National Metal Manufacturing and Casting Co. (Maadaniyah) net loss after Zakat and tax widened to SAR 7.14 million in Q1 2022, from SAR 7.08 million a year earlier.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 65.26 | 77.03 | 18.0 % |
| Gross Income | 3.62 | 2.99 | (17.5 %) |
| Operating Income | (5.47) | (5.69) | (4.1 %) |
| Net Income | (7.09) | (7.14) | (0.7 %) |
| Average Shares | 29.95 | 35.40 | 18.2 % |
| EPS (Riyals) | (0.24) | (0.20) | 14.8 % |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 61.51 | 77.03 | 25.2 % |
| Gross Income | 1.11 | 2.99 | 168.6 % |
| Operating Income | (6.91) | (5.69) | 17.7 % |
| Net Income | (8.43) | (7.14) | 15.3 % |
| Average Shares | 35.40 | 35.40 | - |
| EPS (Riyals) | (0.24) | (0.20) | 15.3 % |
The increased losses were attributed to higher production cost, selling and distribution expenses, general and administrative expenses as well as Zakat provision.
On a sequential basis, the company narrowed losses from SAR 8.43 million in Q4 2021 on improved sales and lower financing charges.
Total shareholders’ equity, excluding minority interest, rose 32% to SAR 344.66 million as of March 31, 2022, from SAR 261.05 million a year ago.
The company’s accumulated losses reached SAR 36.51 million as of March 31, 2022, representing 10.31% of its SAR 354 million capital.
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