Nama Chemicals reports 97% profit decline for FY2019

25/03/2020 Argaam Exclusive

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Nama Chemicals Co. reported a net profit after Zakat and tax of SAR 1.1 million for the fiscal year 2019, a 96.67% decline year-on-year (YoY), compared to SAR 35.2 million a year earlier.

The decline is mainly attributed to lower average selling prices of the company’s final products, lower sales quantities despite decrease in cost of raw materials, and higher selling and marketing expenses.

Financials (M)

Item	2018	2019	Change‬
Revenues	624.34	525.94	(15.8 %)
Gross Income	127.57	73.94	(42.0 %)
Operating Income	58.80	22.22	(62.2 %)
Net Income	35.28	10.09	(71.4 %)
Average Shares	23.52	23.52	-
EPS (Riyals)	1.50	0.43	(71.4 %)

The company reported a net profit after Zakat of SAR 10.8 million for Q4 2019 from a net loss of SAR 17.08 million a year earlier.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	142.67	124.00	(13.1 %)
Gross Income	8.25	16.21	96.4 %
Operating Income	(11.02)	16.21	247.2 %
Net Income	(17.08)	19.73	215.5 %
Average Shares	23.52	23.52	-
EPS (Riyals)	(0.73)	0.84	215.5 %

Item	Q3 2019	Q4 2019	Change‬
Revenues	119.48	124.00	3.8 %
Gross Income	12.49	16.21	29.8 %
Operating Income	(2.84)	16.21	671.0 %
Net Income	(6.39)	19.73	408.6 %
Average Shares	23.52	23.52	-
EPS (Riyals)	(0.27)	0.84	408.6 %

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