Operational Review
First Milling Company sells the flour in the form of packs or bulk, with the packs ranging in size from 1kg to 45kg. The Company produces the following classes of flour:
Extraction Rate
For the confectionery, pastry and bakery
Extraction Rate
For making Arabic bread and other traditional and Western baking products
Extraction Rate
For making whole meal bread
Extraction Rate
For making special traditional meals
| Year | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Flour Revenues (SAR Million) | 438.2 | 469.9 | 494.8 | 507.4 | 552.9 |
| Annual Milling Installed Capacity (Ton) | 1,348,200 | 1,348,200 | 1,348,200 | 1,348,200 | 1,476,600 |
| Actual Tons of Grinded Wheat (Ton) | 1,063,869 | 1,103,404 | 1,184,740 | 1,310,309 | 1,355,336 |
| Installed Milling Capacity Utilization | 79% | 82% | 88% | 88% | 89% |
| Superior Flour 70% | 14% | 15% | 15% | 12% | 13% |
| Bakery Flour 80% | 79% | 77% | 78% | 81% | 80% |
| Brown Flour 95% | 7% | 8% | 7% | 7% | 7% |
| Gross Flour Production (Ton) | 830,872 | 857,243 | 903,765 | 987,810 | 1,031,400 |
The Company also produces other wheat derivatives (mainly composed of animal bran) from the byproducts of the milling process. The bran product portfolio of First Milling Company includes:
The contribution of sales of bran and wheat derivatives to the revenues of First Milling Company has witnessed significant growth in the last five years, as the percentage jumped to 12% in 2023G to reach SAR 140.31 million.
First Milling Company produces flour and other wheat derivatives such as bran in all Company’s four plants with a total production capacity of 4,900 tons/day.
| Year | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Bran Revenues and Wheat Derivatives (SAR Million) | 79.63 | 68.41 | 83.65 | 132.55 | 140.31 |
(In SAR Million)
The Company prides itself on producing high-quality animal feed products, with animal health and safety in mind as a top priority. The production of animal feed is highly efficient and performs a great synergetic role in the offering of the Company. These animal feed products are offered in large packs (50kg) and are typically sold to feed producers, feed traders and cooperatives dealing with animal breeders across the Kingdom. The Feed Portfolio of First Milling Company includes:
| Year | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Feed Revenues (In SAR Million) | 126.10 | 178.01 | 222.50 | 273.67 | 271.05 |
(In SAR Million)
