Alujain turns to SAR 152.5 mln profit in 9M 2020

28/10/2020 Argaam Exclusive

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Alujain Holding Corp. reported net profit after Zakat and tax of SAR 152.5 million for the first nine months of 2020, versus net loss of SAR 258.2 million in prior-year period, driven by profit share from associate company, NATPET.

Financials (M)

Item	9m 2019	9m 2020	Change‬
Revenues	18.00	10.51	(41.6 %)
Gross Income	4.17	0.96	(77.0 %)
Operating Income	(4.99)	(22.17)	(344.2 %)
Net Income	(258.18)	152.53	159.1 %
Average Shares	69.20	69.20	-
EPS (Riyals)	(3.73)	2.20	159.1 %

Current Quarter Comparison (M)

Compared With The

Item	Q3 2019	Q3 2020	Change‬
Revenues	6.69	3.26	(51.2 %)
Gross Income	1.61	0.31	(80.9 %)
Operating Income	(1.57)	(7.75)	(392.9 %)
Net Income	(108.46)	15.92	114.7 %
Average Shares	69.20	69.20	-
EPS (Riyals)	(1.57)	0.23	114.7 %

Item	Q2 2020	Q3 2020	Change‬
Revenues	2.61	3.26	24.7 %
Gross Income	0.04	0.31	705.3 %
Operating Income	(4.01)	(7.75)	(93.5 %)
Net Income	182.98	15.92	(91.3 %)
Average Shares	69.20	69.20	-
EPS (Riyals)	2.64	0.23	(91.3 %)

Alujain reported net profit after Zakat and tax of SAR 15.9 million in Q3 2020, versus net loss of SAR 108.46 million in year-earlier period, backed by profit share of associate company NATPET, despite higher general and administrative expenses (G&As).

On a sequential basis, Q3 2020 net profit plunged 91.3%.

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