Saudi Ceramic Co. (Saudi Ceramics) reported a net profit after Zakat and tax of SAR 233.9 million for 2021, a surge of over three times from SAR 77.7 million a year earlier.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 1,516.06 | 1,534.77 | 1.2 % |
| Gross Income | 391.93 | 528.26 | 34.8 % |
| Operating Income | 126.64 | 254.28 | 100.8 % |
| Net Income | 77.70 | 233.79 | 200.9 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.97 | 2.92 | 200.9 % |
The company attributed the profit rise to improved profit margins, due to higher prices and lower cost of goods sold.
The current year also witnessed an increase in other revenue, in addition to a drop in financing costs on the partial repayment of the loans and the restructuring of financing.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 367.69 | 378.23 | 2.9 % |
| Gross Income | 96.57 | 126.06 | 30.5 % |
| Operating Income | 35.19 | 51.83 | 47.3 % |
| Net Income | 28.04 | 47.11 | 68.0 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.35 | 0.59 | 68.0 % |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 360.15 | 378.23 | 5.0 % |
| Gross Income | 117.77 | 126.06 | 7.0 % |
| Operating Income | 58.07 | 51.83 | (10.7 %) |
| Net Income | 52.40 | 47.11 | (10.1 %) |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.65 | 0.59 | (10.1 %) |
In Q4 2021, the ceramic and tile producer posted a net profit after Zakat and tax of SAR 47.2 million, up 68% year-on-year (YoY).
On a sequential basis, Q4 net profit fell 10.1% from SAR 52.4 million.
Shareholders’ equity, excluding minority interest, rose by 12.5% to SAR 1.671 billion in 2021, from SAR 1.485 billion a year earlier.
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