Savola Group (2050)

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News

1 February 2022 10:47 AM Savola Group's profits slip 76% in 2021; dividends proposed

Riyadh – Mubasher: The net profits after Zakat and tax Savola Group plunged by 75.64% year-on-year (YoY) to SAR 221.9 million in 2021, compared to SAR 910.8 million, according to the company's interim financials for the period ended on 31 …

Cash Dividends

27 October 2021 03:59 PM Savola Group's profit down 45% in nine months

Riyadh – Mubasher: Savola Group reported SAR 476.2 million in net profits after Zakat and tax in the first nine months of 2021, down by 45% year-on-year (YoY) from SAR 866.1 million.  Earnings per share amounted to SAR 0.89 in the …

Financial Results

17 October 2021 00:30 PM Savola's unit completes acquisition of UAE's Bayara Holding

Riyadh – Mubasher: Savola Foods Company, a fully owned subsidiary of Savola Group, has completed the acquisition of 100% of the UAE-based Bayara Holding Limited in exchange for $260 million (SAR 975 million). The company completed the acquisition …

Companies Investments

12 September 2021 11:11 AM Savola registers SAR 14m in share buyback transaction

Riyadh – Mubasher: Savola Group has repurchased 349,076 shares at an average price of SAR 39.89 per share, completing the first tranche of its share buyback process. The total amount of the repurchased shares stood at SAR 13.92 million, according …

Corporate Actions

4 August 2021 00:05 PM Savola Group registers 39% lower profits in H1-21

Riyadh – Mubasher: Savola Group posted an annual decrease of 39% in net profits after Zakat and tax to SAR 353.8 million in the first half (H1) of 2021 from SAR 582.3 million in H1-20. Earnings per share stood at SAR 0.66 in H1-21, compared to SAR …

Financial Results

11 July 2021 03:18 PM Saudi Savola’s subsidiary acquires 100% of UAE-based Bayara

Riyadh – Mubasher: Savola Foods Company, a fully owned subsidiary of Savola Group, has signed a binding agreement to acquire 100% of the UAE firm Bayara Holding Limited. The transaction is valued at $260 million (SAR 975 million), which will be …

Companies Investments

29 April 2021 11:28 AM Savola’s shareholders nod to SAR 400.5m dividends

Riyadh – Mubasher: The shareholders of Savola Group have approved the board’s recommendation to distribute cash dividends at a total amount of SAR 400.5 million, which represents 7.5% of the capital, for 2020. The company will pay SAR 0.75 per …

General Assembly

7 February 2021 04:51 PM Savola Group eyes acquisitions of food companies in Egypt, other markets

By: Fahd Omran Riyadh – Mubasher: Savola Group ended 2020 with robust financial results on the back of strong sales in the Saudi and Egyptian markets in the first year of its 2020/2024 plan, Mohamed Badran, the CEO of Savola Foods Egypt, said. …

Mergers and Acquisitions

27 January 2021 04:11 PM Savola Group profits tumble 67% in Q4; dividends proposed

Riyadh – Mubasher: Savola Group’s fourth-quarter net profits totalled SAR 44.7 million, down by 67.4% on a year-on-year (YoY) basis. The decrease in Savola’s quarterly profit is attributed to lower gross profit due to slightly lower sales and …

Board of Directors

15 November 2020 01:48 PM Food sector profits in KSA grow 13.8% in Q3

Riyadh – Mubasher: Net earnings of eleven Tadawul-listed food companies grew by 13.8% or SAR 107.39 million on a year-on-year (YoY) basis in the third quarter (Q3) of 2020. Combined profits of the Saudi food sector netted SAR 885.81 million in the …

Financial Results

28 October 2020 03:56 PM Savola Group profits up 28% in Q3

Riyadh – Mubasher: Savola Group achieved net profits of SAR 283.7 million during the third quarter (Q3) of 2020, up by 27.9% yearly from SAR 221.8 million in the year-ago period. The increase is earnings is attributed to a higher share of profit …

Financial Results

14 September 2020 09:53 AM Savola Group buys back 341.7K shares for SAR 16.5m

Riyadh – Mubasher: Savola Group completed on 13 September the buy-back of the intended number of its shares specified for the purpose of the Employees’ Long-Term Incentive Program (LTIP). The group bought 341,675 shares for SAR 16.508 million as …

