National Metal Manufacturing and Casting Co. (Maadaniyah) narrowed its net loss after Zakat and tax to SAR 40.8 million in 2020 from SAR 65.1 million in 2019.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 263.25 | 205.96 | (21.8 %) |
| Gross Income | 17.24 | 4.43 | (74.3 %) |
| Operating Income | (13.37) | (29.87) | (123.5 %) |
| Net Income | (65.11) | (40.82) | 37.3 % |
| Average Shares | 29.95 | 29.95 | - |
| EPS (Riyals) | (2.17) | (1.36) | 37.3 % |
The metal manufacturer attributed the decline in loss to lower sales due to COVID-19 and the precautionary measures imposed to limit the spread, in addition to recording provisions for doubtful accounts and slow-moving inventory amounting to SAR 12.1 million.
The firm also cited recording goodwill impairment losses of SAR 40.1 million in the past year.
The company widened its net loss after Zakat and tax to SAR 19.8 million in Q4 2020 compared to SAR 13.7 million in the same period a year earlier.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 58.68 | 47.26 | (19.5 %) |
| Gross Income | 0.13 | (5.08) | (4131.7 %) |
| Operating Income | (8.12) | (14.26) | (75.6 %) |
| Net Income | (13.74) | (19.78) | (44.0 %) |
| Average Shares | 29.95 | 29.95 | - |
| EPS (Riyals) | (0.46) | (0.66) | (44.0 %) |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 41.33 | 47.26 | 14.4 % |
| Gross Income | 3.81 | (5.08) | (233.3 %) |
| Operating Income | (3.90) | (14.26) | (265.5 %) |
| Net Income | (5.86) | (19.78) | (237.7 %) |
| Average Shares | 29.95 | 29.95 | - |
| EPS (Riyals) | (0.20) | (0.66) | (237.7 %) |
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