Financial Results : National Gypsum 9M 2022 profit down 77% to SAR 5.4 mln; Q3 at SAR 540,000

National Gypsum 9M 2022 profit down 77% to SAR 5.4 mln; Q3 at SAR 540,000

10/11/2022 Argaam Exclusive

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National Gypsum Co. (NGC) reported a net profit after Zakat and tax of SAR 5.4 million for the first nine months of 2022, a slump of 77%, from SAR 23.5 million in the year-earlier period, on a 35.22% decline in net sales on lower volumes.



Financials (M)

Item 9m 2021 9m 2022 Change‬
Revenues 68.97 44.68 (35.2 %)
Gross Income 32.47 13.36 (58.9 %)
Operating Income 25.36 2.14 (91.5 %)
Net Income 23.47 3.31 (85.9 %)
Average Shares 31.67 31.67 0.0 %
EPS (Riyals) 0.74 0.10 (85.9 %)

Q3 2022 net profit tumbled 91% year-on-year (YoY) to SAR 540,000, from SAR 6.02 million in the year-earlier period, on a 43.65% decline in net sales due to lower demand.



Current Quarter Comparison (M)

Compared With The
Item Q3 2021 Q3 2022 Change‬
Revenues 22.10 12.45 (43.6 %)
Gross Income 9.37 2.84 (69.7 %)
Operating Income 7.02 (1.91) (127.1 %)
Net Income 6.02 (1.57) (126.1 %)
Average Shares 31.67 31.67 0.0 %
EPS (Riyals) 0.19 (0.05) (126.1 %)

On a sequential basis, net profit dropped 67.6% from SAR 1.67 million.

 

Total shareholders’ equity (no minority interest) stood at SAR 446.73 million, compared to SAR 478.38 million in the year-earlier period. 

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