Baazeem 2021 profit falls 18% to SAR 21.6 mln; Q4 at SAR 2.7 mln

13/03/2022 Argaam Exclusive

Baazeem Trading Co. reported an 18% drop in 2021 net profit after Zakat and tax to SAR 21.6 million, compared to SAR 26.3 million a year earlier. 

 

The lower profit was attributed to a decline in sales and Zakat differences of SAR 2.27 million for the period from 2014 to 2018, which was charged to the 2021 Zakat expenses.

 

The founders’ also paid SAR 2.78 million, or 55% of total Zakat claims for the same period, which offset the financial impact on the company’s net profit.



Financials (M)

Item 2020 2021 Change‬
Revenues 285.48 259.91 (9.0 %)
Gross Income 110.72 96.98 (12.4 %)
Operating Income 32.39 27.86 (14.0 %)
Net Income 26.27 21.55 (18.0 %)
Average Shares 101.25 101.25 -
EPS (Riyals) 0.26 0.21 (18.0 %)

The fourth-quarter net profit after Zakat and tax dipped 54.4% year-on-year to SAR 2.7 million.

 

Compared to Q3 2021, net profit dipped 35.9% from SAR 4.18 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2020 Q4 2021 Change‬
Revenues 66.86 61.18 (8.5 %)
Gross Income 26.89 22.01 (18.1 %)
Operating Income 7.10 5.72 (19.4 %)
Net Income 5.88 2.68 (54.4 %)
Average Shares 101.25 101.25 -
EPS (Riyals) 0.06 0.03 (54.4 %)

Shareholders’ equity, after minority interest, edged up 1.5% to SAR 194.08 million in 2021, from SAR 191.20 million in 202.

 

The company incurred actuarial losses of SAR 950,236 on re-evaluating employee benefits as of Dec. 31, 2021.

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Share Price

Baazeem Trading Co.
6.80
0.06 0.89 %

Baazeem Trading Co. (BAAZEEM)

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Financial Ratios
Current
Market Cap (M Riyal) 688.50
Enterprise Value (EV) (M) 674.84
Shares Outstanding ((M)) 101.25
EPS ( Riyal) (TTM) 0.22
Book Value (BV) ( Riyal) 1.92
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 30.99
P/E (TTM) 30.99
Price/book 3.55
Return on Average Assets (%) (TTM) 9.1
Return on Average Equity (%) (TTM) 11.6
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