01 in 3Q 2023). Revenue: ر.س657.4m (up 23% from 3Q 2023). Net income: ر.س24.1m (up 20% from 3Q 2023). Profit margin: 3.7% (down from 3.8% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Food industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. New Risk • Nov 09
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (22% accrual ratio). Minor Risk High level of debt (59% net debt to equity). Major Estimate Revision • Nov 04
Consensus EPS estimates fall by 12%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from ر.س2.49b to ر.س2.55b. EPS estimate fell from ر.س6.37 to ر.س5.61 per share. Net income forecast to grow 28% next year vs 16% growth forecast for Food industry in Saudi Arabia. Consensus price target of ر.س129 unchanged from last update. Share price was steady at ر.س141 over the past week. Reported Earnings • Aug 13
Second quarter 2024 earnings released: EPS: ر.س1.20 (vs ر.س0.83 in 2Q 2023) Second quarter 2024 results: EPS: ر.س1.20 (up from ر.س0.83 in 2Q 2023). Revenue: ر.س639.8m (up 28% from 2Q 2023). Net income: ر.س24.0m (up 44% from 2Q 2023). Profit margin: 3.8% (up from 3.4% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Food industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Price Target Changed • Aug 12
Price target increased by 9.4% to ر.س140 Up from ر.س128, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of ر.س136. Stock is up 18% over the past year. The company is forecast to post earnings per share of ر.س6.37 for next year compared to ر.س4.47 last year. Announcement • Aug 10
Tanmiah Food Company to Report Q2, 2024 Results on Aug 11, 2024 Tanmiah Food Company announced that they will report Q2, 2024 results at 10:00 AM, Arabian Standard Time on Aug 11, 2024 Announcement • Jun 13
Tanmiah Food Company Approves Dividend for the Fiscal Year Ending on December 31, 2023, Payable on July 4, 2024 Tanmiah Food Company at its ordinary general assembly meeting held on June 10, 2024, approved the distribution of dividends to shareholders with a total amount of SAR 38 million for the fiscal year ending on December 31, 2023, with SAR 1.9 dividend per share and (19% Share Par Value) as the percentage of dividend, provided that the dividends eligibility is for the shareholders who own the Company's shares at the end of the trading day on the day of the general assembly and registered in the Company's register at the Securities Depository Center Company (Edaa) by the end of the second trading day following the eligibility date. The distribution date will be July 4, 2024. Announcement • May 23
Tanmiah Food Company, Annual General Meeting, Jun 10, 2024 Tanmiah Food Company, Annual General Meeting, Jun 10, 2024, at 18:30 Arab Standard Time. Location: riyadh Saudi Arabia Reported Earnings • May 18
First quarter 2024 earnings released: EPS: ر.س1.05 (vs ر.س1.05 in 1Q 2023) First quarter 2024 results: EPS: ر.س1.05. Revenue: ر.س581.4m (up 20% from 1Q 2023). Net income: ر.س21.0m (flat on 1Q 2023). Profit margin: 3.6% (down from 4.3% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Food industry in Saudi Arabia. Valuation Update With 7 Day Price Move • May 16
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ر.س117, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 24x in the Food industry in Saudi Arabia. Total loss to shareholders of 11% over the past year. Major Estimate Revision • May 14
Consensus EPS estimates fall by 19% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ر.س2.47b to ر.س2.37b. EPS estimate also fell from ر.س7.40 per share to ر.س6.03 per share. Net income forecast to grow 35% next year vs 14% growth forecast for Food industry in Saudi Arabia. Consensus price target up from ر.س128 to ر.س133. Share price fell 14% to ر.س117 over the past week. Price Target Changed • Feb 15
Price target increased by 12% to ر.س114 Up from ر.س102, the current price target is an average from 2 analysts. New target price is 8.9% below last closing price of ر.س125. Stock is up 4.3% over the past year. The company is forecast to post earnings per share of ر.س4.18 for next year compared to ر.س3.74 last year. Valuation Update With 7 Day Price Move • Feb 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ر.س120, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 25x in the Food industry in Saudi Arabia. Total returns to shareholders of 2.2% over the past year. Reported Earnings • Nov 08
Third quarter 2023 earnings released: EPS: ر.س0.86 (vs ر.س1.59 in 3Q 2022) Third quarter 2023 results: EPS: ر.س0.86 (down from ر.س1.59 in 3Q 2022). Revenue: ر.س533.7m (down 4.6% from 3Q 2022). Net income: ر.س17.2m (down 46% from 3Q 2022). Profit margin: 3.2% (down from 5.7% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Food industry in Saudi Arabia. New Risk • Aug 20
