Saudi Cable widens net losses to SAR 43.2 mln in Q1 2020

21/06/2020 Argaam Exclusive

Saudi Cable Co. widened net losses after Zakat and tax by 34.6% to SAR 43.2 million for Q1 2020, from SAR 32.1 million a year earlier, due to lower trading volumes amid severe working capital requirements, higher expenses and increased loss share from associates.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 102.46 59.53 (41.9 %)
Gross Income (9.00) (17.31) (92.4 %)
Operating Income (26.69) (37.95) (42.2 %)
Net Income (32.10) (43.20) (34.6 %)
Average Shares 4.18 6.67 59.6 %
EPS (Riyals) (7.68) (6.47) 15.7 %

The company swung to losses from a net profit of SAR 12.3 million in Q4 2019, on lower trading volumes amid severe working capital requirements, higher expenses and increased loss share from associates.

 

The cable producer also did not include one-off favorable adjustments such as zakat settlement waiver and derecognition of unclaimed liabilities.

 

Accumulated losses stood at SAR 50.61 million, or 14.03% of capital by the end of Q1 2020.

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Share Price

Saudi Cable Co.
100.60
1.00 1.00 %

Saudi Cable Co. (SAUDI CABLE)

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Financial Ratios
Current
Market Cap (M Riyal) 671.20
Enterprise Value (EV) (M) 770.72
Shares Outstanding ((M)) 6.67
EPS ( Riyal) (TTM) 6.79
Book Value (BV) ( Riyal) (64.15)
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 38.44
P/E (TTM) 14.81
Price/book (1.57)
Return on Average Assets (%) (TTM) 6.7
Return on Average Equity (%) (TTM) -
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