Tanmiah Food Co. announces its Interim Financial results for the Period Ending on 2025-06-30 ( Six Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 649.5 | 639.8 | 1.516 | 677.1 | -4.076 |
| Gross Profit (Loss) | 152.9 | 164.1 | -6.825 | 168.4 | -9.204 |
| Operational Profit (Loss) | 28.2 | 42.9 | -34.265 | 43.6 | -35.321 |
| Net profit (Loss) | 0.5 | 24 | -97.916 | 18.9 | -97.354 |
| Total Comprehensive Income | 0.5 | 24 | -97.916 | 18.9 | -97.354 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 1,326.6 | 1,221.2 | 8.63 |
| Gross Profit (Loss) | 321.3 | 308.5 | 4.149 |
| Operational Profit (Loss) | 71.8 | 82.3 | -12.758 |
| Net profit (Loss) | 19.4 | 45 | -56.888 |
| Total Comprehensive Income | 19.4 | 45 | -56.888 |
| Total Shareholders Equity (after Deducting Minority Equity) | 656.6 | 625.8 | 4.921 |
| Profit (Loss) per Share | 0.97 | 2.25 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | Tanmiah reported a 1.5% YoY increase in revenues to SAR 649.5 million in Q2 2025, reflecting the organic growth in Popeyes® Restaurant Operations and customer base growth related to the Animal Feed and Health Products, both largely offset by weaker revenues in Fresh Poultry as a result of lower selling prices despite volume increase. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The company recorded a net profit attributable to shareholders of the company of SAR 0.5 million in Q2 2025, a decrease of 97.9% compared to Q2 2024. The net profit decline primarily reflects pricing pressure on Fresh Poultry, rising fuel and electricity costs, higher Sales & Distribution (S&D) costs, higher financing costs, and to a lesser extent, a decrease in government subsidy. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Revenues decreased 4.1% in Q2 2025 to SAR 649.5 million, when compared to Q1 2025, primarily driven by pricing pressures stemming from a combination of increased imports to meet seasonal demand and higher local production, adding supply-side pressure |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The Company’s net profit attributable to shareholders decreased 97.4% to SAR 0.5 million, primarily due to pricing pressure on Fresh Poultry, higher fuel, electricity, S&D, and financing costs. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | Revenues increased 8.6% in H1 2025 to SAR 1,326.6 million compared to H1 2024. This was primarily driven by an increase in production volume in Fresh Poultry, largely offset by pricing pressures, growth in the customer base for Animal Feed and Health Products, and an expanded store footprint for the Popeyes® restaurant network. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Net profit attributable to the shareholders decreased 56.9% to SAR 19.4 million, compared to SAR 45.0 million in H1 2024. The decrease in net profit reflects rising fuel and electricity costs, pricing pressure on Fresh Poultry, higher S&D costs, higher financing costs, and to a lesser extent, a decrease in government subsidy. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | None |
| Reclassification of Comparison Items | None |
| Additional Information | Fresh Poultry revenue remained relatively stable, growing by 0.9% YoY to SAR 980.4 million, reflecting pricing pressures stemming from increased market inventory, driven by a combination of higher local production and sustained high levels of imports. The decline in the Average Selling Price (ASP) was partially offset by an increase in sales volumes.
Revenue in the Animal Feed and Health Products segment increased by 31.9% YoY to SAR 250.9 million in H1 2025. This strong performance was driven by customer base growth and an improved product and customer mix.
Restaurant Operations continued to build momentum, with revenue increasing 60.0% YoY to SAR 95.4 million in H1 2025, reflecting organic growth with a higher number of new stores.
The Company’s fast food franchise operations have continued their solid growth trajectory ever since the launch of POPEYES® in 2021, and Tanmiah is on track to expand its store network across the Kingdom, Bahrain and Kuwait. |
| Attached Documents |  |
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