Al Yamamah Steel net profit surges to SAR 167.7 mln in 9M 2020/21

12/08/2021 Argaam Exclusive

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Al Yamamah Steel Industries Co. posted a net profit after Zakat and tax of SAR 167.7 million for the nine-month period ended June 30, 2021, compared to a net profit of SAR 25.4 million a year earlier.

The profit rise was attributed to 26.61% year-on-year (YoY) increase in selling prices of the products in the construction sector, along with a decline in selling and marketing expenses.

The profit increase was offset by 33% YoY decline in sales volume.

Financials (M)

Item	9m 2020	9m 2021	Change‬
Revenues	1,393.71	1,293.39	(7.2 %)
Gross Income	127.83	284.03	122.2 %
Operating Income	65.60	223.11	240.1 %
Net Income	25.41	167.75	560.2 %
Average Shares	50.80	50.80	-
EPS (Riyals)	0.50	3.30	560.2 %

Q3 2020/21 net profit after Zakat and tax soared to SAR 65.1 million, from SAR 932,000 in the same period the previous year.

On a quarterly basis, Q3 2020/21 net profit rose 8.4% from SAR 60 million.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2020	Q3 2021	Change‬
Revenues	394.99	405.50	2.7 %
Gross Income	32.45	103.81	219.9 %
Operating Income	12.68	82.98	554.5 %
Net Income	0.93	65.06	6880.6 %
Average Shares	50.80	50.80	-
EPS (Riyals)	0.02	1.28	6880.6 %

Item	Q2 2021	Q3 2021	Change‬
Revenues	453.02	405.50	(10.5 %)
Gross Income	100.98	103.81	2.8 %
Operating Income	79.47	82.98	4.4 %
Net Income	60.02	65.06	8.4 %
Average Shares	50.80	50.80	-
EPS (Riyals)	1.18	1.28	8.4 %

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