Saudi Ceramic posts SAR 134 mln profit in H1 2021

Saudi Ceramic Co. reported a net profit after Zakat and tax of SAR 134 million for the first half of 2021, up from SAR 17.2 million in the same period last year.

The company attributed the profit rise to improved profit margins, which positively reflected on the growth in operating profits, in addition to lower financing costs.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	775.32	796.40	2.7 %
Gross Income	188.40	284.43	51.0 %
Operating Income	50.82	144.39	184.1 %
Net Income	17.20	134.03	679.3 %
Average Shares	100.00	100.00	-
Earnings Per Share before unusual items (Riyals)	0.17	1.34	679.3 %
EPS (Riyal)	0.17	1.34	679.3 %

In Q2 2021, the ceramic producer posted a net profit after Zakat and tax of SAR 63.3 million, rising from SAR 6.5 million in Q2 2020, thanks to improved profit margins.

When compared to the previous quarter, Q2 net profit fell by 10.4%, as it coincided with the holy month of Ramadan and Eid Al-Fitr holiday, which affected the performance of some sales channels.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2020	Q2 2021	Change‬
Revenues	382.00	356.06	(6.8 %)
Gross Income	102.50	137.05	33.7 %
Operating Income	29.99	68.52	128.5 %
Net Income	6.56	63.33	865.2 %
Average Shares	100.00	100.00	-
Earnings Per Share before unusual items (Riyal)	0.07	0.63	865.2 %
EPS (Riyal)	0.07	0.63	865.2 %

Item	Q1 2021	Q2 2021	Change‬
Revenues	440.34	356.06	(19.1 %)
Gross Income	147.38	137.05	(7.0 %)
Operating Income	75.86	68.52	(9.7 %)
Net Income	70.73	63.33	(10.5 %)
Average Shares	100.00	100.00	-
Earnings Per Share before unusual items (Riyal)	0.71	0.63	(10.5 %)
EPS (Riyal)	0.71	0.63	(10.5 %)

Saudi Ceramic posts SAR 134 mln profit in H1 2021

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Financials (M)

Current Quarter Comparison (M)

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