Alujain Corp. turned to a net loss of SAR 82.3 million in 2023, against a net profit of SAR 64.5 million a year earlier.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 1,911.18 | 1,396.73 | (26.9 %) |
| Gross Income | 403.69 | 232.85 | (42.3 %) |
| Operating Income | 158.38 | 73.25 | (53.8 %) |
| Net Income | 64.54 | (82.25) | (227.4 %) |
| Average Shares | 69.20 | 69.20 | - |
| EPS (Riyals) | 0.93 | (1.19) | (227.4 %) |
The annual losses were attributed to lower revenue as selling prices and sales volumes declined by 19% and 10% year-on-year (YoY), respectively, despite a drop in propane cost.
The company also reported higher finance costs and a decline in non-recurring other income.
In Q4 2023, Alujain widened net losses to SAR 107.8 million from SAR 72.9 million in Q4 2022.
Net losses also increased from SAR 15.9 million in Q3 2023.
| Item | Q4 2022 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 453.73 | 175.37 | (61.4 %) |
| Gross Income | 73.62 | 22.79 | (69.0 %) |
| Operating Income | 4.19 | (24.66) | (688.3 %) |
| Net Income | (72.94) | (66.72) | 8.5 % |
| Average Shares | 69.20 | 69.20 | - |
| EPS (Riyals) | (1.05) | (0.96) | 8.5 % |
| Item | Q3 2023 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 422.44 | 175.37 | (58.5 %) |
| Gross Income | 87.54 | 22.79 | (74.0 %) |
| Operating Income | 50.64 | (24.66) | (148.7 %) |
| Net Income | 15.94 | (66.72) | (518.6 %) |
| Average Shares | 69.20 | 69.20 | - |
| EPS (Riyals) | 0.23 | (0.96) | (518.6 %) |
Shareholders’ equity, after minority interest, reached SAR 3.03 billion as of Dec. 31, 2023, compared to SAR 2.58 billion in the year-earlier period.
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