Nama Chemicals Co. swung to a net profit after Zakat and tax of SAR 24.4 million for the first nine months of 2021, versus a net loss of SAR 20.6 million in the year-earlier period, driven by higher average selling prices, increased sales volumes, and lower cost of finance.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 324.52 | 420.46 | 29.6 % |
| Gross Income | 24.12 | 86.58 | 259.0 % |
| Operating Income | (17.47) | 27.49 | 257.3 % |
| Net Income | (20.57) | 24.41 | 218.6 % |
| Average Shares | 23.52 | 23.52 | - |
| EPS (Riyals) | (0.87) | 1.04 | 218.6 % |
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 99.95 | 134.82 | 34.9 % |
| Gross Income | 3.06 | 23.66 | 673.8 % |
| Operating Income | (11.80) | 5.17 | 143.9 % |
| Net Income | (9.91) | 4.86 | 149.1 % |
| Average Shares | 23.52 | 23.52 | - |
| EPS (Riyals) | (0.42) | 0.21 | 149.1 % |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 122.83 | 134.82 | 9.8 % |
| Gross Income | 28.91 | 23.66 | (18.1 %) |
| Operating Income | 9.48 | 5.17 | (45.4 %) |
| Net Income | 9.57 | 4.86 | (49.2 %) |
| Average Shares | 23.52 | 23.52 | - |
| EPS (Riyals) | 0.41 | 0.21 | (49.2 %) |
In Q3 2021, the company turned to a net profit after Zakat and tax of SAR 4.9 million against a net loss of SAR 9.9 million a year earlier.
When compared to the previous quarter, net earnings fell 49.2% from SAR 9.6 million.
Shareholders’ equity, after minority interest, grew by 10.8% to SAR 322.864 million as of Sept. 30, 2021, from SAR 291.443 million a year earlier.
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