Bawan’s net profit more than triples to SAR 90.2 mln in 2020

04/03/2021 Argaam Exclusive

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Bawan Co. reported net profit after Zakat and tax of SAR 90.2 million, an over three-fold increase in 2020, from a net profit of SAR 26.6 million a year earlier. The profit surge was driven by higher gross income and revenue, increased profit margins, along with a decline in finance costs and operating expenses.

The fourth-quarter net profit after Zakat and tax surged to SAR 29.9 million, from SAR 5.30 million in Q4 2019.

Shareholders’ equity, after minority rights, grew by 10.6% year-on-year (YoY) to SAR 692.52 million in 2020.

Financials (M)

Item	2019	2020	Change‬
Revenues	2,235.23	2,423.29	8.4 %
Gross Income	249.20	341.87	37.2 %
Operating Income	52.70	128.40	143.7 %
Net Income	26.63	90.17	238.6 %
Average Shares	60.00	60.00	-
EPS (Riyals)	0.44	1.50	238.6 %

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	593.66	709.46	19.5 %
Gross Income	62.00	113.49	83.0 %
Operating Income	4.37	41.57	851.1 %
Net Income	5.30	29.92	464.7 %
Average Shares	60.00	60.00	-
EPS (Riyals)	0.09	0.50	464.7 %

Item	Q3 2020	Q4 2020	Change‬
Revenues	548.78	709.46	29.3 %
Gross Income	86.93	113.49	30.5 %
Operating Income	36.41	41.57	14.2 %
Net Income	29.58	29.92	1.2 %
Average Shares	60.00	60.00	-
EPS (Riyals)	0.49	0.50	1.2 %

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