Zamil Industrial turns to profit of SAR 12.3 mln in H1 2021

12/08/2021 Argaam Exclusive

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Zamil Industrial Investment Co. reported a net profit after Zakat and tax of SAR 12.3 million in H1 2021, from a net loss of SAR 87.1 million in the prior-year period.

The profit was attributed to higher sales, gross profit and operating margin across all segments, lower operating expenses and financial charges, decline in loss from discontinued operations and higher other income.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	1,600.08	1,796.60	12.3 %
Gross Income	198.13	270.08	36.3 %
Operating Income	(45.59)	33.50	173.5 %
Net Income	(87.13)	12.27	114.1 %
Average Shares	60.00	60.00	-
EPS (Riyals)	(1.45)	0.20	114.1 %

The company reported a net loss after Zakat and tax of SAR 7.1 million for Q2 2021, from a net loss after Zakat and tax of SAR 58.3 million in the same quarter last year.

On a sequential basis, the company’s net profit grew 36% on higher gross profit and operating margin in the steel segment and higher other income

Current Quarter Comparison (M)

Compared With The

Item	Q2 2020	Q2 2021	Change‬
Revenues	719.80	847.42	17.7 %
Gross Income	79.58	132.05	65.9 %
Operating Income	(36.46)	15.12	141.5 %
Net Income	(58.31)	7.07	112.1 %
Average Shares	60.00	60.00	-
EPS (Riyals)	(0.97)	0.12	112.1 %

Item	Q1 2021	Q2 2021	Change‬
Revenues	949.18	847.42	(10.7 %)
Gross Income	138.03	132.05	(4.3 %)
Operating Income	18.38	15.12	(17.8 %)
Net Income	5.20	7.07	35.9 %
Average Shares	60.00	60.00	-
EPS (Riyals)	0.09	0.12	35.9 %

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