Zoujaj 9M 2024 profit rises to SAR 74.8M; Q3 at SAR 25.1M

28/10/2024 Argaam Exclusive

View other reports

The National Company for Glass Industries (Zoujaj) reported a net profit surge to SAR 74.8 million for the first nine months of 2024, from SAR 21.7 million a year earlier.

Financials (M)

Item	9m 2023	9m 2024	Change‬
Revenues	114.48	102.00	(10.9 %)
Gross Income	26.11	23.80	(8.8 %)
Operating Income	18.20	11.20	(38.5 %)
Net Income	21.69	74.80	244.8 %
Average Shares	32.90	32.90	-
EPS (Riyals)	0.66	2.27	244.8 %

The profit growth was attributed to a higher profit share from associates producing float glass due to the full operation of the Saudi Guardian International Float Glass Co.’s plant.

However, this was offset by a fall in sales due to lower production quantities amid production line maintenance activities and the installation of new machinery for improving production quality.

The third-quarter net earnings also surged to SAR 25.10 million from SAR 12.70 million in Q3 2023, driven by a higher profit share from associates producing float glass as Saudi Guardian International Float Glass resumed full operations.

The glass manufacturer’s net profit declined 6.1% quarter-on-quarter (QoQ) from SAR 26.73 million in Q2 2024.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2023	Q3 2024	Change‬
Revenues	37.99	36.10	(5.0 %)
Gross Income	8.60	9.30	8.1 %
Operating Income	6.10	4.50	(26.2 %)
Net Income	12.70	25.10	97.6 %
Average Shares	32.90	32.90	-
EPS (Riyals)	0.39	0.76	97.6 %

Item	Q2 2024	Q3 2024	Change‬
Revenues	34.25	36.10	5.4 %
Gross Income	7.10	9.30	31.1 %
Operating Income	3.00	4.50	50.0 %
Net Income	26.73	25.10	(6.1 %)
Average Shares	32.90	32.90	-
EPS (Riyals)	0.81	0.76	(6.1 %)

Total shareholders' equity, with no minority interest, reached SAR 760.2 million as of Sept. 30, 2024, from SAR 696.9 million 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.

×