Zoujaj 9M 2022 profit rises to SAR 92.7 mln; Q3 up 6% to SAR 20.3 mln

Zoujaj 9M 2022 profit rises to SAR 92.7 mln; Q3 up 6% to SAR 20.3 mln

25/10/2022 Argaam Exclusive

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The National Company for Glass Industries (Zoujaj) reported a net profit after Zakat and tax of SAR 92.7 million for the first nine months of 2022, a more than two-fold increase, compared to SAR 38.9 million in the year-earlier period, on an increase in the earnings of associated companies in the float glass sector.  



Financials (M)

Item 9m 2021 9m 2022 Change‬
Revenues 58.31 81.43 39.7 %
Gross Income 2.70 6.29 132.9 %
Operating Income (8.30) (4.02) 51.5 %
Net Income 38.90 92.66 138.2 %
Average Shares 32.90 32.90 -
EPS (Riyals) 1.18 2.82 138.2 %

Q3 2022 net profit after Zakat and tax amounted to SAR 20.3 million, up 6% from SAR 19.1 million, due to increased earnings from associated companies in the float glass sector.  



Current Quarter Comparison (M)

Compared With The
Item Q3 2021 Q3 2022 Change‬
Revenues 19.52 30.46 56.0 %
Gross Income (0.07) (0.87) (1,077.0 %)
Operating Income (5.20) (4.70) 9.5 %
Net Income 19.05 20.29 6.5 %
Average Shares 32.90 32.90 -
EPS (Riyals) 0.58 0.62 6.5 %

On a sequential basis, Q3 net profit dropped 45.3% from SAR 37.1 million in Q2 2022.

 

This profit decline was attributed to lower sales and decreased gross margins of the core glass containers business activity due to higher raw material prices.   

  

Total shareholders’ equity, after minority interest, reached SAR 700 million as of Sept. 30, 2022, compared to SAR 629.2 million in the year-earlier period  

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2013 24.21 (5.4 %) 8.59 (12.6 %) 8.62 (51.3 %) 0.29
Q2 2013 28.96 (3.7 %) 11.56 (4.8 %) 13.08 (17.5 %) 0.44
Q3 2013 24.22 (8.5 %) 8.47 (13.9 %) 13.40 14.8 % 0.45
Q4 2013 24.64 (19.6 %) 8.57 (14.6 %) 9.82 722.4 % 0.33
Q1 2014 29.88 23.4 % 10.63 23.8 % 14.83 72.0 % 0.49
Q2 2014 21.24 (26.7 %) 6.39 (44.8 %) 14.09 7.7 % 0.47
Q3 2014 23.66 (2.3 %) 9.30 9.8 % 16.86 25.8 % 0.56
Q4 2014 25.25 2.5 % 10.41 21.4 % 15.74 60.2 % 0.52
Q1 2015 27.81 (6.9 %) 10.68 0.5 % 18.64 25.7 % 0.62
Q2 2015 23.17 9.1 % 8.48 32.8 % 16.62 18.0 % 0.55
Q3 2015 20.24 (14.5 %) 5.14 (44.8 %) 6.30 (62.6 %) 0.21
Q4 2015 32.67 29.4 % 11.40 9.5 % 3.54 (77.5 %) 0.12
Q1 2016 33.73 21.3 % 12.08 13.1 % 13.66 (26.7 %) 0.46
Q2 2016 32.85 41.8 % 9.50 12.0 % 11.64 (30.0 %) 0.39
Q3 2016 17.01 (16.0 %) 2.34 (54.4 %) 4.70 (25.4 %) 0.16
Q4 2016 17.24 (47.2 %) 3.06 (73.2 %) (7.82) (320.7 %) (0.26)
Q1 2017 36.47 8.1 % 11.06 (8.4 %) 15.20 11.3 % 0.47
Q2 2017 26.49 (19.4 %) 7.21 (24.2 %) 37.61 223.2 % 1.17
Q3 2017 31.67 86.2 % 5.57 138.0 % 14.78 214.2 % 0.46
Q4 2017 22.27 29.2 % 2.48 (19.1 %) (2.38) 69.6 % (0.07)
Q1 2018 24.65 (32.4 %) 8.72 (21.2 %) 11.37 (25.2 %) 0.35
Q2 2018 29.18 10.2 % 9.35 29.8 % 11.56 (69.3 %) 0.35
Q3 2018 24.56 (22.4 %) 6.90 23.8 % 8.68 (41.3 %) 0.26
Q4 2018 20.28 (8.9 %) 4.70 89.5 % 0.14 105.7 % 0.00
Q1 2019 25.97 5.4 % 6.48 (25.6 %) 4.63 (59.3 %) 0.14
Q2 2019 20.40 (30.1 %) 2.24 (76.0 %) (1.41) (112.2 %) (0.04)
Q3 2019 13.58 (44.7 %) (2.73) (139.6 %) (6.57) (175.7 %) (0.20)
Q4 2019 14.91 (26.5 %) (0.65) (113.9 %) (27.97) (20663.2 %) (0.85)
Q1 2020 22.11 (14.8 %) 2.49 (61.7 %) 2.29 (50.5 %) 0.07
Q2 2020 19.01 (6.8 %) 0.90 (59.9 %) (10.07) (612.4 %) (0.31)
Q3 2020 16.22 19.4 % 0.10 103.6 % 2.64 140.1 % 0.08
Q4 2020 15.96 7.0 % (5.74) (778.7 %) (5.89) 78.9 % (0.18)
Q1 2021 22.03 (0.4 %) 2.13 (14.2 %) 9.79 327.9 % 0.30
Q2 2021 16.75 (11.9 %) 0.64 (28.6 %) 10.05 199.7 % 0.31
Q3 2021 19.52 20.4 % (0.07) (175.5 %) 19.05 622.5 % 0.58
Q4 2021 28.62 79.4 % 0.09 101.6 % 12.22 307.5 % 0.37
Q1 2022 28.28 28.3 % 4.88 128.6 % 35.28 260.2 % 1.07
Q2 2022 22.70 35.5 % 2.29 255.9 % 37.09 269.2 % 1.13
Q3 2022 30.46 56.0 % (0.87) (1,077.0 %) 20.29 6.5 % 0.62

