Saudi Ceramic’s net profit surges to SAR 77.7 mln in 2020

16/02/2021 Argaam Exclusive

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Saudi Ceramic Co. reported a net profit after Zakat and tax of SAR 77.7 million in 2020, compared to a profit of SAR 7.2 million the previous year.

The improvement was attributed to higher revenue due to improved sales and profit margins as prices and quantity sold increased.

The company also noted a decline in selling and administrative expenses, along with low finance costs – due to the repayment of a large portion of loans – and interest rates.

The firm’s performance improved in 2020 despite the company making write-offs and additional provisions compared to the previous year.

Financials (M)

Item	2019	2020	Change‬
Revenues	1,235.09	1,516.06	22.7 %
Gross Income	326.57	391.93	20.0 %
Operating Income	60.39	126.64	109.7 %
Net Income	7.15	77.70	986.7 %
Average Shares	100.00	100.00	-
EPS (Riyals)	0.07	0.78	986.7 %

The company posted a net profit of SAR 28 million in Q4 2020, versus a profit of SAR 13.81 million in the same period the previous year.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	359.91	367.69	2.2 %
Gross Income	104.68	96.57	(7.7 %)
Operating Income	33.71	35.19	4.4 %
Net Income	13.81	28.04	103.0 %
Average Shares	100.00	100.00	-
EPS (Riyals)	0.14	0.28	103.0 %

Item	Q3 2020	Q4 2020	Change‬
Revenues	373.05	367.69	(1.4 %)
Gross Income	106.96	96.57	(9.7 %)
Operating Income	40.63	35.19	(13.4 %)
Net Income	32.46	28.04	(13.6 %)
Average Shares	100.00	100.00	-
EPS (Riyals)	0.32	0.28	(13.6 %)

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