National Building and Marketing Co. (NBM) reported a net profit of SAR 46.8 million in 2022, a drop of 36% from SAR 73.4 million in the year-earlier period.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 678.42 | 652.19 | (3.9 %) |
| Gross Income | 95.95 | 70.17 | (26.9 %) |
| Operating Income | 80.00 | 48.43 | (39.5 %) |
| Net Income | 73.40 | 38.74 | (47.2 %) |
| Average Shares | 12.00 | 12.00 | - |
| EPS (Riyals) | 6.12 | 3.23 | (47.2 %) |
Earnings were impacted by lower profits from the steel division on decreased selling prices. This is in addition to a year-on-year (YoY) decline in sales from the construction segment from SAR 270 million to SAR 160 million.
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 216.78 | 165.25 | (23.8 %) |
| Gross Income | 26.59 | 0.54 | (98.0 %) |
| Operating Income | 23.13 | (6.00) | (126.0 %) |
| Net Income | 20.18 | (11.51) | (157.0 %) |
| Average Shares | 12.00 | 12.00 | - |
| EPS (Riyals) | 1.68 | (0.96) | (157.0 %) |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 148.05 | 165.25 | 11.6 % |
| Gross Income | 25.89 | 0.54 | (97.9 %) |
| Operating Income | 20.69 | (6.00) | (129.0 %) |
| Net Income | 18.35 | (11.51) | (162.7 %) |
| Average Shares | 12.00 | 12.00 | - |
| EPS (Riyals) | 1.53 | (0.96) | (162.7 %) |
Q4 2022 net loss amounted to SAR 3.41 million, versus a net profit of SAR 20.18 million in the year-earlier period.
On a quarterly basis, NBM turned to losses from a net profit of SAR 18.35 million in Q3 2022.
Total shareholders’ equity, excluding minority interest, stood at SAR 273.36 million as of Dec. 31, 2022, compared to SAR 228.00 million a year ago.
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