Financial Results : SABIC Agri-Nutrients’ net profit surges to SAR 5.228 bln for 2021

SABIC Agri-Nutrients’ net profit surges to SAR 5.228 bln for 2021

27/01/2022 Argaam Exclusive

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SABIC Agri-Nutrients Co. reported net profit after Zakat and tax of SAR 5.228 billion for 2021, nearly a four-fold jump, from SAR 1.294 billion in a year-earlier period, driven by an increase in average selling prices, despite higher inventory provisions.



Financials (M)

Item 2020 2021 Change‬
Revenues 3,327.54 9,591.98 188.3 %
Gross Income 1,665.19 6,768.50 306.5 %
Operating Income 1,307.97 6,074.74 364.4 %
Net Income 1,294.40 5,228.02 303.9 %
Average Shares 416.67 476.04 14.2 %
Earnings Per Share before unusual items (Riyals) 3.11 11.53 271.2 %
EPS (Riyal) 3.11 10.98 253.5 %

Q4 2021 net profit after Zakat and tax reached SAR 2.763 billion, compared to SAR 233.56 million in the year-earlier period, due to higher average selling prices.

 

On a sequential basis, net profit more than doubled.



Current Quarter Comparison (M)

Compared With The
Item Q4 2020 Q4 2021 Change‬
Revenues 768.33 4,039.84 425.8 %
Gross Income 357.83 3,282.79 817.4 %
Operating Income 281.73 3,082.55 994.1 %
Net Income 233.57 2,762.84 1082.9 %
Average Shares 416.67 476.04 14.2 %
Earnings Per Share before unusual items (Riyal) 0.56 6.00 969.8 %
EPS (Riyal) 0.56 5.80 935.4 %

Total shareholders’ equity, excluding minority shares, surged 90.5% year-on-year (YoY) to SAR 15.554 billion for 2021.

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