Saudi Chemical Holding Co. reported a net profit of SAR 80 million in 2022, up 14%, compared to SAR 69.6 million a year earlier.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 3,410.98 | 3,695.87 | 8.4 % |
| Gross Income | 431.90 | 487.66 | 12.9 % |
| Operating Income | 141.60 | 177.41 | 25.3 % |
| Net Income | 69.57 | 80.22 | 15.3 % |
| Average Shares | 843.20 | 843.20 | - |
| EPS (Riyals) | 0.08 | 0.10 | 15.3 % |
The profit increase was driven by higher sales of pharmaceutical and explosive segments. In addition, the company reported an improvement in gross profit and revaluation gains on derivative financial instruments related to interest rate exposure.
The company swung to a net profit of SAR 23.2 million in Q4 2022 against a net loss of SAR 5.8 million in Q4 2021.
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 756.36 | 1,074.69 | 42.1 % |
| Gross Income | 83.27 | 152.98 | 83.7 % |
| Operating Income | 1.99 | 57.35 | 2777.4 % |
| Net Income | (6.28) | 23.40 | 472.7 % |
| Average Shares | 843.20 | 843.20 | - |
| EPS (Riyals) | (0.01) | 0.03 | 472.7 % |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 760.51 | 1,074.69 | 41.3 % |
| Gross Income | 93.49 | 152.98 | 63.6 % |
| Operating Income | 22.83 | 57.35 | 151.1 % |
| Net Income | 10.33 | 23.40 | 126.6 % |
| Average Shares | 843.20 | 843.20 | - |
| EPS (Riyals) | 0.01 | 0.03 | 126.6 % |
Saudi Chemical’s Q4 2022 profit jumped over 124% from SAR 10.3 million in Q3 2022.
Total shareholders’ equity (after deducting minority equity) stood at SAR 1.66 billion as of Dec. 31, 2022, compared to SAR 1.61 billion a year earlier.
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