Saudi Electricity turns to loss of SAR 1.109 bln in 9M 2020

29/10/2020 Argaam Exclusive

Saudi Electricity Company (SEC) reported a net loss after Zakat and tax of SAR 1.109 billion in the first nine months of 2020, compared to a net profit of SAR 1.979 billion in the same period last year. 

 

The losses were mainly driven by non-recurring items, including recording of a settlement of fuel dues differences to Saudi Aramco and a change in the sales mix towards higher residential and lower commercial and governmental consumption during COVID-19 lockdown period. In addition, the company reported higher purchased power costs, finance charges and provisions. 



Financials (M)

Item 9m 2019 9m 2020 Change‬
Revenues 48,746.05 48,583.29 (0.3 %)
Gross Income 4,943.83 2,936.71 (40.6 %)
Operating Income 4,030.47 1,824.68 (54.7 %)
Net Income after deducting Mudaraba Instrument profit 1,978.93 (1109.44) (156.1 %)
Average Shares 4,166.59 4,166.59 -
EPS after deducting Mudaraba Instrument profit (Riyals) 0.47 (0.27) (156.1 %)

In Q3 2020, the utility provider reported a net profit after Zakat and tax of SAR 2.201 billion, down 18%, compared to SAR 2.679 billion in the same period last year.

 

The company turned to profit in Q3 2020, compared to a net loss after Zakat and tax of SAR 869 million in Q2 2020. 



Current Quarter Comparison (M)

Compared With The
Item Q3 2019 Q3 2020 Change‬
Revenues 20,830.54 20,517.11 (1.5 %)
Gross Income 3,759.55 3,340.09 (11.2 %)
Operating Income 3,419.16 2,864.58 (16.2 %)
Net Income 2,679.39 2,200.58 (17.9 %)
Average Shares 4,166.59 4,166.59 -
EPS (Riyals) 0.64 0.53 (17.9 %)

View other reports

Share Price

Saudi Electricity Co.
16.88
0.16 0.96 %

Saudi Electricity Co. (SAUDI ELECTRICITY)

More


Financial Ratios
Current
Market Cap (M Riyal) 70,332.04
Enterprise Value (EV) (M) 197,045.96
Shares Outstanding ((M)) 4,166.59
EPS ( Riyal) (TTM) 0.85
Book Value (BV) ( Riyal) 22.25
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 22.97
P/E (TTM) 19.89
Price/book 0.76
Return on Average Assets (%) (TTM) 0.7
Return on Average Equity (%) (TTM) 3.8
more

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request