SABIC Agri-Nutrients’ net profit surges to SAR 5.228 bln for 2021

27/01/2022 Argaam Exclusive

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SABIC Agri-Nutrients Co. reported net profit after Zakat and tax of SAR 5.228 billion for 2021, nearly a four-fold jump, from SAR 1.294 billion in a year-earlier period, driven by an increase in average selling prices, despite higher inventory provisions.

Financials (M)

Item	2020	2021	Change‬
Revenues	3,327.54	9,591.98	188.3 %
Gross Income	1,665.19	6,768.50	306.5 %
Operating Income	1,307.97	6,074.74	364.4 %
Net Income	1,294.40	5,228.02	303.9 %
Average Shares	416.67	476.04	14.2 %
EPS (Riyals)	3.11	10.98	253.5 %

Q4 2021 net profit after Zakat and tax reached SAR 2.763 billion, compared to SAR 233.56 million in the year-earlier period, due to higher average selling prices.

On a sequential basis, net profit more than doubled.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	768.33	4,039.84	425.8 %
Gross Income	357.83	3,282.79	817.4 %
Operating Income	281.73	3,082.55	994.1 %
Net Income	233.57	2,762.84	1082.9 %
Average Shares	416.67	476.04	14.2 %
EPS (Riyals)	0.56	5.80	935.4 %

Item	Q3 2021	Q4 2021	Change‬
Revenues	2,206.81	4,039.84	83.1 %
Gross Income	1,547.91	3,282.79	112.1 %
Operating Income	1,369.17	3,082.55	125.1 %
Net Income	1,206.47	2,762.84	129.0 %
Average Shares	476.04	476.04	-
EPS (Riyals)	2.53	5.80	129.0 %

Total shareholders’ equity, excluding minority shares, surged 90.5% year-on-year (YoY) to SAR 15.554 billion for 2021.

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