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 30% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (30% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Aug 18
Second quarter 2023 earnings released: EPS: ر.س0.57 (vs ر.س1.51 in 2Q 2022) Second quarter 2023 results: EPS: ر.س0.57 (down from ر.س1.51 in 2Q 2022). Revenue: ر.س498.7m (down 6.0% from 2Q 2022). Net income: ر.س11.4m (down 62% from 2Q 2022). Profit margin: 2.3% (down from 5.7% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Food industry in Saudi Arabia. Valuation Update With 7 Day Price Move • Dec 18
Investor sentiment improved over the past week After last week's 20% share price gain to ر.س117, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 19x in the Food industry in Saudi Arabia. Total returns to shareholders of 30% over the past year. Price Target Changed • Nov 16
Price target increased to ر.س143 Up from ر.س92.00, the current price target is an average from 2 analysts. New target price is 31% above last closing price of ر.س109. Stock is up 30% over the past year. The company is forecast to post earnings per share of ر.س4.60 for next year compared to ر.س0.68 last year. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Non-independent Deputy Chairman of the Board Jamal Al Dabbagh was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 11
Third quarter 2022 earnings released: EPS: ر.س1.59 (vs ر.س0.19 in 3Q 2021) Third quarter 2022 results: EPS: ر.س1.59 (up from ر.س0.19 in 3Q 2021). Revenue: ر.س559.5m (up 44% from 3Q 2021). Net income: ر.س31.7m (up ر.س28.0m from 3Q 2021). Profit margin: 5.7% (up from 1.0% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Food industry in Saudi Arabia. Reported Earnings • Aug 19
Second quarter 2022 earnings released: EPS: ر.س1.51 (vs ر.س0.17 in 2Q 2021) Second quarter 2022 results: EPS: ر.س1.51 (up from ر.س0.17 in 2Q 2021). Revenue: ر.س530.6m (up 45% from 2Q 2021). Net income: ر.س30.2m (up ر.س26.8m from 2Q 2021). Profit margin: 5.7% (up from 0.9% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 15%, compared to a 5.9% growth forecast for the Food industry in Saudi Arabia. Announcement • Jun 28
Tanmiah Food Company Approves the Formation of the Audit Committee Tanmiah Food Company at its General Assembly's Meeting held on June 26, 2022 approved on the formation of the Audit Committee with Kamel Bin Salahuldin AlMunajjed, Jamal Bin Abdullah Al Dabbagh, Vincent Carton and the definition of its duties, work regulations, and remuneration of its members for the new term, starting from the date of formation until the end of the term on April 16, 2025. Announcement • Jun 06
Tanmiah Food Company, Annual General Meeting, Jun 26, 2022 Tanmiah Food Company, Annual General Meeting, Jun 26, 2022, at 18:30 Arabian Standard Time. Reported Earnings • Apr 27
First quarter 2022 earnings released First quarter 2022 results: Revenue: ر.س435.3m (up 18% from 1Q 2021). Net income: ر.س1.54m (down 92% from 1Q 2021). Profit margin: 0.4% (down from 5.1% in 1Q 2021). Over the next year, revenue is forecast to grow 13%, compared to a 3.8% growth forecast for the industry in Saudi Arabia. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). MD & Executive Director Ahmed Osilan was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 20
Tanmiah Food Company Announces Executive Changes Tanmiah Food Company has appointed Amr Abdullah Al Dabbagh as the new Chairman of the board for the coming three years. The Saudi listed company also named Jamal Abdullah Al Dabbagh as the Vice Chairman, according to a recent bourse disclosure. During the same ordinary general meeting that was held on 14 April, the board appointed Ahmed Sharaf Osilan as the Managing Director. Announcement • Apr 19
Tanmiah Food Company Appoints Mahmoud Mansour Abdul Ghaffar as Secretary of the Board of Directors Tanmiah Food Company at its Ordinary General Assembly meeting held on April 14, 2022 appointed Mr. Mahmoud Mansour Abdul Ghaffar as Secretary of the Board of Directors. Reported Earnings • Feb 22
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: ر.س0.68 (down from ر.س3.72 in FY 2020). Revenue: ر.س1.54b (up 27% from FY 2020). Net income: ر.س13.6m (down 82% from FY 2020). Profit margin: 0.9% (down from 6.1% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 23%. Over the next year, revenue is expected to shrink by 13% compared to a 4.2% growth forecast for the industry in Saudi Arabia.