National Gypsum turns to SAR 4.3 mln loss in 2022; Q4 at SAR 9.7 mln

30/03/2023 Argaam Exclusive

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Share Price

26.45
(0.10) (0.38 %)

National Gypsum Co. (NGC)

National Gypsum Co. (NGC) swung to a net loss of SAR 4.3 million in 2022, against a net profit of SAR 20.8 million in 2021 hurt by lower sales value and volume.



Financials (M)

Item 2021 2022 Change‬
Revenues 85.56 54.74 (36.0 %)
Gross Income 34.24 7.73 (77.4 %)
Operating Income 22.12 (7.85) (135.5 %)
Net Income 20.76 (6.44) (131.0 %)
Average Shares 31.67 31.67 0.0 %
EPS (Riyals) 0.66 (0.20) (131.0 %)

It also incurred unrealized losses from financial assets in 2022, as the local and foreign stock markets were impacted by global conditions and higher interest rates.

 

In Q4 2022, the company slid into a deeper loss of SAR 9.7 million, from SAR 2.7 million in Q4 2021. 

 

In Q3 2022, NGC posted a net profit of SAR 540,000.



Current Quarter Comparison (M)

Compared With The
Item Q4 2021 Q4 2022 Change‬
Revenues 16.59 10.05 (39.4 %)
Gross Income 1.78 (5.63) (417.2 %)
Operating Income (3.24) (9.99) (208.3 %)
Net Income (2.71) (9.75) (259.6 %)
Average Shares 31.67 31.67 0.0 %
EPS (Riyals) (0.09) (0.31) (259.6 %)

Shareholders’ equity, no minority interest, dropped to SAR 431.9 million as of Dec. 31, 2022, from SAR 474.3 million a year earlier.

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