MOBI 2022 profit dips 14% to SAR 13.9 mln

30/03/2023 Argaam Exclusive

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MOBI Industry Co. reported a 14% profit drop to SAR 13.9 million in 2022, from SAR 16.1 million in 2021.

Financials (M)

Item	2021	2022	Change‬
Revenues	170.38	182.39	7.1 %
Gross Income	46.89	47.21	0.7 %
Operating Income	16.82	13.87	(17.5 %)
Net Income	16.13	13.92	(13.7 %)
Average Shares	50.00	50.00	-
EPS (Riyals)	0.32	0.28	(13.7 %)

The fertilizer producer cited an increase in the cost of sales by 2.43% year-on-year (YoY) and in administrative expenses. Finance cost also rose by 232.63% YoY.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2021	H2 2022	Change‬
Revenues	83.48	84.63	1.4 %
Gross Income	19.45	22.64	16.4 %
Operating Income	4.46	4.69	5.1 %
Net Income	3.92	4.45	13.4 %
Average Shares	50.00	50.00	-
EPS (Riyals)	0.08	0.09	13.4 %

Item	H1 2022	H2 2022	Change‬
Revenues	97.76	84.63	(13.4 %)
Gross Income	24.57	22.64	(7.9 %)
Operating Income	9.19	4.69	(48.9 %)
Net Income	9.48	4.45	(53.1 %)
Average Shares	50.00	50.00	-
EPS (Riyals)	0.19	0.09	(53.1 %)

Total shareholders’ equity, no minority interest, increased to SAR 66.12 million as of Dec. 31, 2022, from SAR 64.26 million a year earlier.

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