Saudi Ceramic Co. (Saudi Ceramics) reported a decline of 26% in net profit of 2022 to SAR 173.9 million, from SAR 233.8 billion a year earlier.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 1,534.77 | 1,484.96 | (3.2 %) |
| Gross Income | 528.26 | 452.34 | (14.4 %) |
| Operating Income | 254.28 | 184.75 | (27.3 %) |
| Net Income | 233.79 | 173.92 | (25.6 %) |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 2.92 | 2.17 | (25.6 %) |
The profit decline is attributed to a slight decrease in sales in addition to an increase in the cost of production inputs, which affected the profit margins. The current year also witnessed an increase in selling and marketing expenses.
Meanwhile, there was a decrease in general and administrative expenses and an increase in other income.
The company reported an 11% decline in net profit to SAR 41.9 million in Q4 2022 from SAR 47.1 million in the year-ago period.
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 378.23 | 383.42 | 1.4 % |
| Gross Income | 126.06 | 108.37 | (14.0 %) |
| Operating Income | 51.83 | 47.37 | (8.6 %) |
| Net Income | 47.11 | 41.88 | (11.1 %) |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.59 | 0.52 | (11.1 %) |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 366.56 | 383.42 | 4.6 % |
| Gross Income | 116.44 | 108.37 | (6.9 %) |
| Operating Income | 48.32 | 47.37 | (2.0 %) |
| Net Income | 42.78 | 41.88 | (2.1 %) |
| Average Shares | 80.00 | 80.00 | - |
| EPS (Riyals) | 0.53 | 0.52 | (2.1 %) |
When compared to the previous quarter, Q4 net profit fell 2.1% from SAR 42.78 million.
Shareholders’ equity, after minority interest, fell to SAR 1.74 billion as of Dec. 31, 2022, from SAR 1.67 billion a year earlier.
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