GASCO net profit surges to SAR 158.4 mln in 9M 2021

08/11/2021 Argaam Exclusive

National Gas and Industrialization Co. (GASCO) reported a net profit after Zakat and tax of SAR 158.4 million for the first nine months of 2021, nearly a two-fold increase compared to SAR 54.8 million in the same period last year.



Financials (M)

Item 9m 2020 9m 2021 Change‬
Revenues 1,462.24 1,423.67 (2.6 %)
Gross Income 167.76 196.84 17.3 %
Operating Income 21.12 58.23 175.7 %
Net Income 54.81 157.37 187.1 %
Average Shares 75.00 75.00 -
EPS (Riyals) 0.73 2.10 187.1 %

The company attributed the increase in net profit to lower cost of revenue and general & administrative expenses, higher share of results of associates and higher investment income.



Current Quarter Comparison (M)

Compared With The
Item Q3 2020 Q3 2021 Change‬
Revenues 453.71 444.77 (2.0 %)
Gross Income 44.04 58.01 31.7 %
Operating Income (3.89) 8.58 320.8 %
Net Income 17.03 36.45 114.0 %
Average Shares 75.00 75.00 -
EPS (Riyals) 0.23 0.49 114.0 %

The company reported a net profit of SAR 36.7 million for Q3 2021, a 115.8% year-on-year (YoY) increase.

 

On a sequential basis, net profit rose slightly from SAR 36.5 million in Q2 2021 on higher investment income, and lower Zakat expense and financing charges.

 

Shareholders’ equity, after minority interest, increased to SAR 1.6359 billion as of Sept. 30, 2021, from SAR 1.5616 billion a year earlier.

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Share Price

National Gas and Industrialization Co.
104.80
(1.20) (1.13 %)

National Gas and Industrialization Co. (GASCO)

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Financial Ratios
Current
Market Cap (M Riyal) 7,860.00
Enterprise Value (EV) (M) 7,694.02
Shares Outstanding ((M)) 75.00
EPS ( Riyal) (TTM) 3.08
Book Value (BV) ( Riyal) 26.01
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 33.99
P/E (TTM) 33.99
Price/book 4.03
Return on Average Assets (%) (TTM) 9.1
Return on Average Equity (%) (TTM) 12.2
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