TAQAT Mineral Trading Co. reported a net loss of SAR 11.6 million in 2023, versus a net profit of SAR 832,000 a year earlier.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 239.98 | 156.41 | (34.8 %) |
| Gross Income | 8.44 | (0.39) | (104.6 %) |
| Operating Income | 1.75 | (9.29) | (630.3 %) |
| Net Income | 0.83 | (11.62) | (1496.9 %) |
| Average Shares | 9.75 | 9.75 | - |
| EPS (Riyals) | 0.09 | (1.19) | (1496.9 %) |
This was due to the steep decline in selling prices of steel scraps, which led to lower profit margins. This is besides higher finance costs on soaring interest rates, paired with increased general and administrative expenses related to the company’s Nomu listing.
Total shareholders’ equity, no minority interest, stood at SAR 88.66 million by Dec. 31, 2023, down from SAR 103.20 million a year ago.
Accumulated losses reached SAR 10.33 million by Dec. 31, 2023, accounting for 10.6% of the company’s capital.
|
Historical Data |
|||
|
Period |
Revenue (SAR mln) |
Net profit (SAR mln) |
EPS (SAR) |
|
H1 2022 |
141.86 |
2.55 |
0.26 |
|
H2 2022 |
98.12 |
(1.72) |
(0.17) |
|
H1 2023 |
78.23 |
(2.76) |
(0.28) |
|
H2 2023 |
78.18 |
(8.85) |
(0.91) |
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