Financial Results : Savola net profit slumps 45% to SAR 476.2 mln in 9M 2021

Savola net profit slumps 45% to SAR 476.2 mln in 9M 2021

27/10/2021 Argaam Exclusive

View other reports

Savola Group reported a net profit after Zakat and tax of SAR 476.2 million for the first nine months of 2021, a decline of 45% from SAR 866.1 million in the same period last year.

 

The profit decline was attributed to lower sales and margins in the retail sector, along with lower share of profits from associates. The firm also noted higher Zakat and tax expenses.

 

The profit drop was partially offset by lower operating expenses and net financial charges.



Financials (M)

Item 9m 2020 9m 2021 Change‬
Revenues 16,517.24 17,913.90 8.5 %
Gross Income 3,566.11 3,350.92 (6.0 %)
Operating Income 851.55 639.53 (24.9 %)
Net Income 866.08 476.24 (45.0 %)
Average Shares 241.05 241.05 -
Earnings Per Share before unusual items (Riyals) 3.51 1.98 (43.6 %)
EPS (Riyal) 3.59 1.98 (45.0 %)


Current Quarter Comparison (M)

Compared With The
Item Q3 2020 Q3 2021 Change‬
Revenues 4,587.28 6,048.46 31.9 %
Gross Income 1,064.43 1,023.66 (3.8 %)
Operating Income 214.56 152.76 (28.8 %)
Net Income 283.74 122.40 (56.9 %)
Average Shares 241.05 241.05 -
Earnings Per Share before unusual items (Riyal) 1.09 0.51 (53.4 %)
EPS (Riyal) 1.18 0.51 (56.9 %)

Q3 2021 net profit after Zakat and tax slumped 57% year-on-year (YoY) to SAR 122.4 million, as gross profit fell mainly due to the lower margins in retail.

 

On a sequential basis, Q3 net profit fell 38.8% from SAR 200 million.

 

View more financial results

 

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.