Electrical Industries Co. reported a net profit after Zakat and tax of SAR 48.9 million for 2021, an increase of 104% year-on-year (YoY), from a profit of SAR 23.9 million in the year-earlier period.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 648.69 | 770.69 | 18.8 % |
| Gross Income | 111.50 | 149.55 | 34.1 % |
| Operating Income | 44.28 | 66.83 | 50.9 % |
| Net Income | 23.92 | 48.85 | 104.2 % |
| Average Shares | 1,125.00 | 1,125.00 | - |
| EPS (Halala) | 2.13 | 4.34 | 104.2 % |
The profit increase was attributed to higher sales and the diversification in the sold products, including products with higher profitability and better gross margins.
The increase was offset by higher selling and distribution expenses, as well as general and administration costs.
In Q4 2021, the company reported a net profit after Zakat and tax of SAR 23.8 million, a 15% decline, from a profit of SAR 27.9 million a year earlier.
Sequentially, Electrical Industries’ net profit rose by 134% from SAR 10.14 million in Q3 2021.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 251.48 | 229.61 | (8.7 %) |
| Gross Income | 52.79 | 46.43 | (12.0 %) |
| Operating Income | 33.65 | 30.50 | (9.4 %) |
| Net Income | 27.88 | 23.75 | (14.8 %) |
| Average Shares | 1,125.00 | 1,125.00 | - |
| EPS (Halala) | 2.48 | 2.11 | (14.8 %) |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 207.63 | 229.61 | 10.6 % |
| Gross Income | 41.90 | 46.43 | 10.8 % |
| Operating Income | 14.42 | 30.50 | 111.5 % |
| Net Income | 10.14 | 23.75 | 134.3 % |
| Average Shares | 1,125.00 | 1,125.00 | - |
| EPS (Halala) | 0.90 | 2.11 | 134.3 % |
Total shareholders’ equity, after minority interest, grew by 3.9% to SAR 587.8 million as of Dec. 31, 2021, from SAR 565.5 million a year earlier.
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