Saudi Vitrified Clay Pipes Co. reported a net loss after Zakat and tax of SAR 2.1 million for 2021, versus a net profit of SAR 10.7 million a year earlier, driven by lower sales and higher cost of sales.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 123.37 | 88.72 | (28.1 %) |
| Gross Income | 39.97 | 21.50 | (46.2 %) |
| Operating Income | 13.04 | (1.08) | (108.3 %) |
| Net Income | 10.68 | (2.06) | (119.3 %) |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | 0.71 | (0.14) | (119.3 %) |
Q4 2021 net profit slumped 42% year-on-year (YoY) to SAR 870,000.
The company swung to net profit in Q4 compared to a loss of SAR 1.76 million in the third quarter.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 26.70 | 21.11 | (20.9 %) |
| Gross Income | 8.59 | 5.53 | (35.6 %) |
| Operating Income | 1.48 | 0.30 | (80.0 %) |
| Net Income | 1.50 | 0.91 | (39.3 %) |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | 0.10 | 0.06 | (39.3 %) |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 20.19 | 21.11 | 4.6 % |
| Gross Income | 4.43 | 5.53 | 24.8 % |
| Operating Income | (1.52) | 0.30 | 119.5 % |
| Net Income | (1.76) | 0.91 | 151.7 % |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | (0.12) | 0.06 | 151.7 % |
Total shareholders’ equity excluding minority interest dropped 0.7% YoY to SAR 277 million for 2021.
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