MOBI posts 7% decline in 2021 net profit to SAR 16.1 mln

30/03/2022 Argaam Exclusive

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National Fertilizer Co. (MOBI) posted a 7% drop in its net profit after Zakat and tax to SAR 16.1 million for 2021, compared to SAR 17.4 million a year earlier.

Financials (M)

Item	2020	2021	Change‬
Revenues	180.43	170.38	(5.6 %)
Gross Income	57.07	46.89	(17.8 %)
Operating Income	17.84	16.82	(5.7 %)
Net Income	17.38	16.13	(7.2 %)
Average Shares	50.00	50.00	-
EPS (Riyals)	0.35	0.32	(7.2 %)

The lower profit was attributed to higher costs of raw materials and shipping rates, in addition to an increase in the company’s promotions to gain a better market share.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2020	H2 2021	Change‬
Revenues	84.40	83.48	(1.1 %)
Gross Income	25.73	19.45	(24.4 %)
Operating Income	6.49	4.46	(31.3 %)
Net Income	6.33	3.92	(38.0 %)
Average Shares	50.00	50.00	-
EPS (Riyals)	0.13	0.08	(38.0 %)

Item	H1 2021	H2 2021	Change‬
Revenues	86.90	83.48	(3.9 %)
Gross Income	27.44	19.45	(29.1 %)
Operating Income	12.35	4.46	(63.9 %)
Net Income	12.21	3.92	(67.9 %)
Average Shares	50.00	50.00	-
EPS (Riyals)	0.24	0.08	(67.9 %)

Shareholders’ equity, after minority interest, grew by 8.6% to SAR 64.260 million as of Dec. 31, 2021, from SAR 59.194 million a year earlier

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