National Industrialization Co. (Tasnee) reported a net profit after Zakat and tax of SAR 623.2 million for the first nine months of 2022, a decline of 39%, compared with SAR 1.017 billion in the same period last year.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Revenues | 2,510.08 | 2,943.41 | 17.3 % |
| Gross Income | 655.90 | 677.40 | 3.3 % |
| Operating Income | 143.11 | 273.45 | 91.1 % |
| Net Income | 1,017.70 | 623.21 | (38.8 %) |
| Average Shares | 668.91 | 668.91 | - |
| EPS (Riyals) | 1.52 | 0.93 | (38.8 %) |
The profit decline was primarily attributed to a decrease in share of profit from investments in joint ventures, mainly resulting from lower average selling prices and sales volumes for certain petrochemical products. The company also cited higher feedstock and logistics costs and lower other income, despite an increase in revenue from certain products driven by improved average selling prices and sales volumes, as well as lower general and administrative expenses.
Tasnee reported a net profit after Zakat and tax of SAR 17.1 million for Q3 2022, down 95% from SAR 333.4 million a year earlier.
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 1,004.29 | 887.11 | (11.7 %) |
| Gross Income | 249.91 | 130.11 | (47.9 %) |
| Operating Income | 99.83 | 15.38 | (84.6 %) |
| Net Income | 333.45 | 17.13 | (94.9 %) |
| Average Shares | 668.91 | 668.91 | - |
| EPS (Riyals) | 0.50 | 0.03 | (94.9 %) |
| Item | Q2 2022 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 1,077.12 | 887.11 | (17.6 %) |
| Gross Income | 259.14 | 130.11 | (49.8 %) |
| Operating Income | 114.78 | 15.38 | (86.6 %) |
| Net Income | 297.12 | 17.13 | (94.2 %) |
| Average Shares | 668.91 | 668.91 | - |
| EPS (Riyals) | 0.44 | 0.03 | (94.2 %) |
Compared with the previous quarter, Q3 2022 net profit dropped 94% from SAR 297.1 million.
Total shareholders’ equity, excluding minority interests, stood at SAR 9.526 billion as of Sept. 30, 2022, growing by 9.5% from SAR 8.329 billion a year earlier.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}