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2013 36.45 % 36.00 % 31.04 %
Q2 2013 36.29 % 35.14 % 28.84 %
Q3 2013 35.78 % 34.67 % 31.03 %
Q4 2013 36.46 % 35.04 % 44.04 %
Q1 2014 36.43 % 35.32 % 47.48 %
Q2 2014 34.07 % 32.67 % 52.15 %
Q3 2014 35.10 % 32.17 % 55.92 %
Q4 2014 36.72 % 32.85 % 61.49 %
Q1 2015 37.55 % 31.98 % 66.68 %
Q2 2015 38.92 % 32.33 % 67.93 %
Q3 2015 35.98 % 29.97 % 59.40 %
Q4 2015 34.37 % 31.29 % 43.42 %
Q1 2016 33.79 % 34.71 % 36.54 %
Q2 2016 31.90 % 36.13 % 29.41 %
Q3 2016 30.38 % 37.26 % 28.85 %
Q4 2016 26.76 % 36.55 % 30.93 %
Q1 2017 25.07 % 35.55 % 31.60 %
Q2 2017 24.35 % 37.55 % 32.86 %
Q3 2017 24.05 % 36.80 % 37.56 %
Q4 2017 22.52 % 34.31 % 39.91 %
Q1 2018 22.82 % 35.90 % 46.08 %
Q2 2018 24.24 % 36.67 % 50.02 %
Q3 2018 27.27 % 40.70 % 52.88 %
Q4 2018 30.07 % 47.29 % 63.60 %
Q1 2019 27.43 % 45.31 % 53.63 %
Q2 2019 22.28 % 42.24 % 40.08 %
Q3 2019 13.33 % 36.44 % 20.64 %
Q4 2019 7.14 % 28.99 % 1.34 %
Q1 2020 1.89 % 24.63 % (6.41 %)
Q2 2020 - 22.70 % (19.96 %)
Q3 2020 3.92 % 24.40 % (7.41 %)
Q4 2020 (3.08 %) 16.93 % (15.05 %)
Q1 2021 (3.56 %) 17.15 % (4.82 %)
Q2 2021 (4.04 %) 16.82 % 23.38 %
Q3 2021 (4.09 %) 15.22 % 44.44 %
Q4 2021 3.21 % 16.75 % 58.80 %
Q1 2022 5.94 % 19.04 % 82.21 %
Q2 2022 7.24 % 20.71 % 107.42 %
Q3 2022 5.80 % 18.77 % 99.39 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2013 30.00 1.15 1.15 19.08
Q2 2013 30.00 1.06 1.06 18.35
Q3 2013 30.00 1.12 1.12 19.03
Q4 2013 30.00 1.50 1.50 19.69
Q1 2014 30.00 1.70 1.70 20.41
Q2 2014 30.00 1.74 1.74 19.49
Q3 2014 30.00 1.85 1.85 20.04
Q4 2014 30.00 2.05 2.05 20.56
Q1 2015 30.00 2.18 2.18 21.18
Q2 2015 30.00 2.26 2.26 19.98
Q3 2015 30.00 1.91 1.91 19.19
Q4 2015 30.00 1.50 1.50 19.31
Q1 2016 30.00 1.34 1.34 19.73
Q2 2016 30.00 1.17 1.17 19.55
Q3 2016 30.00 1.12 1.12 18.93
Q4 2016 30.00 0.74 1.04 18.50
Q1 2017 32.18 0.74 1.02 19.06
Q2 2017 32.18 1.54 0.99 19.35
Q3 2017 32.18 1.86 1.31 19.30
Q4 2017 32.18 2.03 1.45 19.46
Q1 2018 32.90 1.87 1.47 19.53
Q2 2018 32.90 1.07 1.64 19.33
Q3 2018 32.90 0.89 1.62 19.77
Q4 2018 32.90 0.96 1.91 19.83
Q1 2019 32.90 0.76 1.63 20.21
Q2 2019 32.90 0.37 1.11 19.08
Q3 2019 32.90 (0.10) 0.50 18.88
Q4 2019 32.90 (0.95) 0.03 18.05
Q1 2020 32.90 (1.02) (0.14) 18.10
Q2 2020 32.90 (1.29) (0.42) 17.75
Q3 2020 32.90 (1.01) (0.16) 17.83
Q4 2020 32.90 (0.34) (0.34) 17.94
Q1 2021 32.90 (0.11) (0.11) 18.36
Q2 2021 32.90 0.50 0.50 18.63
Q3 2021 32.90 1.00 1.00 19.24
Q4 2021 32.90 1.55 1.55 19.46
Q1 2022 32.90 2.33 2.33 20.03
Q2 2022 32.90 3.15 3.24 20.66
Q3 2022 32.90 3.19 3.32 21.28

