Saudi Industrial Investment Group (SIIG) reported a net profit after Zakat and tax of SAR 574 million for the first nine months of 2022, a slump of 43%, compared to SAR 1.015 billion in the year-earlier period, driven by lower profit share from jointly managed projects due to lower profit margins, higher feedstock costs and lower sales volumes.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Operating Income | (41.45) | (52.50) | (26.7 %) |
| Net Income | 1,014.62 | 573.88 | (43.4 %) |
| Average Shares | 450.00 | 678.60 | 50.8 % |
| EPS (Riyals) | 2.25 | 0.85 | (62.5 %) |
SIIG also cited an increase in Zakat as well as general and administrative expenses (G&As) during the nine-month period.
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Operating Income | (12.95) | (7.19) | 44.5 % |
| Net Income | 203.95 | 54.80 | (73.1 %) |
| Average Shares | 450.00 | 678.60 | 50.8 % |
| EPS (Riyals) | 0.45 | 0.08 | (82.2 %) |
| Item | Q2 2022 | Q3 2022 | Change |
|---|---|---|---|
| Operating Income | (35.78) | (7.19) | 79.9 % |
| Net Income | 284.20 | 54.80 | (80.7 %) |
| Average Shares | 678.60 | 678.60 | - |
| EPS (Riyals) | 0.42 | 0.08 | (80.7 %) |
Q3 net profit after Zakat and tax plummeted 73% year-on-year (YoY) to SAR 55 million from SAR 204 million, on lower profit share from jointly managed projects due to lower selling prices and higher feedstock costs.
On a sequential basis, Q3 net profit dropped 80.6%, from SAR 284 million.
Total shareholders’ equity, after minority rights, reached SAR 11.548 billion as of Sept. 30, 2022, compared to SAR 7.201 billion in prior-year period.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}