Nama Chemicals H1 2022 net profit surges to SAR 60.1 mln; Q2 at SAR 26.7 mln

31/07/2022 Argaam Exclusive

Nama Chemicals Co.’s net profit after Zakat and tax more than tripled to SAR 60.1 million in H1 2022, compared to SAR 19.5 million a year earlier, driven by higher average profit margin of some end products, and a decline in Zakat provisions. The net profit rose despite lower sales volumes.  



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 285.65 327.70 14.7 %
Gross Income 62.91 103.42 64.4 %
Operating Income 22.31 63.60 185.0 %
Net Income 19.54 60.08 207.4 %
Average Shares 23.52 23.52 -
EPS (Riyals) 0.83 2.55 207.4 %

The second-quarter net profit after Zakat and tax more than doubled to SAR 26.7 million, from SAR 9.57 million in Q2 2021. The profit surge was backed by improved average profit margins of some end products, and lower Zakat provisions.



Current Quarter Comparison (M)

Compared With The
Item Q2 2021 Q2 2022 Change‬
Revenues 122.83 154.89 26.1 %
Gross Income 28.91 51.38 77.7 %
Operating Income 9.48 30.81 225.1 %
Net Income 9.57 26.67 178.6 %
Average Shares 23.52 23.52 -
EPS (Riyals) 0.41 1.13 178.6 %

Compared to Q1 2022, the company’s net profit fell 20.2% from SAR 33.41 million, hurt by lower sales volumes, a decline in the profit margins of some end products, along with higher general and administrative expenses.

 

Shareholders’ equity, after minority interest, grew by 21.4% to SAR 392.84 million by the end of H1 2022, from SAR 323.597 million in the year-earlier period.

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Share Price

Nama Chemicals Co.
25.75
0.35 1.38 %

Nama Chemicals Co. (NAMA CHEMICALS)

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Financial Ratios
Current
Market Cap (M Riyal) 605.64
Enterprise Value (EV) (M) 1,128.77
Shares Outstanding ((M)) 23.52
EPS ( Riyal) (TTM) (3.76)
Book Value (BV) ( Riyal) 10.56
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 2.44
Return on Average Assets (%) (TTM) (8.13 )
Return on Average Equity (%) (TTM) (30.05 )
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