Alujain Holding net profit rises 12% to SAR 152.3 mln in H1 2021

19/08/2021 Argaam Exclusive

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Alujain Holding Corp reported a net profit after Zakat and tax of SAR 152.3 million for the first half of 2021, a rise of 12% from SAR 136.6 million a year earlier.

The profit growth was fueled by an increase in Alujain’s profit share from NATPET. The profits of NATPET during H1 2020 included non-operating income of SAR 330 million, representing the remaining part of the final insurance settlement for the fire accident that occurred during the last quarter of 2018.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	7.25	10.00	38.0 %
Gross Income	0.65	1.53	134.0 %
Operating Income	(14.42)	(13.05)	9.5 %
Net Income	136.62	152.26	11.5 %
Average Shares	69.20	69.20	-
EPS (Riyals)	1.97	2.20	11.5 %

In Q2 2021, net profit after Zakat and tax halved to SAR 92 million from SAR 182.9 million in the year-ago period, as Alujain’s profit share from NATPET during Q2 2020 included non-operating and non-recurring income of SAR 330 million, representing the remaining part of the final settlement of insurance for the fire accident which occurred during the last quarter of 2018. Alujain’s share in this non-operating income stood at SAR 189 million.

Sequentially, Alujain’s net profit after Zakat and tax jumped 52.5% from SAR 60.30 million.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2020	Q2 2021	Change‬
Revenues	2.61	5.25	100.7 %
Gross Income	0.04	0.79	1968.4 %
Operating Income	(4.01)	(8.90)	(122.1 %)
Net Income	182.98	91.96	(49.7 %)
Average Shares	69.20	69.20	-
EPS (Riyals)	2.64	1.33	(49.7 %)

Item	Q1 2021	Q2 2021	Change‬
Revenues	4.76	5.25	10.3 %
Gross Income	0.74	0.79	5.9 %
Operating Income	(4.15)	(8.90)	(114.3 %)
Net Income	60.30	91.96	52.5 %
Average Shares	69.20	69.20	-
EPS (Riyals)	0.87	1.33	52.5 %

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