Financial Results : Al Yamamah Steel profit down 20% to SAR 34 mln in Q1 2021/22

Al Yamamah Steel profit down 20% to SAR 34 mln in Q1 2021/22

06/02/2022 Argaam Exclusive

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Al Yamamah Steel Industries Co. reported a net profit after Zakat and tax of SAR 34 million for the first quarter ended Dec. 31, 2021, a 20% decline, compared to SAR 42.7 million a year earlier.

 

The earnings decreased on higher raw material prices and lower sales in the construction segment.

 

The steel manufacturer’s net profit after Zakat and tax was 15.1% lower compared to the previous quarter, driven by higher raw material prices and lower selling prices of some products.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 434.87 464.24 6.8 %
Gross Income 79.24 66.20 (16.5 %)
Operating Income 60.65 45.87 (24.4 %)
Net Income 42.67 34.01 (20.3 %)
Average Shares 50.80 50.80 -
EPS (Riyals) 0.84 0.67 (20.3 %)

Total shareholders’ equity, excluding minority interests, increased nearly 9% to SAR 746.54 million as of Dec. 31, 2021, compared to SAR 685.19 million a year earlier

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