BinDawood Holding 2021 net profit slumps 46% to SAR 240.6 mln, Q4 drops 77% to SAR 13.2 mln

30/03/2022 Argaam Exclusive

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BinDawood Holding Co. reported a net profit after Zakat and tax of SAR 240.6 million for 2021, a 46% slump from SAR 447.7 million in the previous year, due to a decline in sales and lower gross profit.

Financials (M)

Item	2020	2021	Change‬
Revenues	5,156.47	4,382.17	(15.0 %)
Gross Income	1,671.89	1,438.92	(13.9 %)
Operating Income	505.34	264.96	(47.6 %)
Net Income	447.72	240.56	(46.3 %)
Average Shares	1,143.00	1,143.00	-
EPS (Riyals)	0.39	0.21	(46.3 %)

The fourth-quarter net profit after Zakat and tax plunged 77% year-on-year to SAR 13.2 million.

Compared to Q3 2021, the Q4 profit was 81.2% lower from SAR 70.24 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	1,113.19	1,057.12	(5.0 %)
Gross Income	359.05	268.86	(25.1 %)
Operating Income	62.29	(28.00)	(145.0 %)
Net Income	57.39	13.22	(77.0 %)
Average Shares	1,143.00	1,143.00	-
EPS (Riyals)	0.05	0.01	(77.0 %)

Item	Q3 2021	Q4 2021	Change‬
Revenues	1,077.81	1,057.12	(1.9 %)
Gross Income	397.30	268.86	(32.3 %)
Operating Income	93.25	(28.00)	(130.0 %)
Net Income	70.24	13.22	(81.2 %)
Average Shares	1,143.00	1,143.00	-
EPS (Riyals)	0.06	0.01	(81.2 %)

Shareholders’ equity, after minority interest, rose 7.5% to SAR 1.411 billion in 2021, from SAR 1.312 billion a year earlier.

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