Financial Results : SABIC Agri-Nutrients net profit surges to SAR 2.513 bln in Q1 2022

SABIC Agri-Nutrients net profit surges to SAR 2.513 bln in Q1 2022

10/05/2022 Argaam Exclusive

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SABIC Agri-Nutrients Co. reported a net profit after Zakat and tax of SAR 2.513 billion for Q1 2022, an over five-fold rise from SAR 423 million in the year-earlier period, driven by an increase in average selling prices and sales volumes, despite higher selling and distribution expenses.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 1,506.35 4,657.12 209.2 %
Gross Income 814.82 2,873.03 252.6 %
Operating Income 671.81 2,614.20 289.1 %
Net Income 422.58 2,512.84 494.6 %
Average Shares 476.04 476.04 -
EPS (Riyals) 0.89 5.28 494.6 %

Compared to Q4 2021, net profit after Zakat and tax declined 9.1% from SAR 2.764 billion, due to higher selling, distribution, general and administrative expenses.

 

Total shareholders’ equity, after minority shares, jumped 53.8% year-on-year (YoY) to SAR 18.130 billion in the three-month period.

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