SIIG 2020 net profit tumbles 85% to SAR 92 mln

31/01/2021 Argaam Exclusive

Saudi Industrial Investment Group (SIIG) reported net profit after Zakat and tax of SAR 92 million for 2020, plunging 85% year-on-year (YoY), due to losses of SAR 15 million from jointly managed projects.



Financials (M)

Item 2019 2020 Change‬
Revenues 7,655.53 - -
Gross Income 1,882.86 - -
Operating Income 1,266.64 (52.30) (104.1 %)
Net Income 606.27 91.65 (84.9 %)
Average Shares 450.00 450.00 -
EPS (Riyals) 1.35 0.20 (84.9 %)

The company also attributed lower profit share from National Petrochemical Co. (Petrochem) of SAR 114 million, compared to SAR 336 million in year-earlier period, for the earnings decline.



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 1,869.64 - -
Gross Income 414.40 - -
Operating Income 253.08 (24.32) (109.6 %)
Net Income 62.68 235.02 274.9 %
Average Shares 450.00 450.00 -
EPS (Riyals) 0.14 0.52 274.9 %

Q4 2020 net profit after Zakat and tax increased by more than three-fold YoY to SAR 235 million, driven by higher profit share from associates, and lower selling and distribution expenses.

 

On a sequential basis, Q4 2020 net profit more than doubled.

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Share Price

Saudi Industrial Investment Group
16.68
(0.46) (2.68 %)

Saudi Industrial Investment Group (SIIG)

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Financial Ratios
Current
Market Cap (M Riyal) 12,590.06
Enterprise Value (EV) (M) 12,135.12
Shares Outstanding ((M)) 754.80
EPS ( Riyal) (TTM) 0.27
Book Value (BV) ( Riyal) 13.03
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 1.28
Return on Average Assets (%) (TTM) 1.9
Return on Average Equity (%) (TTM) 2.0
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