Astra Industrial Group reported a net profit after Zakat and tax of SAR 105.2 million in the first half of 2021, an 80% increase, compared to SAR 58.3 million in the same period last year.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 951.02 | 1,127.63 | 18.6 % |
| Gross Income | 372.93 | 463.38 | 24.3 % |
| Operating Income | 106.32 | 188.23 | 77.0 % |
| Net Income | 58.32 | 105.21 | 80.4 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.73 | 1.32 | 80.4 % |
The earnings increase was driven by higher sales in all segments, along with lower selling and distribution expenses in the pharmaceuticals, and power and steel segments.
Additionally, other expenses increased in the pharmaceuticals business and provision for impairment of financial assets expenses for specialty chemicals segment.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 441.51 | 533.09 | 20.7 % |
| Gross Income | 165.76 | 205.37 | 23.9 % |
| Operating Income | 43.27 | 71.02 | 64.1 % |
| Net Income | 24.22 | 54.60 | 125.4 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.30 | 0.68 | 125.4 % |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 594.55 | 533.09 | (10.3 %) |
| Gross Income | 258.01 | 205.37 | (20.4 %) |
| Operating Income | 117.21 | 71.02 | (39.4 %) |
| Net Income | 50.61 | 54.60 | 7.9 % |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.63 | 0.68 | 7.9 % |
The company reported a net profit after Zakat and tax of SAR 54.6 million in Q2 2021, rising more than twofold year-on-year (YoY). This was backed by higher sales in all segments and rise in other income from pharmaceuticals, power and steel, and specialty chemicals segments.
On a quarterly basis, Q2 earnings rose 7.8% on a decline in other expenses in pharmaceuticals, power and steel, and specialty chemicals segments.
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