Financial Results : Zoujaj turns to SAR 2.1 mln profit in 2020

Zoujaj turns to SAR 2.1 mln profit in 2020

14/03/2021 Argaam Exclusive

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The National Company for Glass Industries (Zoujaj) turned to a net profit after Zakat and tax of SAR 2.1 million in 2020, compared to a net loss of SAR 31.3 million in 2019.



Financials (M)

Item 2019 2020 Change‬
Revenues 74.86 73.31 (2.1 %)
Gross Income 5.34 (2.26) (142.2 %)
Operating Income (6.24) (14.87) (138.5 %)
Net Income (31.32) (11.04) 64.8 %
Average Shares 32.90 32.90 -
EPS (Riyals) (0.95) (0.34) 64.8 %

The company attributed the performance to lower expenses on permanent closure of Dammam plant, writing off a non-routine loan of SAR 20.4 million, and a reversal of SAR 10.7 million provisions for investment loss related to the associated firm - the Saudi National Lamps and Electricals Company Limited (SANLEC).

 

Zoujaj posted a net profit after Zakat and tax of SAR 7.2 million in Q4 2020, compared to a loss of SAR 27.95 million in Q4 2019.



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 14.91 15.96 7.0 %
Gross Income (0.65) (5.74) (778.7 %)
Operating Income (4.07) (10.56) (159.5 %)
Net Income (27.97) (5.89) 78.9 %
Average Shares 32.90 32.90 -
EPS (Riyals) (0.85) (0.18) 78.9 %

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