First Milling Co. announces its Interim Financial results for the Period Ending on 2025-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 283,596,100 | 276,448,595 | 2.585 | 268,845,722 | 5.486 |
| Gross Profit (Loss) | 123,245,301 | 125,553,941 | -1.838 | 119,612,292 | 3.037 |
| Operational Profit (Loss) | 94,662,179 | 94,385,332 | 0.293 | 82,413,685 | 14.862 |
| Net profit (Loss) | 79,664,205 | 77,721,625 | 2.499 | 66,394,274 | 19.986 |
| Total Comprehensive Income | 75,589,606 | 81,290,103 | -7.012 | 68,362,054 | 10.572 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 951,963,268 | 888,350,474 | 7.16 |
| Profit (Loss) per Share | 1.44 | 1.4 | |
| All figures are in (Actual) 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 (Actual) 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 | Revenue increased by 2.6%, reaching SAR 283.6 million in the current quarter, up by SAR 7.1 million compared to SAR 276.4 million for the same quarter last year, with growth primarily driven by the following:
1) The sales growth in Flour by 5.1%, driven by the increase in demand as well as the Ramadan Season, and the continuous growth in Feed by 3.2%, however, Bran sales declined by -10% compared to the same quarter last year as a result of the Company’s decision to prioritize Feed production to meet rising demand.
2) Gross Profit slightly decreased by -1.8%, to SAR 123.2 million compared to SAR 125.6 million in the corresponding quarter last year, and this is mainly due to the competitiveness of Bran and Feed prices resulting in a slowdown in demand.
3) Operating Profit remained at the same level as last year's same quarter in total, with a slight increase in selling and distribution costs that was offset by the decrease in the general and administrative costs.
As a result of the above, the net profit margin remained at a strong level of 28% of revenue. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Net profit increased by 2.5% in the current quarter compared to the same quarter last year, reaching SAR 79.7 million, up by SAR 1.9 million from SAR 77.7 million, mainly due to the increase in revenue by SAR 7.1 million as a result of the growth in the sales of Flour and Feed along with the decrease in the finance costs. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Revenue increased by 5.5%, reaching SAR 283.6 million in the current quarter, up by SAR 14.8 million compared to SAR 268.8 million for the previous quarter, with growth primarily driven by the following:
1) The strong sales growth in the Bran category, which grew by 17.1% due to the rising demand. Flour Sales also witnessed a strong growth compared to the previous quarter of 10.2%, driven by the increase in demand as well as the Ramadan Season. Feed, however, declined by -6.7% compared to the previous quarter as a result of the Company’s decision to prioritize Bran sales. 2) Gross Profit increased by 3%, reaching SAR 123.2 million compared to SAR 119.6 million in the previous quarter. This was mainly driven by higher revenue growth while maintaining cost leadership and improved product mixes. 3) Operating Profit increased by 14.9% to reach SAR 94.7 million compared to SAR 82.4 million in the previous quarter. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | Net profit increased by 20% in the current quarter compared to the previous quarter, reaching SAR 79.7 million, up by SAR 13.3 million from SAR 66.4 million, mainly due to the increase in revenue by SAR 14.8 million as a result of the growth in the sales of Bran and Flour along with the improvement in the product mixes, and the ongoing efficiency in maintaining cost leadership. |
| 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 | Not applicable |
| Additional Information | For more information, please contact the First Mills Investors Relations Department at the email: IR@firstmills.com |
Comments