Natural Gas Distribution’s 2021 profit falls 44% to SAR 2.5 mln

31/03/2022 Argaam Exclusive

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Natural Gas Distribution Co.’s net profit after Zakat and tax dropped 44% to SAR 2.5 million, from SAR 4.4 million, due to an increase in the cost of revenues, general & administrative expenses, and financing costs. In addition, other revenues decreased compared to 2020.

Financials (M)

Item	2020	2021	Change‬
Revenues	89.25	89.59	0.4 %
Gross Income	9.55	8.43	(11.7 %)
Operating Income	4.68	2.85	(39.3 %)
Net Income	4.42	2.48	(43.9 %)
Average Shares	5.00	5.00	-
EPS (Riyals)	0.88	0.50	(43.9 %)

Current Half Annual Comparison (M)

Compared With The

Item	H2 2020	H2 2021	Change‬
Revenues	44.76	44.66	(0.2 %)
Gross Income	4.74	4.12	(13.3 %)
Operating Income	2.17	1.52	(29.8 %)
Net Income	1.94	1.25	(35.3 %)
Average Shares	5.00	5.00	-
EPS (Riyals)	0.39	0.25	(35.3 %)

Item	H1 2021	H2 2021	Change‬
Revenues	44.93	44.66	(0.6 %)
Gross Income	4.32	4.12	(4.7 %)
Operating Income	1.32	1.52	14.8 %
Net Income	1.23	1.25	1.9 %
Average Shares	5.00	5.00	-
EPS (Riyals)	0.25	0.25	1.9 %

Total shareholders' equity (without minority interests) amounted to SAR 56.19 million at the end of 2021, compared to SAR 56.28 million in 2020.

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