Aqaseem profit declines 16.6% to SAR 6 mln in 2022

29/03/2023 Argaam Exclusive

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Share Price

Aqaseem Factory for Chemicals and Plastics Co.
60.00
0.00 0.00 %

Aqaseem Factory for Chemicals and Plastics Co. (AQASEEM)

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Aqaseem Factory for Chemicals and Plastics Co. reported a 17% drop in 2022 net profit to SAR 6 million, from SAR 7.2 million in 2021.



Financials (M)

Item 2021 2022 Change‬
Revenues 98.72 140.51 42.3 %
Gross Income 23.88 29.02 21.5 %
Operating Income 8.30 7.20 (13.2 %)
Net Income 7.22 6.02 (16.6 %)
Average Shares 2.50 2.50 -
EPS (Riyals) 2.89 2.41 (16.6 %)

The lower profit was attributed to a 2% increase year-on-year (YoY) in the cost of raw materials due to global market conditions. Operating costs rose 1% YoY.



Shareholders’ equity, no minority interest, rose to SAR 45.76 million as of Dec. 31, 2022, from SAR 39.94 million a year earlier.

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