Saudi Chemical Co. reported a net profit after Zakat and tax of SAR 32.7 million in Q1 2022, a 20% decline, compared to SAR 40.8 million in the year-earlier period.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 969.46 | 903.99 | (6.8 %) |
| Gross Income | 128.94 | 127.49 | (1.1 %) |
| Operating Income | 60.82 | 57.31 | (5.8 %) |
| Net Income | 40.83 | 32.71 | (19.9 %) |
| Average Shares | 843.20 | 843.20 | - |
| EPS (Riyals) | 0.05 | 0.04 | (19.9 %) |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 756.36 | 903.99 | 19.5 % |
| Gross Income | 83.27 | 127.49 | 53.1 % |
| Operating Income | 1.99 | 57.31 | 2775.6 % |
| Net Income | (6.28) | 32.71 | 621.0 % |
| Average Shares | 843.20 | 843.20 | - |
| EPS (Riyals) | (0.01) | 0.04 | 621.0 % |
The decline was due to a drop in pharmaceutical segment sales, as well as other revenues.
Sequentially, the company turned to a net profit from a net loss of SAR 6.3 million in Q4 2021.
Total shareholders’ equity, excluding minority interest, declined 1.2% to SAR 1.65 billion in Q1 2022, compared to SAR 1.67 billion in the year-ago period.
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