Zoujaj net profit surges to SAR 72.4 mln in H1 2022; Q2 at SAR 37.1 mln

27/07/2022 Argaam Exclusive

The National Co. for Glass Industries (Zoujaj) reported a net profit after Zakat and tax of SAR 72.4 million for the first half of 2022, a rise of over three times from SAR 19.8 million in the corresponding period last year.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 38.79 50.97 31.4 %
Gross Income 2.78 7.16 158.1 %
Operating Income (3.11) 0.68 121.9 %
Net Income 19.84 72.37 264.7 %
Average Shares 32.90 32.90 -
EPS (Riyals) 0.60 2.20 264.7 %

The increase in net profit was backed by the company’s higher profit share from associates operating in the float glass sector, in addition to better revenue and operating profit of the core glass container business activity.

 

In Q2 2022, net profit after Zakat and tax skyrocketed to SAR 37.1 million, compared to SAR 10 million a year earlier.

 

Sequentially, net profit jumped 5.2% from SAR 35.28 million.



Current Quarter Comparison (M)

Compared With The
Item Q2 2021 Q2 2022 Change‬
Revenues 16.75 22.70 35.5 %
Gross Income 0.64 2.29 255.9 %
Operating Income (2.78) (0.91) 67.2 %
Net Income 10.05 37.09 269.2 %
Average Shares 32.90 32.90 -
EPS (Riyals) 0.31 1.13 269.2 %

Total shareholders’ equity, after minority interest, rose to SAR 679.7 million as of June 30, 2022, from SAR 610.2 million a year earlier.

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Share Price

The National Company for Glass Industries
54.70
1.80 3.40 %

The National Company for Glass Industries (ZOUJAJ)

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Financial Ratios
Current
Market Cap (M Riyal) 1,799.63
Enterprise Value (EV) (M) 1,791.06
Shares Outstanding ((M)) 32.90
EPS ( Riyal) (TTM) 3.07
Book Value (BV) ( Riyal) 23.11
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 17.82
P/E (TTM) 17.82
Price/book 2.37
Return on Average Assets (%) (TTM) 12.5
Return on Average Equity (%) (TTM) 13.9
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