Alujain logs SAR 1.6 bln in net profit on reassessment of NATPET, its assets

31/03/2022 Argaam Exclusive

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Alujain Holding Corp. reported a 47% rise in net profit after Zakat and tax to SAR 1.622 billion in 2021, from SAR 207.3 million a year earlier.

Financials (M)

Item	2020	2021	Change‬
Revenues	14.38	519.30	3511.8 %
Gross Income	1.34	119.09	8793.7 %
Operating Income	(26.25)	57.64	319.6 %
Net Income	207.29	1,622.31	682.6 %
Average Shares	69.20	69.20	-
EPS (Riyals)	3.00	23.44	682.6 %

The company attributed the profit rise to its subsidiary, National Petrochemical Industrial Co. (NATPET), which posted an unaudited net profit of SAR 521 million and earnings per share of SAR 4.87. Alujain’s held a 74.98% stake in NATPET by the end of Q3 2021, up from 57.4%. Alujain’s holding also increased to 75.37% from 74.98% in the fourth quarter of 2021.

In Q4 2021, net profit after Zakat and tax surged 2,481.3% year-on-year (YoY) to SAR 1.413.31 billion.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	3.87	502.76	12887.9 %
Gross Income	0.38	116.24	30488.4 %
Operating Income	(4.08)	72.55	1877.8 %
Net Income	54.75	1,413.31	2481.2 %
Average Shares	69.20	69.20	-
EPS (Riyals)	0.79	20.42	2481.2 %

Item	Q3 2021	Q4 2021	Change‬
Revenues	6.53	502.76	7595.7 %
Gross Income	1.32	116.24	8692.4 %
Operating Income	(1.86)	72.55	4002.7 %
Net Income	56.74	1,413.31	2391.1 %
Average Shares	69.20	69.20	-
EPS (Riyals)	0.82	20.42	2391.1 %

Shareholders' equity, excluding minority rights, amounted to SAR 2.612 billion by the end of 2021, compared to SAR 1.690.77 billion a yearo ago.

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