The National Company for Glass Industries (Zoujaj) reported a net profit of SAR 8.9 million in H1 2023, a decline of 88% from SAR 72.4 million in the year-earlier period.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 50.97 | 76.49 | 50.1 % |
| Gross Income | 7.16 | 17.46 | 143.8 % |
| Operating Income | 0.68 | 10.55 | 1448.9 % |
| Net Income | 72.37 | 8.97 | (87.6 %) |
| Average Shares | 32.90 | 32.90 | - |
| EPS (Riyals) | 2.20 | 0.27 | (87.6 %) |
The fall in profit was attributed to a decline in the company’s profit share from associates in the float glass business division due to the maintenance works at Saudi Guardian International Float Glass Co. and a profit drop at Guardian Zoujaj International Float Glass Co.
| Item | Q2 2022 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 22.70 | 39.40 | 73.6 % |
| Gross Income | 2.29 | 7.70 | 237.0 % |
| Operating Income | (0.91) | 4.19 | 560.5 % |
| Net Income | 37.09 | 0.38 | (99.0 %) |
| Average Shares | 32.90 | 32.90 | - |
| EPS (Riyals) | 1.13 | 0.01 | (99.0 %) |
| Item | Q1 2023 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 37.09 | 39.40 | 6.2 % |
| Gross Income | 9.76 | 7.70 | (21.1 %) |
| Operating Income | 7.10 | 4.19 | (41.0 %) |
| Net Income | 8.59 | 0.38 | (95.6 %) |
| Average Shares | 32.90 | 32.90 | - |
| EPS (Riyals) | 0.26 | 0.01 | (95.6 %) |
The company reported a net profit of SAR 378,000 in Q2 2023 from SAR 37.09 million a year earlier.
On a quarterly basis, net earnings dropped by 95.6% from SAR 8.59 million.
Total shareholders’ equity, no minority interest, stood at SAR 700.7 million as of June 30, 2023, compared to SAR 679.7 million in a prior-year period.
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