Shaker net profit rises to SAR 27.4 mln in 2021; Q4 earnings at SAR 317,000

16/03/2022 Argaam Exclusive

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Al Hassan Ghazi Ibrahim Shaker Co. reported a net profit after Zakat and tax of SAR 27.4 million for 2021, a 269% increase from SAR 9.5 million in the year-earlier period.

Financials (M)

Item	2020	2021	Change‬
Revenues	932.70	1,002.74	7.5 %
Gross Income	195.56	215.57	10.2 %
Operating Income	(2.41)	34.50	1529.0 %
Net Income	7.43	27.42	269.3 %
Average Shares	55.50	55.50	-
EPS (Riyals)	0.13	0.49	269.3 %

The profit rise was attributed to higher revenue driven by enhanced sales strategy, which resulted in maximizing sales in all core segments such as home appliances, ACs, B2B and ESCO.

In Q4 2021, the company turned to a profit of SAR 317,000 from a net loss of SAR 85,000 a year earlier.

Sequentially, net profit fell more than 97% from SAR 12.03 million in Q3 2021.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	196.49	165.76	(15.6 %)
Gross Income	41.41	39.57	(4.5 %)
Operating Income	(9.22)	4.15	145.0 %
Net Income	(0.85)	0.32	137.3 %
Average Shares	55.50	55.50	-
EPS (Riyals)	(0.02)	0.01	137.3 %

Item	Q3 2021	Q4 2021	Change‬
Revenues	260.12	165.76	(36.3 %)
Gross Income	57.15	39.57	(30.8 %)
Operating Income	12.51	4.15	(66.8 %)
Net Income	12.03	0.32	(97.4 %)
Average Shares	55.50	55.50	-
EPS (Riyals)	0.22	0.01	(97.4 %)

Total shareholders’ equity, after minority interest, grew by 8.4% to SAR 622.94 million as of Dec. 31, 2021, from SAR 595.38 million a year earlier.

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