Al-Jouf Mineral Water’s 2022 net profit grows by 22% to SAR 5.7 mln

30/03/2023 Argaam Exclusive

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Al-Jouf Mineral Water Bottling Co. reported a net profit after Zakat and tax of SAR 5.7 million in 2022, an increase of 22% from SAR 4.7 million in the prior-year period.

Financials (M)

Item	2021	2022	Change‬
Revenues	67.63	73.98	9.4 %
Gross Income	34.24	30.59	(10.7 %)
Operating Income	5.27	6.75	27.9 %
Net Income	4.70	5.74	22.1 %
Average Shares	4.69	4.69	-
EPS (Riyals)	1.00	1.22	22.1 %

This was triggered by a 9.39% year-on-year (YoY) sales growth during the period.

In addition, the company is relying on the retail and homes businesses despite higher cost of raw materials.

Accordingly, sales improved amid lower selling and distribution expenses as well as general and administrative expenses.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2021	H2 2022	Change‬
Revenues	35.10	37.89	8.0 %
Gross Income	17.32	12.05	(30.4 %)
Operating Income	2.52	3.83	52.3 %
Net Income	2.11	2.93	39.2 %
Average Shares	4.69	4.69	-
EPS (Riyals)	0.45	0.63	39.2 %

Item	H1 2022	H2 2022	Change‬
Revenues	36.08	37.89	5.0 %
Gross Income	18.53	12.05	(35.0 %)
Operating Income	2.91	3.83	31.5 %
Net Income	2.81	2.93	4.4 %
Average Shares	4.69	4.69	-
EPS (Riyals)	0.60	0.63	4.4 %

Total shareholders’ equity, excluding minority interest, stood at SAR 83.159 million by the end of 2022, compared to SAR 57.951 million in the year-earlier period.

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