Financial Results : Saudi Chemical Q1 2022 profit drops 20% to SAR 32.7 mln

Saudi Chemical Q1 2022 profit drops 20% to SAR 32.7 mln

15/05/2022 Argaam Exclusive

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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.



Current Quarter Comparison (M)

Compared With The
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 %)

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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