Al Abdullatif widens loss to SAR 64.1 mln in 9M 2023; Q3 at SAR 24.3 mln

09/11/2023 Argaam Exclusive

Al Abdullatif Industrial Investment Co. widened net losses to SAR 64.1 million 9M 2023 from SAR 31.1 million a year earlier, due to a sharp decrease in sales and an increase in the cost of sales and financing costs.



Financials (M)

Item 9m 2022 9m 2023 Change‬
Revenues 492.48 381.49 (22.5 %)
Gross Income 14.27 (18.91) (232.5 %)
Operating Income (18.63) (44.37) (138.2 %)
Net Income (31.13) (64.06) (105.8 %)
Average Shares 81.25 81.25 -
EPS (Riyals) (0.38) (0.79) (105.8 %)

Net losses deepened by 56% year-on-year (YoY) to SAR 24.3 million in Q3 2023, due to lower sales value and other income as finance costs increased.

 

Compared to Q2 2023, net losses expanded by 23% from SAR 19.76 million.



Current Quarter Comparison (M)

Compared With The
Item Q3 2022 Q3 2023 Change‬
Revenues 142.60 117.69 (17.5 %)
Gross Income 0.85 (9.45) (1210.7 %)
Operating Income (8.28) (17.50) (111.3 %)
Net Income (15.57) (24.30) (56.0 %)
Average Shares 81.25 81.25 -
EPS (Riyals) (0.19) (0.30) (56.0 %)

Shareholders’ equity, no minority interest, reached SAR 1.21 billion as of Sept. 30, 2023, down from SAR 1.30 billion a year earlier.

 

Accumulated losses reached SAR 91.34 million by the end of the nine-month period, representing 11.24% of the company’s capital.

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Share Price

ARTEX Industrial Investment Co.
15.50
(0.02) (0.13 %)

ARTEX Industrial Investment Co. (ARTEX)

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Financial Ratios
Current
Market Cap (M Riyal) 1,259.38
Enterprise Value (EV) (M) 1,444.49
Shares Outstanding ((M)) 81.25
EPS ( Riyal) (TTM) (0.29)
Book Value (BV) ( Riyal) 14.63
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 1.06
Return on Average Assets (%) (TTM) (1.48 )
Return on Average Equity (%) (TTM) (1.92 )
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