SABIC Agri-Nutrients Co. reported a net profit after Zakat and tax of SAR 2.513 billion for Q1 2022, an over five-fold rise from SAR 423 million in the year-earlier period, driven by an increase in average selling prices and sales volumes, despite higher selling and distribution expenses.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 1,506.35 | 4,657.12 | 209.2 % |
| Gross Income | 814.82 | 2,873.03 | 252.6 % |
| Operating Income | 671.81 | 2,614.20 | 289.1 % |
| Net Income | 422.58 | 2,512.84 | 494.6 % |
| Average Shares | 476.04 | 476.04 | - |
| EPS (Riyals) | 0.89 | 5.28 | 494.6 % |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 4,039.84 | 4,657.12 | 15.3 % |
| Gross Income | 3,282.79 | 2,873.03 | (12.5 %) |
| Operating Income | 3,082.55 | 2,614.20 | (15.2 %) |
| Net Income | 2,762.84 | 2,512.84 | (9.0 %) |
| Average Shares | 476.04 | 476.04 | - |
| EPS (Riyals) | 5.80 | 5.28 | (9.0 %) |
Compared to Q4 2021, net profit after Zakat and tax declined 9.1% from SAR 2.764 billion, due to higher selling, distribution, general and administrative expenses.
Total shareholders’ equity, after minority shares, jumped 53.8% year-on-year (YoY) to SAR 18.130 billion in the three-month period.
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