AMAK 2021 profit surges to SAR 197.3 mln; Q4 at SAR 62.7 mln

30/03/2022 Argaam Exclusive

View other reports

Al Masane Al Kobra Mining Co. (AMAK) reported a net profit after Zakat and tax of SAR 197.3 million in 2021, compared to SAR 88.8 million in the year-earlier period.

Financials (M)

Item	2020	2021	Change‬
Revenues	375.15	586.65	56.4 %
Gross Income	125.26	267.70	113.7 %
Operating Income	88.74	216.61	144.1 %
Net Income	88.80	197.27	122.1 %
Average Shares	90.00	90.00	-
EPS (Riyals)	0.99	2.19	122.1 %

The higher earnings were due to the commissioning of new Guyan Gold Mine and start of its commercial production in 2021. This led to an increase in gold sales by 176%, and higher average realized sales prices of all products during the year.

However, the company reported increase in costs and expenses due to the start of commercial production of gold mine. In addition, Zakat expenses increased.

The company’s Q4 2021 net profit after Zakat and tax climbed 8% to SAR 62.7 million from SAR 58.3 million in Q4 2020.

Sequentially, profit climbed 49.9% from SAR 41.82 million in Q3 2021.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	140.28	172.20	22.8 %
Gross Income	55.48	82.50	48.7 %
Operating Income	46.09	72.52	57.3 %
Net Income	58.25	62.74	7.7 %
Average Shares	90.00	90.00	-
EPS (Riyals)	0.65	0.70	7.7 %

Item	Q3 2021	Q4 2021	Change‬
Revenues	150.25	172.20	14.6 %
Gross Income	66.58	82.50	23.9 %
Operating Income	51.60	72.52	40.5 %
Net Income	41.82	62.74	50.0 %
Average Shares	90.00	90.00	-
EPS (Riyals)	0.46	0.70	50.0 %

Total shareholders’ equity, excluding minority interest, rose to SAR 648.4 million in 2021, from SAR 452 million in 2020.

View more financial results

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×