Alujain 9M 2021 net profit rises 37% to SAR 209 mln

02/11/2021 Argaam Exclusive

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Alujain Holding Corp. reported a net profit after Zakat and tax of SAR 209 million for the first nine months of 2021, up 37% from SAR 152.5 million in the prior-year period.

The company attributed the profit rise to higher profit share from its subsidiary, National Petrochemical Industrial Co. (NATPET), and lower general and administrative expenses.

Financials (M)

Item	9m 2020	9m 2021	Change‬
Revenues	10.51	16.54	57.4 %
Gross Income	0.96	2.85	197.2 %
Operating Income	(22.17)	(14.91)	32.7 %
Net Income	152.53	209.00	37.0 %
Average Shares	69.20	69.20	-
EPS (Riyals)	2.20	3.02	37.0 %

Alujain reported a net profit after Zakat and tax of SAR 56.7 million in Q3 2021, a more than threefold increase year-on-year (YoY), driven by a rise in profit share from NATPET.

On a sequential basis, Q3 2021 net profit plunged 38.2% on higher finance costs.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2020	Q3 2021	Change‬
Revenues	3.26	6.53	100.4 %
Gross Income	0.31	1.32	332.0 %
Operating Income	(7.75)	(1.86)	76.0 %
Net Income	15.92	56.74	256.4 %
Average Shares	69.20	69.20	-
EPS (Riyals)	0.23	0.82	256.4 %

Item	Q2 2021	Q3 2021	Change‬
Revenues	5.25	6.53	24.6 %
Gross Income	0.79	1.32	68.2 %
Operating Income	(8.90)	(1.86)	79.1 %
Net Income	91.96	56.74	(38.3 %)
Average Shares	69.20	69.20	-
EPS (Riyals)	1.33	0.82	(38.3 %)

Total shareholders’ equity, excluding minority rights, amounted to SAR 1.900 billion in 9M 2021 compared to SAR 1.633 billion in the year-earlier period.

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