Saudi Cable widens H1 2022 loss to SAR 81.6 mln; Q2 loss at SAR 44.5 mln

25/08/2022 Argaam Exclusive

Saudi Cable Co. deepened its H1 2022 net loss to SAR 81.6 million, compared to SAR 55.1 million in the prior-year period.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 105.20 60.38 (42.6 %)
Gross Income (38.22) (45.05) (17.9 %)
Operating Income (68.34) (78.13) (14.3 %)
Net Income (55.07) (81.64) (48.3 %)
Average Shares 6.67 6.67 -
EPS (Riyals) (8.25) (12.24) (48.3 %)

The losses widened due to a decline in output, higher expenses, and lower profit from subsidiaries and other revenue.

 

In Q2 2022, the company reported a net loss of SAR 44.5 million, from SAR 19.2 million a year earlier.

 

Saudi Cable widened losses in Q2 2022 from a loss of SAR 37.2 million in Q1 2022.



Current Quarter Comparison (M)

Compared With The
Item Q2 2021 Q2 2022 Change‬
Revenues 41.35 25.03 (39.5 %)
Gross Income (20.97) (18.31) 12.7 %
Operating Income (31.50) (36.06) (14.5 %)
Net Income (19.19) (44.49) (131.9 %)
Average Shares 6.67 6.67 -
EPS (Riyals) (2.88) (6.67) (131.9 %)

Shareholders’ equity, after minority interest, reached SAR -21.584 million by the end of the six-month period, from SAR 222.724 million a year earlier.

 

Accumulated losses stood at SAR 240.071 million, or 91.52% of the company’s capital, as of June 30, 2022.

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Share Price

Saudi Cable Co.
99.60
4.60 4.84 %

Saudi Cable Co. (SAUDI CABLE)

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Financial Ratios
Current
Market Cap (M Riyal) 664.53
Enterprise Value (EV) (M) 764.05
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) 38.06
P/E (TTM) 14.66
Price/book (1.55)
Return on Average Assets (%) (TTM) 6.7
Return on Average Equity (%) (TTM) -
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