Emaar The Economic City deepened H1 2022 net loss to SAR 408 million, compared to SAR 372 million in the prior-year period.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Revenues | 171.66 | 164.92 | (3.9 %) |
| Gross Income | (36.76) | (87.24) | (137.3 %) |
| Operating Income | (308.16) | (330.34) | (7.2 %) |
| Net Income | (372.07) | (416.83) | (12.0 %) |
| Average Shares | 991.67 | 1,133.33 | 14.3 % |
| EPS (Riyals) | (0.38) | (0.37) | 2.0 % |
The losses widened due to higher provisions of SAR 46 million during the period.
In Q2 2022, the company reported a net loss of SAR 247 million, from SAR 178 million a year earlier. This was due to a decrease in order intake, lower other income, higher general and administrative expenses, variance in zakat charges, and higher marketing cost.
Emaar EC widened losses in Q2 2022, from SAR 160 million in Q1 2022.
| Item | Q2 2021 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 88.07 | 78.30 | (11.1 %) |
| Gross Income | (19.69) | (50.76) | (157.8 %) |
| Operating Income | (149.58) | (196.91) | (31.6 %) |
| Net Income | (177.59) | (250.82) | (41.2 %) |
| Average Shares | 991.67 | 1,133.33 | 14.3 % |
| EPS (Riyals) | (0.18) | (0.22) | (23.6 %) |
| Item | Q1 2022 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 86.62 | 78.30 | (9.6 %) |
| Gross Income | (36.48) | (50.76) | (39.2 %) |
| Operating Income | (133.43) | (196.91) | (47.6 %) |
| Net Income | (166.01) | (250.82) | (51.1 %) |
| Average Shares | 1,133.33 | 1,133.33 | - |
| EPS (Riyals) | (0.15) | (0.22) | (51.1 %) |
Shareholders’ equity, after minority interest, reached SAR 7.471 billion by the end of the six-month period, down from SAR 5.485 billion a year earlier.
Accumulated losses stood at SAR 3.873 billion, or 34.18% of the company’s capital as of June 30, 2022.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}