Astra profit spikes to SAR 474.3 mln in 2022; Q4 at SAR 85.7 mln

16/03/2023 Argaam Exclusive

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Astra Industrial Group’s net profit soared to SAR 474.3 million in 2022, from SAR 202.4 million in 2021.

Financials (M)

Item	2021	2022	Change‬
Revenues	2,330.20	2,594.15	11.3 %
Gross Income	894.53	1,040.05	16.3 %
Operating Income	326.29	420.85	29.0 %
Net Income	202.37	474.32	134.4 %
Average Shares	80.00	80.00	-
EPS (Riyals)	2.53	5.93	134.4 %

The robust performance was spurred by gains from discontinued operations and an increase in sales and gross profit from the pharmaceuticals, specialty chemicals and steel industries segments.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2021	Q4 2022	Change‬
Revenues	590.58	729.02	23.4 %
Gross Income	187.97	320.47	70.5 %
Operating Income	66.22	157.63	138.1 %
Net Income	51.79	85.66	65.4 %
Average Shares	80.00	80.00	-
EPS (Riyals)	0.65	1.07	65.4 %

Item	Q3 2022	Q4 2022	Change‬
Revenues	622.07	729.02	17.2 %
Gross Income	219.94	320.47	45.7 %
Operating Income	76.51	157.63	106.0 %
Net Income	70.87	85.66	20.9 %
Average Shares	80.00	80.00	-
EPS (Riyals)	0.89	1.07	20.9 %

In Q4 2022, net profit leapt 65% to SAR 85.7 million, from SAR 51.79 million in the prior-year period.

Net profit in Q4 2022 rose by 20.9% from SAR 70.87 million in Q3 2022.

Total shareholders’ equity, after minority interest, increased to SAR 1.84 billion as of Dec. 31, 2022, from SAR 1.45 billion a year earlier.

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