Nama Chemicals Co. made a profit of SAR 37 million in 2022, a leap of 34% from SAR 27.7 million in 2021.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 554.28 | 577.21 | 4.1 % |
| Gross Income | 99.68 | 120.94 | 21.3 % |
| Operating Income | 15.81 | 43.65 | 176.1 % |
| Net Income | 27.69 | 37.02 | 33.7 % |
| Average Shares | 23.52 | 23.52 | - |
| EPS (Riyals) | 1.18 | 1.57 | 33.7 % |
The profit growth was backed by an increase in average selling prices of almost all end products. The company also reported a decline in selling and marketing expenses, general and administrative expenses, as well as finance costs.
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 133.81 | 117.21 | (12.4 %) |
| Gross Income | 13.10 | 0.29 | (97.8 %) |
| Operating Income | (11.67) | (18.27) | (56.5 %) |
| Net Income | 3.28 | (17.70) | (639.0 %) |
| Average Shares | 23.52 | 23.52 | - |
| EPS (Riyals) | 0.14 | (0.75) | (639.0 %) |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 132.30 | 117.21 | (11.4 %) |
| Gross Income | 17.23 | 0.29 | (98.3 %) |
| Operating Income | (1.68) | (18.27) | (989.1 %) |
| Net Income | (5.37) | (17.70) | (229.9 %) |
| Average Shares | 23.52 | 23.52 | - |
| EPS (Riyals) | (0.23) | (0.75) | (229.9 %) |
In Q4 2022, the chemicals producer swung to a net loss of SAR 17.7 million, against a net profit of SAR 3.28 million in the prior-year period.
The fourth-quarter net losses widened from SAR 5.37 million in Q3 2022.
Shareholders’ equity, no minority interest, increased to SAR 385.97 million as of Dec. 31, 2022, from SAR 349.81 million a year earlier.
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