Saudi Ceramics net profit down 26% to SAR 173.9 mln in 2022; Q4 at SAR 41.9 mln

26/02/2023 Argaam Exclusive

View other reports

Saudi Ceramic Co. (Saudi Ceramics) reported a decline of 26% in net profit of 2022 to SAR 173.9 million, from SAR 233.8 billion a year earlier.

Financials (M)

Item	2021	2022	Change‬
Revenues	1,534.77	1,484.96	(3.2 %)
Gross Income	528.26	452.34	(14.4 %)
Operating Income	254.28	184.75	(27.3 %)
Net Income	233.79	173.92	(25.6 %)
Average Shares	100.00	100.00	-
EPS (Riyals)	2.34	1.74	(25.6 %)

The profit decline is attributed to a slight decrease in sales in addition to an increase in the cost of production inputs, which affected the profit margins. The current year also witnessed an increase in selling and marketing expenses.

Meanwhile, there was a decrease in general and administrative expenses and an increase in other income.

The company reported an 11% decline in net profit to SAR 41.9 million in Q4 2022 from SAR 47.1 million in the year-ago period.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2021	Q4 2022	Change‬
Revenues	378.23	383.42	1.4 %
Gross Income	126.06	108.37	(14.0 %)
Operating Income	51.83	47.37	(8.6 %)
Net Income	47.11	41.88	(11.1 %)
Average Shares	100.00	100.00	-
EPS (Riyals)	0.47	0.42	(11.1 %)

Item	Q3 2022	Q4 2022	Change‬
Revenues	366.56	383.42	4.6 %
Gross Income	116.44	108.37	(6.9 %)
Operating Income	48.32	47.37	(2.0 %)
Net Income	42.78	41.88	(2.1 %)
Average Shares	100.00	100.00	-
EPS (Riyals)	0.43	0.42	(2.1 %)

When compared to the previous quarter, Q4 net profit fell 2.1% from SAR 42.78 million.

Shareholders’ equity, after minority interest, fell to SAR 1.74 billion as of Dec. 31, 2022, from SAR 1.67 billion a year earlier.

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.

×