National Building 2021 profit jumps to SAR 80.7mln; Q4 at SAR 27.5 mln

27/03/2022 Argaam Exclusive

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National Building and Marketing Co. (NBM) reported a net profit after Zakat and tax of SAR 80.7 million in 2021, a 165% year-over-year (YoY) increase from SAR 30.2 million a year earlier.

The increase was driven by higher sales in the industrial and building materials segments, including construction and trading.

Lower financing costs and higher gross profit margin were also cited as reasons for stronger profits.

Financials (M)

Item	2020	2021	Change‬
Revenues	286.73	678.42	136.6 %
Gross Income	38.41	95.95	149.8 %
Operating Income	29.83	80.00	168.2 %
Net Income	30.45	73.40	141.1 %
Average Shares	12.00	12.00	-
EPS (Riyals)	2.54	6.12	141.1 %

The company reported a net profit of SAR 27.5 million for Q4 2021, a 55.7% YoY increase, from SAR 17.6 million in the same period a year earlier.

On a sequential basis, net profit fell 2.4% from SAR 28.1 million in Q3 2021.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2020	H2 2021	Change‬
Revenues	133.04	380.39	185.9 %
Gross Income	23.63	60.19	154.7 %
Operating Income	18.71	51.28	174.1 %
Net Income	22.69	48.31	112.9 %
Average Shares	12.00	12.00	-
EPS (Riyals)	1.89	4.03	112.9 %

Item	H1 2021	H2 2021	Change‬
Revenues	298.03	380.39	27.6 %
Gross Income	35.76	60.19	68.3 %
Operating Income	28.72	51.28	78.6 %
Net Income	25.09	48.31	92.5 %
Average Shares	12.00	12.00	-
EPS (Riyals)	2.09	4.03	92.5 %

Total shareholders’ equity, excluding minority interest, rose 51.8% YoY to SAR 241.411 million in 2021 from SAR 159.006 million a year earlier.

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