Amiantit widens 2020 net losses to SAR 389.4 mln

25/03/2021 Argaam Exclusive

Saudi Arabian Amiantit Co. widened its net loss after Zakat and tax to SAR 389.4 million for 2020, from SAR 338.5 million a year earlier.

 

The company attributed the increased losses a 43.5% drop year-on-year (YoY) in sales, amid the COVID-19 pandemic outbreak. The company also allocated SAR 113.17 million provisions in 2020 and reported an increase in Zakat provisions by SAR 23.8 million.



Financials (M)

Item 2019 2020 Change‬
Revenues 780.41 441.02 (43.5 %)
Gross Income (146.51) (65.15) 55.5 %
Operating Income (247.51) (153.41) 38.0 %
Net Income (338.48) (389.35) (15.0 %)
Average Shares 30.25 30.25 -
EPS (Riyals) (11.19) (12.87) (15.0 %)

Amiantit’s net losses widened to SAR 145.3 million in Q4 2020 from SAR 37.39 million in prior-year period.

 

Shareholders’ equity, excluding minority interest, fell by 55.9% to SAR 148.579 million in 2020, from SAR 337.268 million a year earlier.

 

Amiantit’s accumulated losses reached SAR 205.5 million representing 64.22 % of capital by the end of 2020.



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 197.45 79.83 (59.6 %)
Gross Income 23.35 (38.09) (263.1 %)
Operating Income 3.96 (60.42) (1627.8 %)
Net Income (37.39) (145.26) (288.5 %)
Average Shares 30.25 30.25 -
EPS (Riyals) (1.24) (4.80) (288.5 %)

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Share Price

Saudi Arabian Amiantit Co.
31.70
(1.20) (3.65 %)

Saudi Arabian Amiantit Co. (AMIANTIT)

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Financial Ratios
Current
Market Cap (M Riyal) 1,412.24
Enterprise Value (EV) (M) 1,599.94
Shares Outstanding ((M)) 44.55
EPS ( Riyal) (TTM) 10.23
Book Value (BV) ( Riyal) 21.07
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) 3.10
Price/book 1.50
Return on Average Assets (%) (TTM) 20.4
Return on Average Equity (%) (TTM) 79.8
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