Al Yamamah Steel Industries Co. reported a net profit after Zakat and tax of SAR 34 million for the first quarter ended Dec. 31, 2021, a 20% decline, compared to SAR 42.7 million a year earlier.
The earnings decreased on higher raw material prices and lower sales in the construction segment.
The steel manufacturer’s net profit after Zakat and tax was 15.1% lower compared to the previous quarter, driven by higher raw material prices and lower selling prices of some products.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 434.87 | 464.24 | 6.8 % |
| Gross Income | 79.24 | 66.20 | (16.5 %) |
| Operating Income | 60.65 | 45.87 | (24.4 %) |
| Net Income | 42.67 | 34.01 | (20.3 %) |
| Average Shares | 50.80 | 50.80 | - |
| EPS (Riyals) | 0.84 | 0.67 | (20.3 %) |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 325.63 | 464.24 | 42.6 % |
| Gross Income | 80.15 | 66.20 | (17.4 %) |
| Operating Income | 57.19 | 45.87 | (19.8 %) |
| Net Income | 40.08 | 34.01 | (15.1 %) |
| Average Shares | 50.80 | 50.80 | - |
| EPS (Riyals) | 0.79 | 0.67 | (15.1 %) |
Total shareholders’ equity, excluding minority interests, increased nearly 9% to SAR 746.54 million as of Dec. 31, 2021, compared to SAR 685.19 million a year earlier
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