RNS Number : 8857G
Arabian Food Ind. Co. Domty S.A.E.
19 March 2020
 

Domty 4Q2019 net profit rose 79% year on year

 

 

_____Highlights of 4Q19_____

Revenues
EGP 646.9 mn

Gross Profit
EGP 173.8mn

Gross Profit Margin
26.87%

Operating Profit
EGP 61.7 mn

Net Income
EGP 39.1 mn

Net Income Margin
6.05%

 

 

 

HIGHLIGHTS OF THE CONSOLIDATED INCOME STATEMENT:

(Numbers in EGP million):

Description

4Q2019

3Q2019

2Q2019

1Q2019

4Q2018

Net Sales

646.9

720.2

646.8

654.8

613.4

Gross profit

173.8

191

158.4

160.9

150.6

Gross Profit Margin

26.87%

26.53%

24.49%

24.58%

24.55%

EBIT

61.7

88.1

66.7

58.4

56.3

EBIT Margin

9.53%

12.23%

10.31%

8.92%

9.17%

Net Profit Before Tax

52.6

68.5

50.9

39.7

30.8

Profit Margin Before Tax

8.14%

9.51%

7.87%

6.06%

5.02%

Net Profit

39.1

50.7

37.5

28.8

21.8

Net Profit Margin

6.05%

7.04%

5.80%

4.41%

3.55%

EBITDA

77.2

100.5

82.5

73.9

71.3

EBITDA Margin

11.94%

13.95%

12.75%

11.28%

11.63%

 

 

 

 

Cairo, 18 March 2020

Arabian Food Industries Company Domty S.A.E. (DOMT.CA on the Egyptian Exchange), Egypt's largest cheese manufacturer by market share, announced today its consolidated results for 4Q2018.

 

Domty achieved a net profit of EGP 39.1 million in 4Q2019, after achieving sales of  EGP 646.9 million, The net income for the year 2019 reached EGP 156.2 million compared to a net income of EGP 154.6 million for the year 2018.

 

Commenting on the 4rd quarter's performance, Domty CEO for Commercial affairs Mr. Ahmed Elkattan said: "The results of the fourth quarter came with a high growth in net profit, in line with the company's goals towards increasing the net profit margin.

 

 

We are happy with the results of 4Q2019, as the company was able to achieve a growth rate of 79% year on year, which reflects the strength of the company in implementing one of its most important goals, which is improving the net profit margin.

 

Domty also managed to increase the sales of the bakery sector by 80% compared to 3Q2019 as a result of installing and operating the second production line

 

 

On the other hand, the company continues to launch new products in tetrapak cheese segment in the Egyptian market, where we already launched new yellow feta cheese.

 

We are also continuing to implement the plan to develop the fresh cheese, mozzarella and creamy cheese categories, as we were able to fully utilize the current production capacities in both mozzarella and creamy cheese categories.

 

As for the juice category, we now hold the third place in terms of market share in Cairo, as a result of the juice sector sales & distribution restructure and enhancement.

 

He added that the year 2020 will witness new launches for the company, as we prepare to receive the third bakery line, which is expected to start production in the second quarter of this year, in addition to adding a new line of creamy cheese and another line of mozzarella plus further developing the new yellow cheese family via adding new variance/SKUs to this family.

 

 

 

 

 

 

·    Sales Revenue breakdown for 4Q2019:

 

Segment

Revenue (EGP mn)

Gross Margin By Segment

Cheese

450.6

26.21%

Juice

55

16.73%

Bakery

141.3

34.12%

Total  Revenues

646.9

26.87%

 

·    Consolidated Income Statement

 

(EGP mn)

FY2019

FY2018

Net Sales

2668.6

2589.9

Cost of Sales

1984.5-

1962.1-

Gross Profit

684.1

627.8

Gross Profit Margin

25.63%

24.24%

Sales & Marketing Expenses

388.7-

307-

General & Administrative Expenses

44 -

41.7-

Total SG&A

  432.7-

  348.7-

Other Income (Expenses)

23.5

22.5

Provisions (including reversals)

0.017-

1.2

Operating Profits

274.8

302.8

Operating Profit Margin

10.29%

11.69%

Net Interest Expense

63.09-

100.4-

Health insurance contribution

-6.9

-3.6

Net Profit Before Tax

204.8

198.8

Income Tax

-48.6

-44.2

Net Profit

156.2

154.6

Net Profit Margin

5.85%

5.97%

For viewing the full set of financials kindly visit domty.org

*****

About Arabian Food Industries Company Domty S.A.E.

Domty, founded in 1988and headquartered in Egypt, is a leader in the growing Egyptian cheese and juice market. The Company manufactures markets and distributes a range of branded white and processed cheeses and juice products, with a family of nearly 200 SKUs under a brand portfolio including Domty, Damo, Gebnety and Bravo. Domty is a household name and the number-one cheese producer in the nation by market share. The Company sells to tens of thousands of retail and business customers as well as to more than 46 export destinations. Learn more about Domty by visiting Domty.org

Contact

Ahmed Mohy Eldin
Investor Relations and Corporate Affairs Director
T: +202- 010 - 0555 2235| ahmed.mohy@domty.org



 


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