Amwaj International 9M 2021 net profit drops 33% to SAR 29 mln; Q3 at SAR 7.9 mln

20/04/2022 Argaam Exclusive

Amwaj International Co., which will be listed on Nomu-Parallel Market, posted a 33% drop in net profit for the first nine months of 2021, from SAR 43 million in the year-ago period.



Financials (M)

Item 9m 2020 9m 2021 Change‬
Revenues 322.40 243.75 (24.4 %)
Gross Income 63.10 51.89 (17.8 %)
Operating Income 47.10 36.35 (22.8 %)
Net Income 42.96 28.97 (32.6 %)
Average Shares 6.00 6.00 -
EPS (Riyals) 7.16 4.83 (32.6 %)

The lower profit was attributed to a 25% decline year-on-year (YoY) in sales of air conditioners, as well as refrigerators and freezers to SAR 199.9 million and SAR 22.8 million, respectively from SAR 245.9 million and SAR 54.7 million a year earlier.

 

The nine-month period of 2021 implied losses from the sale of assets and properties of Amwaj Middle East Co. for a total value of SAR 2.9 million.

 

In Q3 2021, net profit jumped 25% YoY to SAR 7.9 million, thanks to a 31% YoY rise in revenue. 



Current Quarter Comparison (M)

Compared With The
Item Q3 2020 Q3 2021 Change‬
Revenues 59.98 78.32 30.6 %
Gross Income 11.27 15.71 39.4 %
Operating Income 7.65 10.11 32.2 %
Net Income 6.32 7.89 24.8 %
Average Shares 6.00 6.00 -
EPS (Riyals) 1.05 1.31 24.8 %

Shareholders equity, after minority interest, stood at SAR 93.97 million as of Sept. 30, 2021.

 

The sales of air conditioners accounted for 82% of total sales. Refrigeration’s and freezers followed with 9.4%, while washing machines and dryers (4.7%).

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Share Price

Amwaj International Co.
66.00
0.00 0.00 %

Amwaj International Co. (AMWAJ INTERNATIONAL)

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Financial Ratios
Current
Market Cap (M Riyal) 396.00
Enterprise Value (EV) (M) 583.51
Shares Outstanding ((M)) 6.00
Book Value (BV) ( Riyal) 20.42
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 13.64
Price/book 3.23
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