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2013 24.93 24.93 1.51
Q2 2013 25.66 25.66 1.48
Q3 2013 30.42 30.42 1.79
Q4 2013 21.97 21.97 1.67
Q1 2014 20.33 20.33 1.70
Q2 2014 23.97 23.97 2.14
Q3 2014 27.13 27.13 2.51
Q4 2014 17.51 17.51 1.75
Q1 2015 19.66 19.66 2.02
Q2 2015 19.84 19.84 2.25
Q3 2015 17.33 17.33 1.73
Q4 2015 19.19 19.19 1.49
Q1 2016 16.87 16.87 1.14
Q2 2016 19.52 19.52 1.17
Q3 2016 15.41 15.41 0.91
Q4 2016 29.51 20.99 1.18
Q1 2017 26.07 18.90 1.08
Q2 2017 13.15 20.46 1.03
Q3 2017 11.79 16.77 1.11
Q4 2017 10.63 14.86 1.08
Q1 2018 11.07 14.03 1.06
Q2 2018 18.67 12.23 1.04
Q3 2018 20.49 11.25 0.92
Q4 2018 18.66 9.44 0.91
Q1 2019 24.21 11.29 0.91
Q2 2019 48.97 16.11 0.94
Q3 2019 NEG 35.88 0.96
Q4 2019 NEG More than 100 0.98
Q1 2020 NEG NEG 0.76
Q2 2020 NEG NEG 0.91
Q3 2020 NEG NEG 1.64
Q4 2020 NEG NEG 1.52
Q1 2021 NEG NEG 2.03
Q2 2021 84.58 84.58 2.29
Q3 2021 40.02 40.02 2.09
Q4 2021 28.32 28.32 2.26
Q1 2022 17.63 17.63 2.05
Q2 2022 10.29 10.01 1.57
Q3 2022 12.08 11.58 1.81


Financial Ratios
Current
Market Cap (M Riyal) 1,403.19
Enterprise Value (EV) (M) 1,367.83
Shares Outstanding ((M)) 32.90
EPS ( Riyal) (TTM) 1.89
Book Value (BV) ( Riyal) 22.13
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 22.55
P/E (TTM) 22.55
Price/book 1.93
Return on Average Assets (%) (TTM) 7.7
Return on Average Equity (%) (TTM) 8.7
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Share Price

The National Company for Glass Industries
42.65
(0.15) (0.35 %)

The National Company for Glass Industries (ZOUJAJ)

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