Thob Al Aseel Co. posted a net profit after Zakat and tax of SAR 59.7 million in 2021, down 28%, from SAR 82.4 million a year earlier.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 527.34 | 481.90 | (8.6 %) |
| Gross Income | 188.49 | 174.51 | (7.4 %) |
| Operating Income | 97.93 | 77.79 | (20.6 %) |
| Net Income | 82.39 | 59.73 | (27.5 %) |
| Average Shares | 400.00 | 400.00 | - |
| EPS (Riyals) | 0.21 | 0.15 | (27.5 %) |
The company attributed the profit decrease to lower sales due to signing a contract to supply medical supplies in 2020. It contributed SAR 133 million to the sales of the previous year. Excluding sales of medical supplies, the company achieved a sales growth rate of 12.2% in 2021.
Selling and marketing expenses increased in 2021 due to higher spending on promotional activities.
Government initiatives that mitigated the effects of COVID-19 were reflected positively on net profit during the previous year.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 105.96 | 91.68 | (13.5 %) |
| Gross Income | 39.08 | 35.29 | (9.7 %) |
| Operating Income | 9.61 | 10.01 | 4.1 % |
| Net Income | 6.63 | 7.69 | 16.0 % |
| Average Shares | 400.00 | 400.00 | - |
| EPS (Riyals) | 0.02 | 0.02 | 16.0 % |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 83.33 | 91.68 | 10.0 % |
| Gross Income | 30.66 | 35.29 | 15.1 % |
| Operating Income | 8.07 | 10.01 | 24.0 % |
| Net Income | 3.58 | 7.69 | 114.8 % |
| Average Shares | 400.00 | 400.00 | - |
| EPS (Riyals) | 0.01 | 0.02 | 114.8 % |
In Q4 2021, the company reported a net profit after Zakat and tax of SAR 7.7 million, rising 16% year-on-year (YoY).
On a sequential basis, Q4 2021 net profit more than doubled from SAR 3.6 million.
Total shareholders’ equity, excluding minority interest, increased to SAR 579.2 million in 2021 from SAR 542.8 million a year ago.
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