Al-Omran net profit drops 42% to SAR 5.8 mln in 2022; Q4 loss at SAR 560,000

30/03/2023 Argaam Exclusive

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Al-Omran Industrial Trading Co.’s net profit dropped to SAR 5.8 million by the end of 2022, compared to SAR 9.9 million in the year-ago period

Financials (M)

Item	2021	2022	Change‬
Revenues	135.24	126.93	(6.1 %)
Gross Income	36.85	34.69	(5.9 %)
Operating Income	14.62	11.91	(18.5 %)
Net Income	9.94	5.79	(41.7 %)
Average Shares	10.21	10.21	0.0 %
EPS (Riyals)	0.97	0.57	(41.7 %)

The year-on-year (YoY) decline is attributed to 6% lower sales, 21% higher general and administrative expenses, 6% decrease in sales costs, in addition to SAR 917,000 provisions.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2021	Q4 2022	Change‬
Revenues	20.79	21.43	3.1 %
Gross Income	10.40	8.13	(21.9 %)
Operating Income	3.02	1.41	(53.2 %)
Net Income	1.06	(0.56)	(153.0 %)
Average Shares	10.21	10.21	0.0 %
EPS (Riyals)	0.10	(0.05)	(153.0 %)

Item	Q3 2022	Q4 2022	Change‬
Revenues	29.56	21.43	(27.5 %)
Gross Income	7.91	8.13	2.7 %
Operating Income	1.96	1.41	(27.9 %)
Net Income	0.47	(0.56)	(218.2 %)
Average Shares	10.21	10.21	-
EPS (Riyals)	0.05	(0.05)	(218.2 %)

Total shareholders' equity, excluding minority rights, amounted to SAR 115.46 million as of Dec. 31, 2022, compared to SAR 115.46 million a year earlier.

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