Molan Steel reported a net loss of SAR 761,000 in 2022, against a net profit of SAR 4.2 million a year earlier.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 48.15 | 84.62 | 75.7 % |
| Gross Income | 7.83 | 5.32 | (32.0 %) |
| Operating Income | 4.48 | (0.41) | (109.1 %) |
| Net Income | 4.17 | (0.76) | (118.3 %) |
| Average Shares | 23.00 | 23.00 | - |
| EPS (Riyals) | 0.18 | (0.03) | (118.3 %) |
This was due to the sharp decline in global steel prices, as well as credit loss provision worth SAR 319.86.
Total shareholders' equity, no minority interest, reached SAR 34.83 million at the end of 2022, compared with SAR 27.30 million a year before.
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