Alujain 2022 net profit tumbles 93% to SAR 119.3 mln; Q4 loss at SAR 18.2 mln

30/03/2023 Argaam Exclusive

View other reports

Alujain Corp. reported a net profit of SAR 119.3 million in 2022, a 93% slump compared to SAR 1.62 billion a year earlier.

Financials (M)

Item	2021	2022	Change‬
Revenues	519.30	1,911.18	268.0 %
Gross Income	119.09	403.69	239.0 %
Operating Income	57.64	158.38	174.8 %
Net Income	1,622.31	64.54	(96.0 %)
Average Shares	69.20	69.20	-
EPS (Riyals)	23.44	0.93	(96.0 %)

This was driven by a drop year-on-year (YoY) in Alujain’s profit share from its subsidiary, National Petrochemical Industries Company (NATPET). The company also indicated that last year results included a profit of SAR 1.352 billion on a reevaluation of fair-value of Alujain ownership in NATPET, in accordance with the IFRS. Alujain also cited higher financial as well as depreciation costs on NATPET assets fair valuation.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2021	Q4 2022	Change‬
Revenues	502.76	453.73	(9.8 %)
Gross Income	116.24	73.62	(36.7 %)
Operating Income	72.55	4.19	(94.2 %)
Net Income	1,413.31	(72.94)	(105.2 %)
Average Shares	69.20	69.20	-
EPS (Riyals)	20.42	(1.05)	(105.2 %)

Item	Q3 2022	Q4 2022	Change‬
Revenues	373.44	453.73	21.5 %
Gross Income	25.65	73.62	187.0 %
Operating Income	0.77	4.19	446.5 %
Net Income	18.73	(72.94)	(489.3 %)
Average Shares	69.20	69.20	-
EPS (Riyals)	0.27	(1.05)	(489.3 %)

Alujain incurred a net loss of SAR 18.2 million in Q4 2022, versus a net profit of SAR 1.4 billion in the year earlier period.

On a sequential basis, Alujain turned to loss from SAR 18.7 million profit in Q3 2022.

Total shareholders’ equity, excluding minority interest, stood at SAR 2.64 billion by Dec. 31, 2022, compared to SAR 2.61 billion in a year earlier period.

View more financial results

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×