Saudi Arabian Mining Co. (Maaden) posted an over twofold increase in Q1 2022 net profit to SAR 2.171 billion, from SAR 761.2 million in the year-earlier period.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 5,449.77 | 8,914.08 | 63.6 % |
| Gross Income | 1,436.40 | 3,884.06 | 170.4 % |
| Operating Income | 1,046.98 | 3,262.38 | 211.6 % |
| Net Income | 761.16 | 2,171.92 | 185.3 % |
| Average Shares | 3,691.77 | 3,691.77 | - |
| EPS (Riyals) | 0.21 | 0.59 | 185.3 % |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 8,519.27 | 8,914.08 | 4.6 % |
| Gross Income | 3,600.92 | 3,884.06 | 7.9 % |
| Operating Income | 3,088.31 | 3,262.38 | 5.6 % |
| Net Income | 2,090.18 | 2,171.92 | 3.9 % |
| Average Shares | 3,691.77 | 3,691.77 | - |
| EPS (Riyals) | 0.57 | 0.59 | 3.9 % |
The positive performance was driven by higher average realized selling prices of all products except for industrial mineral products, better net profit from Maaden’s joint ventures and lower finance costs. The company also cited higher income from time deposits.
Compared to Q4 2021, net profit grew by 3.9% from SAR 2.090 billion.
Shareholders' equity, after minority interest, jumped 22.17% to SAR 37.923 billion in Q1 2022, from SAR 31.040 billion in the 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}}