The National Company for Glass Industries (Zoujaj) reported a net profit of SAR 8.6 million in Q1 2023, a decline of 76% from SAR 35.3 million in the year earlier period, driven by a decline of the associates’ profit share in the float glass business division due to the maintenance works at Saudi Guardian International Float Glass Co.
| Item | Q1 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 28.28 | 37.09 | 31.2 % |
| Gross Income | 4.88 | 9.76 | 100.1 % |
| Operating Income | 1.59 | 7.10 | 346.3 % |
| Net Income | 35.28 | 8.59 | (75.7 %) |
| Average Shares | 32.90 | 32.90 | - |
| EPS (Riyals) | 1.07 | 0.26 | (75.7 %) |
| Item | Q4 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 30.89 | 37.09 | 20.1 % |
| Gross Income | (2.86) | 9.76 | 441.7 % |
| Operating Income | (7.28) | 7.10 | 197.5 % |
| Net Income | 11.67 | 8.59 | (26.4 %) |
| Average Shares | 32.90 | 32.90 | - |
| EPS (Riyals) | 0.35 | 0.26 | (26.4 %) |
On a quarterly basis, net earnings dropped by 26.3% from SAR 11.67 million.
Total shareholders’ equity, no minority interest, stood at SAR 700.3 million as of March 31, 2023, compared to SAR 659 million in a prior-year period.
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