Taiba turns to losses of SAR 14.8 mln in H1 2021

12/08/2021 Argaam Exclusive

Taiba Investment Co. reported a net loss after Zakat and tax of SAR 14.8 million in H1 2021, from a net profit after Zakat and tax of SAR 130.4 million in the prior-year period.

 

The loss was attributed to lower revenue and higher provision for the expected credit losses on trade receivables caused by the effects of the COVID-19.

 

In addition, H1 2020 included gains resulting from selling Taiba's full share in Fiber Glass Oasis Co. (FGOC), a reversal of the provision booked in 2018 in relation to the financial guarantee provided to the Saudi Industrial Development Fund (SIDF) to secure the loan facility to FGOC, and gains recognized from discontinued operations as a result of selling the entire share in one of its subsidiaries.



Financials (M)

Item 6m 2020 6m 2021 Change‬
Revenues 116.43 65.84 (43.5 %)
Gross Income 68.62 25.71 (62.5 %)
Operating Income 45.54 (18.91) (141.5 %)
Net Income 130.39 (14.79) (111.3 %)
Average Shares 160.46 160.46 -
EPS (Riyals) 0.81 (0.09) (111.3 %)

The company reported a net loss after Zakat and tax of SAR 12.9 million for Q2 2021, from a net profit after Zakat and tax of SAR 79.8 million in the same quarter last year.

 

On a sequential basis, the company widened its losses in Q2 2021 on higher provision for the expected credit losses on trade receivables.



Current Quarter Comparison (M)

Compared With The
Item Q2 2020 Q2 2021 Change‬
Revenues 31.42 32.16 2.3 %
Gross Income 14.98 10.56 (29.5 %)
Operating Income 3.07 (20.06) (753.0 %)
Net Income 79.82 (12.88) (116.1 %)
Average Shares 160.46 160.46 -
EPS (Riyals) 0.50 (0.08) (116.1 %)

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Share Price

Taiba Investments Co.
39.50
0.00 0.00 %

Taiba Investments Co. (TAIBA)

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Financial Ratios
Current
Market Cap (M Riyal) 10,288.17
Enterprise Value (EV) (M) 11,613.60
Shares Outstanding ((M)) 260.46
EPS ( Riyal) (TTM) 0.86
Book Value (BV) ( Riyal) 25.74
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 31.39
P/E (TTM) 46.02
Price/book 1.53
Return on Average Assets (%) (TTM) 3.1
Return on Average Equity (%) (TTM) 4.2
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