Nama Chemicals Co.’s net profit after Zakat and tax more than doubled to SAR 54.7 million in the first nine months of 2022, compared to SAR 24.4 million in the year-ago period.
The profit increase was driven by a higher average profit margin for most finished products.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Revenues | 420.46 | 460.00 | 9.4 % |
| Gross Income | 86.58 | 120.65 | 39.4 % |
| Operating Income | 27.49 | 61.92 | 125.3 % |
| Net Income | 24.41 | 54.72 | 124.2 % |
| Average Shares | 23.52 | 23.52 | - |
| EPS (Riyals) | 1.04 | 2.33 | 124.2 % |
In Q3 2022, Nama turned to a loss of SAR 5.4 million, from a profit of SAR 4.9 million in the year-before period, on lower average profit margin for finished products and other income as well as higher general and administrative expenses and finance cost.
Compared to the previous quarter, the company turned to a loss from a net profit of SAR 26.7 million.
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 134.82 | 132.30 | (1.9 %) |
| Gross Income | 23.66 | 17.23 | (27.2 %) |
| Operating Income | 5.17 | (1.68) | (132.4 %) |
| Net Income | 4.86 | (5.37) | (210.3 %) |
| Average Shares | 23.52 | 23.52 | - |
| EPS (Riyals) | 0.21 | (0.23) | (210.3 %) |
| Item | Q2 2022 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 154.89 | 132.30 | (14.6 %) |
| Gross Income | 51.38 | 17.23 | (66.5 %) |
| Operating Income | 30.81 | (1.68) | (105.4 %) |
| Net Income | 26.67 | (5.37) | (120.1 %) |
| Average Shares | 23.52 | 23.52 | - |
| EPS (Riyals) | 1.13 | (0.23) | (120.1 %) |
Shareholders’ equity, excluding minority interest, grew to SAR 387.472 million as of Sept. 30, 2022, from SAR 322.863 million in the year-earlier period.
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