SAIC 2021 net profit surges to SAR 91.1 mln; Q4 rises to SAR 25.6 mln

13/03/2022 Argaam Exclusive

Saudi Advanced Industries Co.’s (SAIC) net profit after Zakat and tax registered a nearly four-fold rise to SAR 91.1 million in 2021, compared to SAR 26.1 million in 2020.

 

The higher profit was due to an annual rise in profit shares from subsidiaries despite a fall in dividend distribution, as well as a reduction in Zakat expenses and financial costs. However, the firm reported an increase in general and administrative expenses and a decline in other revenues year-on-year (YoY).



Financials (M)

Item 2020 2021 Change‬
Revenues 36.78 101.48 175.9 %
Gross Income 36.78 101.48 175.9 %
Operating Income 29.07 92.58 218.5 %
Net Income 26.07 91.13 249.6 %
Average Shares 60.00 60.00 -
EPS (Riyals) 0.43 1.52 249.6 %

The company’s Q4 2021 net profit after Zakat and tax rose to SAR 25.6 million from SAR 5.5 million in the same period last year.

 

Sequentially, net profit fell 19.1% from SAR 31.67 million in Q3 2021.



Current Quarter Comparison (M)

Compared With The
Item Q4 2020 Q4 2021 Change‬
Revenues 9.75 26.57 172.6 %
Gross Income 9.75 26.57 172.6 %
Operating Income 7.66 24.03 213.9 %
Net Income 5.53 25.62 363.7 %
Average Shares 60.00 60.00 -
EPS (Riyals) 0.09 0.43 363.7 %

Total shareholders’ equity, excluding minority interest, rose 11.69% YoY to SAR 937.94 million.

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Share Price

Saudi Advanced Industries Co.
37.35
0.85 2.33 %

Saudi Advanced Industries Co. (SAIC)

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Financial Ratios
Current
Market Cap (M Riyal) 2,241.00
Enterprise Value (EV) (M) 1,746.76
Shares Outstanding ((M)) 60.00
EPS ( Riyal) (TTM) 5.45
Book Value (BV) ( Riyal) 20.33
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 6.88
P/E (TTM) 6.97
Price/book 1.84
Return on Average Assets (%) (TTM) 27.3
Return on Average Equity (%) (TTM) 29.5
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