Nama Chemicals turns to net profit of SAR 24.4 mln in 9M 2021

31/10/2021 Argaam Exclusive

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Nama Chemicals Co. swung to a net profit after Zakat and tax of SAR 24.4 million for the first nine months of 2021, versus a net loss of SAR 20.6 million in the year-earlier period, driven by higher average selling prices, increased sales volumes, and lower cost of finance.

Financials (M)

Item	9m 2020	9m 2021	Change‬
Revenues	324.52	420.46	29.6 %
Gross Income	24.12	86.58	259.0 %
Operating Income	(17.47)	27.49	257.3 %
Net Income	(20.57)	24.41	218.6 %
Average Shares	23.52	23.52	-
EPS (Riyals)	(0.87)	1.04	218.6 %

Current Quarter Comparison (M)

Compared With The

Item	Q3 2020	Q3 2021	Change‬
Revenues	99.95	134.82	34.9 %
Gross Income	3.06	23.66	673.8 %
Operating Income	(11.80)	5.17	143.9 %
Net Income	(9.91)	4.86	149.1 %
Average Shares	23.52	23.52	-
EPS (Riyals)	(0.42)	0.21	149.1 %

Item	Q2 2021	Q3 2021	Change‬
Revenues	122.83	134.82	9.8 %
Gross Income	28.91	23.66	(18.1 %)
Operating Income	9.48	5.17	(45.4 %)
Net Income	9.57	4.86	(49.2 %)
Average Shares	23.52	23.52	-
EPS (Riyals)	0.41	0.21	(49.2 %)

In Q3 2021, the company turned to a net profit after Zakat and tax of SAR 4.9 million against a net loss of SAR 9.9 million a year earlier.

When compared to the previous quarter, net earnings fell 49.2% from SAR 9.6 million.

Shareholders’ equity, after minority interest, grew by 10.8% to SAR 322.864 million as of Sept. 30, 2021, from SAR 291.443 million a year earlier.

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