Companies Investments

16 August 2020 10:19 AM Savola Group reports 271% higher Q2 profit

Riyadh – Mubasher: Savola Group registered SAR 409.6 million worth of net profits in the second quarter (Q2) of 2020, a leap of 271.69% from SAR 110.2 million in the corresponding quarter in the previous year. Revenues recorded SAR 6 billion in …

Financial Results

30 April 2020 01:17 PM Savola Group’s earnings skyrocket to SAR 173m in Q1-20

Riyadh – Mubasher: Savola Group achieved SAR 172.8 million worth of net earnings in the first quarter (Q1) of 2020, significantly up by 2,643% from SAR 6.3 million in Q1-19. The positive results are owed to higher sales and profit margins in the …

Financial Results

30 April 2020 01:11 PM Savola Group approves FY19 dividends; buys back 700K shares

Riyadh – Mubasher: The extraordinary general meeting (EGM) of Savola Group has approved the propose dividend distribution of SAR 160.2 million or SAR 0.3 per share for fiscal year (FY) 2019. The dividends will be distributed to the equity holders …

Cash Dividends

18 March 2020 11:27 AM Savola Group posts SAR 475.6m in 2019 profits

Riyadh – Mubasher: Savola Group has reported SAR 475.6 million in net profit last year, versus losses of SAR 520.4 million for 2018, as shown by the annual financial results for 2019. This resulted from a substantially enhanced performance with …

Financial Results

29 January 2020 05:30 PM Savola turns profitable in 2019; plans SAR 0.3/shr dividends

Riyadh – Mubasher: Savola Group on Wednesday announced the interim financial results for the 12-month period ended on 31 December 2019. Savola achieved a net profit after Zakat and tax of SAR 475.6 million last year, versus losses of SAR 520.4 …

Financial Results

20 November 2019 00:14 PM Savola tops Tadawul-listed firms turning profitable in Q3

By: Thabet Shehata Riyadh – Mubasher: The financial statements for the third quarter (Q3) of 2019 showed that 25 companies listed on the Saudi Stock Exchange (Tadawul) turned to profits between June and September, achieving SAR 711 million, …

Sector Reports

28 October 2019 05:09 PM Savola Group turns to profit in Q3-19

Riyadh – Mubasher: The financial statements of Savola Group showed a turn to profit at a value of SAR 221.8 million during the third quarter of 2019, versus a loss worth SAR 51 million a year earlier. On a quarterly basis, profits of the period …

Company News

28 August 2019 09:38 PM Al Rajhi Capital sets TP of Savola at SAR 30

Riyadh – Mubasher: Al Rajhi Capital has set the target price of the Tadawul-listed company Savola Group at SAR 30, with a ‘Neutral’ recommendation. The research firm based its decision on Savola’s loss of market share and the closure of some of …

Stock Evaluations

20 August 2019 04:17 PM Savola logs SAR 117m profits in 6M

Riyadh – Mubasher: Savola Group reported its interim financial results for the second quarter of 2019. Net profits after zakat and tax plunged by 21.6% to SAR 110.2 million in Q2-19, compared to SAR 140.7 million in Q2-18, according to the …

Financial Results

9 July 2019 09:46 PM Savola Group issues SAR 1bn sukuk

Riyadh – Mubasher: Savola Group on Tuesday announced that it had raised SAR 1 billion ($267 million) in sukuk, according to Reuters. Arranged by HSBC’s Saudi unit, the sukuk sales offered investors a profit rate equivalent to 160 basis points over …

Board of Directors

18 June 2019 04:42 PM Savola to start offering its 1st issuance of sukuk

Riyadh – Mubasher: Savola Group will start offering its first sukuk issuance under the Sukuk Program on Wednesday, 19 June. Ending on 31 August, the sukuk are offered by way of a private placement, according to a filing to the Saudi Stock Exchange …

Macroeconomics

14 May 2019 09:59 AM MSCI adds 30 Saudi companies to EM Index

Riyadh – Mubasher: MSCI Inc. has added the MSCI Saudi Arabia index to its emerging-markets index (EM Index), according to MSCI’s semi-annual index review. The US-based index compiler said the stocks of 30 Saudi firms will be added, accounting for …

Trading Activities

9 May 2019 11:01 AM Savola to launch SAR-denominated sukuk programme

Riyadh – Mubasher: The Savola Group Company (Savola) plans to establish a Sukuk Programme and issue sukuk thereunder either directly or through launching a special purpose vehicle (SPV). The SPV will be established inside or outside of Saudi …

Sukuk and Islamic Finance