19 Mar 2020 17:39
Domty 4Q2019 net profit rose 79% year on year
_____Highlights of 4Q19_____
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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
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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 EldinInvestor Relations and Corporate Affairs DirectorT: +202- 010 - 0555 2235| ahmed.mohy@domty.org