Jabal Omar widens losses to SAR 917.8 mln in 9M 2020

10/12/2020 Argaam Exclusive

Jabal Omar Development Co. reported net losses of SAR 917.8 million for the first nine months of 2020, versus net losses of SAR 206 million in year-earlier period, driven by a steep decline in revenue over the pandemic lockdown.

 

The company also cited lower other income, higher credit loss allowances, and higher financial charges over the pandemic outbreak.



Financials (M)

Item 9m 2019 9m 2020 Change‬
Revenues 727.06 144.96 (80.1 %)
Gross Income 194.72 (248.11) (227.4 %)
Operating Income 40.27 (441.21) (1195.5 %)
Net Income (205.99) (917.78) (345.5 %)
Average Shares 929.40 929.40 -
EPS (Riyals) (0.22) (0.99) (345.5 %)

The real estate developer widened net losses by 78.3% YoY to SAR 236.9 million in Q3 2020, due to lower revenue, higher loss provisions, and an increase in other expenses. 

 

On a sequential basis, Jabal Omar shrank losses by 49.06%. 



Current Quarter Comparison (M)

Compared With The
Item Q3 2019 Q3 2020 Change‬
Revenues 244.33 1.93 (99.2 %)
Gross Income 94.29 (67.16) (171.2 %)
Operating Income 44.55 (143.06) (421.1 %)
Net Income (132.87) (236.95) (78.3 %)
Average Shares 929.40 929.40 -
EPS (Riyals) (0.14) (0.25) (78.3 %)

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Share Price

Jabal Omar Development Co.
20.86
0.26 1.26 %

Jabal Omar Development Co. (JABAL OMAR)

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Financial Ratios
Current
Market Cap (M Riyal) 24,615.26
Enterprise Value (EV) (M) 36,461.63
Shares Outstanding ((M)) 1,180.02
EPS ( Riyal) (TTM) (0.30)
Book Value (BV) ( Riyal) 10.89
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 1.96
Return on Average Assets (%) (TTM) (1.27 )
Return on Average Equity (%) (TTM) (2.76 )
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