Tourism Enterprise Co. (Shams) reported a net loss after Zakat and tax of SAR 14 million in 2021, against SAR 8.2 million in losses a year earlier.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 16.06 | 15.98 | (0.5 %) |
| Gross Income | 5.43 | 5.15 | (5.3 %) |
| Operating Income | (5.56) | (12.97) | (133.0 %) |
| Net Income | (8.20) | (14.04) | (71.3 %) |
| Average Shares | 677.40 | 677.40 | - |
| EPS (Halala) | (1.21) | (2.07) | (71.3 %) |
Widening losses were mainly due to the increase in the cost of revenue, a rise in selling and marketing expenses to develop the company’s business and re-configure facilities and infrastructure, in addition to higher expenses of claims and Zakat provisions.
Shams turned to a net profit after Zakat and tax of SAR 10,000 in Q4 2021 from a loss of SAR 2.01 million in Q4 2020.
On a sequential basis, the company turned to profit from a loss of SAR 90,000 in Q3 2021.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 5.80 | 3.76 | (35.2 %) |
| Gross Income | 3.50 | 1.82 | (48.0 %) |
| Operating Income | 0.13 | 0.19 | 50.8 % |
| Net Income | (2.01) | 0.01 | 100.2 % |
| Average Shares | 677.40 | 677.40 | - |
| EPS (Halala) | (0.30) | 0.00 | 100.2 % |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 4.24 | 3.76 | (11.3 %) |
| Gross Income | 0.79 | 1.82 | 129.5 % |
| Operating Income | 0.07 | 0.19 | 196.9 % |
| Net Income | 0.09 | 0.01 | (94.7 %) |
| Average Shares | 677.40 | 677.40 | - |
| EPS (Halala) | 0.01 | 0.00 | (94.7 %) |
Total shareholders’ equity, excluding minority interest, fell 20.4% to SAR 55.439 million from SAR 69.642 million a year ago.
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