Astra 2021 profit rises 75% to SAR 202.4 mln; Q4 earnings at SAR 51.8 mln

02/03/2022 Argaam Exclusive

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Astra Industrial Group posted a net profit after Zakat and tax of SAR 202.4 million in 2021, a rise of 75% compared with SAR 115.4 million a year earlier.

Financials (M)

Item	2020	2021	Change‬
Revenues	2,047.88	2,330.20	13.8 %
Gross Income	802.62	894.53	11.5 %
Operating Income	212.44	326.29	53.6 %
Net Income	115.44	202.37	75.3 %
Average Shares	80.00	80.00	-
EPS (Riyals)	1.44	2.53	75.3 %

The company attributed the profit growth to higher sales in the power and steel sectors as well as specialty chemicals sector, in addition to higher gross profit in all sectors.

Astra also cited the decrease in provision for impairment of financial assets in the pharmaceuticals sector.

This was despite an increase in the other expenses of the pharmaceuticals sector as well as higher general and administrative expenses of the pharmaceuticals and specialty chemicals sectors.

Q4 earnings leapt 37% year-on-year (YoY) to SAR 51.8 million from SAR 37.92 million.

Compared to the previous quarter, Q4 earnings increased 14.1% from SAR 45.37 million in Q3 2021.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	663.02	590.58	(10.9 %)
Gross Income	250.32	187.97	(24.9 %)
Operating Income	76.56	66.22	(13.5 %)
Net Income	37.92	51.79	36.6 %
Average Shares	80.00	80.00	-
EPS (Riyals)	0.47	0.65	36.6 %

Item	Q3 2021	Q4 2021	Change‬
Revenues	611.99	590.58	(3.5 %)
Gross Income	243.18	187.97	(22.7 %)
Operating Income	71.85	66.22	(7.8 %)
Net Income	45.37	51.79	14.1 %
Average Shares	80.00	80.00	-
EPS (Riyals)	0.57	0.65	14.1 %

Total shareholders’ equity, after minority interest, amounted to SAR 1.451 billion at the end of the period, a rise of 9.48% compared with SAR 1.325 billion a year earlier.

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