Al Yamamah Steel net profit surges to SAR 207.8 mln in FY 2020/21

13/12/2021 Argaam Exclusive

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Al Yamamah Steel Industries Co. posted a net profit after Zakat and tax of SAR 209.8 million for the fiscal year ended Sept. 30, 2021, compared to SAR 50.7 million in the year-earlier period.

Financials (M)

Item	2020	2021	Change‬
Revenues	1,867.42	1,619.03	(13.3 %)
Gross Income	201.67	364.17	80.6 %
Operating Income	113.69	280.30	146.5 %
Net Income	50.66	207.83	310.3 %
Average Shares	50.80	50.80	-
EPS (Riyals)	1.00	4.09	310.3 %

The higher profit was driven by an increase in product selling prices in the construction and electricity sectors. In addition, lower sales volumes in the construction sector helped reduce selling and distribution expenses and shipping charges. Financial charges also fell by 38.89%.

The company’s net profit after Zakat and tax rose to SAR 40 million in Q4 2020/21, an increase of 59%, compared to SAR 25.3 million in the same period last year.

On a sequential basis, Q4 2020/21 net profit declined 38.4% from SAR 65.1 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	473.71	325.63	(31.3 %)
Gross Income	73.84	80.15	8.5 %
Operating Income	48.09	57.19	18.9 %
Net Income	25.25	40.08	58.8 %
Average Shares	50.80	50.80	-
EPS (Riyals)	0.50	0.79	58.8 %

Item	Q3 2021	Q4 2021	Change‬
Revenues	405.50	325.63	(19.7 %)
Gross Income	103.81	80.15	(22.8 %)
Operating Income	82.98	57.19	(31.1 %)
Net Income	65.06	40.08	(38.4 %)
Average Shares	50.80	50.80	-
EPS (Riyals)	1.28	0.79	(38.4 %)

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