National Gypsum 2021 profit declines 35% to SAR 20.8 mln; Q4 loss at SAR 5.1 mln

31/03/2022 Argaam Exclusive

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National Gypsum Co. reported a net profit after Zakat and tax of SAR 20.8 million for 2021, a decline of 35%, compared with SAR 31.8 million a year earlier.

Financials (M)

Item	2020	2021	Change‬
Revenues	103.76	85.56	(17.5 %)
Gross Income	48.67	34.24	(29.7 %)
Operating Income	35.71	22.12	(38.1 %)
Net Income	31.77	20.76	(34.7 %)
Average Shares	31.67	31.67	-
EPS (Riyals)	1.00	0.66	(34.7 %)

The profit decline was attributed to a fall in net sales by 17.54% due to turbulent changes in the market.

The company's net loss widened to SAR 5.10 million in Q4 2021, compared with SAR 440,000 a year earlier.

On a sequential basis, the firm turned to a loss in the fourth quarter, against a profit of SAR 6.03 million in Q3 2021.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	21.37	16.59	(22.4 %)
Gross Income	6.92	1.78	(74.3 %)
Operating Income	1.17	(3.24)	(377.7 %)
Net Income	(0.47)	(2.71)	(474.6 %)
Average Shares	31.67	31.67	-
EPS (Riyals)	(0.01)	(0.09)	(474.6 %)

Item	Q3 2021	Q4 2021	Change‬
Revenues	22.10	16.59	(24.9 %)
Gross Income	9.37	1.78	(81.1 %)
Operating Income	7.02	(3.24)	(146.2 %)
Net Income	6.02	(2.71)	(145.0 %)
Average Shares	31.67	31.67	-
EPS (Riyals)	0.19	(0.09)	(145.0 %)

Total shareholders’ equity, after minority interest, reached SAR 474.3 million at the end of 2021, up 2.9% from SAR 460.6 million a year earlier.

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