Thimar Development Holding Co. narrowed net losses by 78.7% to SAR 11.7 million in 2020 from SAR 56.7 million a year earlier.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 41.89 | 3.67 | (91.2 %) |
| Gross Income | 0.44 | (3.56) | (900.9 %) |
| Operating Income | (37.48) | (12.33) | 67.1 % |
| Net Income | (56.74) | (11.68) | 79.4 % |
| Average Shares | 14.88 | 14.88 | - |
| EPS (Riyals) | (3.81) | (0.79) | 79.4 % |
Losses decreased as the company allocated a provision for expected credit losses of SAR 23 million. Thimar excluded SAR 15 million losses from projects in progress. Moreover, the company’s loss share from associates stood at SAR 3 million.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 0.81 | 1.30 | 60.3 % |
| Gross Income | 0.05 | (3.62) | (7795.7 %) |
| Operating Income | (10.24) | (2.79) | 72.8 % |
| Net Income | (11.26) | (2.67) | 76.3 % |
| Average Shares | 14.88 | 14.88 | - |
| EPS (Riyals) | (0.76) | (0.18) | 76.3 % |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 1.23 | 1.30 | 5.9 % |
| Gross Income | 0.01 | (3.62) | (25935.7 %) |
| Operating Income | (5.56) | (2.79) | 49.9 % |
| Net Income | (5.32) | (2.67) | 49.8 % |
| Average Shares | 14.88 | 14.88 | - |
| EPS (Riyals) | (0.36) | (0.18) | 49.8 % |
In Q4 2020, Thimar reduced net losses to SAR 2.7 million from SAR 11.26 million in the year-earlier period.
Shareholders’ equity, after minority interest, decreased by 24.3% to SAR 36.388 million as of Dec. 31, 2020, from SAR 48.068 million a year earlier.
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