Amwaj International Co., which will be listed on Nomu-Parallel Market, posted a 33% drop in net profit for the first nine months of 2021, from SAR 43 million in the year-ago period.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 322.40 | 243.75 | (24.4 %) |
| Gross Income | 63.10 | 51.89 | (17.8 %) |
| Operating Income | 47.10 | 36.35 | (22.8 %) |
| Net Income | 42.96 | 28.97 | (32.6 %) |
| Average Shares | 6.00 | 6.00 | - |
| EPS (Riyals) | 7.16 | 4.83 | (32.6 %) |
The lower profit was attributed to a 25% decline year-on-year (YoY) in sales of air conditioners, as well as refrigerators and freezers to SAR 199.9 million and SAR 22.8 million, respectively from SAR 245.9 million and SAR 54.7 million a year earlier.
The nine-month period of 2021 implied losses from the sale of assets and properties of Amwaj Middle East Co. for a total value of SAR 2.9 million.
In Q3 2021, net profit jumped 25% YoY to SAR 7.9 million, thanks to a 31% YoY rise in revenue.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 59.98 | 78.32 | 30.6 % |
| Gross Income | 11.27 | 15.71 | 39.4 % |
| Operating Income | 7.65 | 10.11 | 32.2 % |
| Net Income | 6.32 | 7.89 | 24.8 % |
| Average Shares | 6.00 | 6.00 | - |
| EPS (Riyals) | 1.05 | 1.31 | 24.8 % |
| Item | Q2 2021 | Q3 2021 | Change |
|---|
Shareholders equity, after minority interest, stood at SAR 93.97 million as of Sept. 30, 2021.
The sales of air conditioners accounted for 82% of total sales. Refrigeration’s and freezers followed with 9.4%, while washing machines and dryers (4.7%).
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