AYYAN Investment turns to SAR 15.1 mln loss in 9M 2022, Q3 at SAR 16.8 mln

06/11/2022 Argaam Exclusive

AYYAN Investment Co. swung to a net loss after Zakat and tax of SAR 15.1 million in the first nine months of 2022, against a net profit of SAR 11.7 million in the prior-year period.



Financials (M)

Item 9m 2021 9m 2022 Change‬
Revenues 208.77 209.59 0.4 %
Gross Income 58.06 45.93 (20.9 %)
Operating Income 1.17 (26.84) (2400.2 %)
Net Income 11.72 (15.06) (228.5 %)
Average Shares 82.68 88.35 6.9 %
EPS (Riyals) 0.14 (0.17) (220.3 %)

The company reported an increase in the cost of goods sold to total sales. It also incurred higher general and administrative (G&A) expenses, along with increased selling and distribution expenses.

 

AYYAN reported unrealized losses from investments at fair value through profit or loss during the current period, compared to realized profits from those investments during the first nine months of 2021.



Current Quarter Comparison (M)

Compared With The
Item Q3 2021 Q3 2022 Change‬
Revenues 65.80 68.13 3.5 %
Gross Income 16.61 13.84 (16.6 %)
Operating Income 2.08 (19.85) (1054.2 %)
Net Income 3.74 (16.75) (548.4 %)
Average Shares 82.68 88.35 6.9 %
EPS (Riyals) 0.05 (0.19) (519.6 %)

The company turned to a net loss of SAR 16.8 million in Q3 2022, versus a net profit of SAR 3.74 million a year earlier hit by higher cost of goods sold to total sales and G&A.

 

Compared to Q2 2022, net profit fell 42.8% from SAR 11.37 million.

Total shareholders’ equity, excluding minority interest, stood at SAR 793.60 million as of Sept. 30, 2022, compared to SAR 762.52 million in the year-earlier period.

 

Accumulated losses came in at SAR 13.271 million by the end of the nine-month period, representing 1.65% of AYYAN’s capital.

 

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Share Price

AYYAN Investment Co.
14.06
(0.22) (1.54 %)

AYYAN Investment Co. (AYYAN)

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Financial Ratios
Current
Market Cap (M Riyal) 1,415.00
Enterprise Value (EV) (M) 2,158.81
Shares Outstanding ((M)) 100.64
EPS ( Riyal) (TTM) (2.35)
Book Value (BV) ( Riyal) 6.17
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 2.55
Return on Average Assets (%) (TTM) (12.78 )
Return on Average Equity (%) (TTM) (36.76 )
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