Financial Results : Zoujaj turns to SAR 39.3 mln net profit in 9M 2021

Zoujaj turns to SAR 39.3 mln net profit in 9M 2021

31/10/2021 Argaam Exclusive

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The National Company for Glass Industries (Zoujaj) turned to a net profit after Zakat and tax of SAR 39.3 million in the first nine months of 2021, compared to a net loss of SAR 5.1 million in the same period last year.



Financials (M)

Item 9m 2020 9m 2021 Change‬
Revenues 57.35 58.31 1.7 %
Gross Income 3.48 2.70 (22.5 %)
Operating Income (4.32) (8.30) (92.3 %)
Net Income (5.15) 38.90 855.5 %
Average Shares 32.90 32.90 -
EPS (Riyals) (0.16) 1.18 855.5 %

The company attributed the earnings to higher profit from associates operating in the float glass sector due to better performance.



Current Quarter Comparison (M)

Compared With The
Item Q3 2020 Q3 2021 Change‬
Revenues 16.22 19.52 20.4 %
Gross Income 0.10 (0.07) (175.5 %)
Operating Income (2.81) (5.20) (85.0 %)
Net Income 2.64 19.05 622.5 %
Average Shares 32.90 32.90 -
EPS (Riyals) 0.08 0.58 622.5 %

The third-quarter net profit after Zakat and tax surged to SAR 20.1 million from SAR 2.6 million in year-earlier period, thanks to higher profit from associates in the float glass sector. 

  

When compared to previous quarter, Q3 2021 net profit jumped 95.1%. 

 

Total shareholders’ equity, excluding minority rights, amounted to SAR 633 million in the nine-month period, compared to SAR 586.4 million in the same period a year ago.

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