Financial Results : Zoujaj swings to profit of SAR 51.1 mln in 2021; Q4 at SAR 11.7 mln

Zoujaj swings to profit of SAR 51.1 mln in 2021; Q4 at SAR 11.7 mln

30/03/2022 Argaam Exclusive

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The National Company for Glass Industries (Zoujaj) turned to a net profit after Zakat and tax of SAR 51.1 million in 2021, compared to a net loss after Zakat and tax of SAR 11 million in 202.



Financials (M)

Item 2020 2021 Change‬
Revenues 73.31 86.93 18.6 %
Gross Income (2.26) 2.79 223.8 %
Operating Income (14.87) (14.27) 4.1 %
Net Income (11.04) 51.12 563.2 %
Average Shares 32.90 32.90 -
EPS (Riyals) (0.34) 1.55 563.2 %

The earnings were driven by an increase in profit share from joint ventures operating in the float glass segment, on better financial performance.

 

The company swung to a net profit after Zakat and tax of SAR 11.7 million in Q4 2021, compared to a net loss after Zakat and tax of SAR 5.85 million in the year-earlier period.

 

Sequentially, net profit fell 41.7% from SAR 20.13 million in Q3 2021.



Current Quarter Comparison (M)

Compared With The
Item Q4 2020 Q4 2021 Change‬
Revenues 15.96 28.62 79.4 %
Gross Income (5.74) 0.09 101.6 %
Operating Income (10.56) (5.96) 43.5 %
Net Income (5.89) 12.22 307.5 %
Average Shares 32.90 32.90 -
EPS (Riyals) (0.18) 0.37 307.5 %

Total shareholders’ equity, excluding minority rights, amounted to SAR 640.2 million in 2021, compared to SAR 590.3 million in 2020.

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