The National Company for Glass Industries (Zoujaj) reported a net profit of SAR 104.3 million in 2022, compared to SAR 51.1 million in 2021.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 86.93 | 112.32 | 29.2 % |
| Gross Income | 2.79 | 3.43 | 23.0 % |
| Operating Income | (14.27) | (11.30) | 20.8 % |
| Net Income | 51.12 | 104.33 | 104.1 % |
| Average Shares | 32.90 | 32.90 | - |
| EPS (Riyals) | 1.55 | 3.17 | 104.1 % |
The profit growth was spurred by an increase in the company’s profit share from the joint ventures operating in the float glass sector, backed by their better financial performance.
Zoujaj also reported higher sales revenue and lower losses from glass container operations, due to better financial performance.
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 28.62 | 30.89 | 7.9 % |
| Gross Income | 0.09 | (2.86) | (3204.3 %) |
| Operating Income | (5.96) | (7.28) | (22.0 %) |
| Net Income | 12.22 | 11.67 | (4.5 %) |
| Average Shares | 32.90 | 32.90 | - |
| EPS (Riyals) | 0.37 | 0.35 | (4.5 %) |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 30.46 | 30.89 | 1.4 % |
| Gross Income | (0.87) | (2.86) | (227.9 %) |
| Operating Income | (4.70) | (7.28) | (54.7 %) |
| Net Income | 20.29 | 11.67 | (42.5 %) |
| Average Shares | 32.90 | 32.90 | - |
| EPS (Riyals) | 0.62 | 0.35 | (42.5 %) |
The fourth-quarter 2022 net profit fell 5% to SAR 11.64 million from SAR 12.22 million in Q4 2021.
Zoujaj’s Q4 2022 net profit declined 42.6% from SAR 20.29 million in Q3 2022.
Total shareholders’ equity, no minority interest, increased to SAR 691.7 million as of Dec. 31, 2022, from SAR 640.2 million a year earlier.
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