Saudi Chemical Co. reported a net profit after Zakat and tax of SAR 70 million in 2021, a 5% dip from SAR 74 million in the previous year.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 3,306.16 | 3,410.98 | 3.2 % |
| Gross Income | 436.41 | 431.90 | (1.0 %) |
| Operating Income | 149.63 | 141.60 | (5.4 %) |
| Net Income | 74.03 | 69.57 | (6.0 %) |
| Average Shares | 843.20 | 843.20 | - |
| EPS (Riyals) | 0.09 | 0.08 | (6.0 %) |
The decline was driven by higher cost of revenue and credit loss provisions, despite a decrease in general and administrative expenses and higher other income.
The company narrowed its net loss after Zakat and tax to SAR 5.85 million in Q4 2021, from a loss of SAR 22.96 million in Q4 2020.
On a sequential basis, Saudi Chemical swung to a net loss in Q4 from a profit of SAR 7.75 million.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 836.51 | 756.36 | (9.6 %) |
| Gross Income | 73.80 | 83.27 | 12.8 % |
| Operating Income | (1.40) | 1.99 | 242.2 % |
| Net Income | (22.96) | (6.28) | 72.7 % |
| Average Shares | 843.20 | 843.20 | - |
| EPS (Riyals) | (0.03) | (0.01) | 72.7 % |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 785.26 | 756.36 | (3.7 %) |
| Gross Income | 92.03 | 83.27 | (9.5 %) |
| Operating Income | 31.64 | 1.99 | (93.7 %) |
| Net Income | 7.75 | (6.28) | (181.0 %) |
| Average Shares | 843.20 | 843.20 | - |
| EPS (Riyals) | 0.01 | (0.01) | (181.0 %) |
Total shareholders’ equity (after deducting minority equity) was SAR 1.618 billion in 2021, versus SAR 1.630 billion in 2020.
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