Maaden widens net loss by 68.7% to SAR 780.9 mln in 9M 2020

04/11/2020 Argaam Exclusive

View other reports

Saudi Arabian Mining Co. (Maaden) widened net loss after Zakat and tax by 68.7% year-on-year (YoY) to SAR 780.9 million for the first nine months of 2020, driven by lower average prices of all products, except for gold, as well as lower sales volumes of alumina and decreased income from time deposits.

Financials (M)

Item	9m 2019	9m 2020	Change‬
Revenues	12,840.53	13,030.73	1.5 %
Gross Income	1,890.32	1,244.16	(34.2 %)
Operating Income	713.86	(33.13)	(104.6 %)
Net Income	(462.92)	(780.93)	(68.7 %)
Average Shares	3,552.02	3,691.77	3.9 %
EPS (Riyals)	(0.13)	(0.21)	(62.3 %)

Q3 2020 net profit after Zakat and tax stood at SAR 6.5 million, versus a net loss of SAR 92.04 million in year-earlier period, backed by higher average prices of gold and ammonia, as well as increased sales volumes of all products except for alumina and gold, in addition to higher profit share from the company’s joint ventures.

On a sequential basis, Maaden turned to profit in Q3 2020, versus a net loss of SAR 434.1 million in Q2 2020.

Shareholders’ equity, after minority interest, reached SAR 29.7 million during the nine-month period, a rise of 6% YoY.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2019	Q3 2020	Change‬
Revenues	4,298.68	4,659.15	8.4 %
Gross Income	721.28	668.41	(7.3 %)
Operating Income	269.36	249.53	(7.4 %)
Net Income	(92.04)	6.47	107.0 %
Average Shares	3,552.02	3,691.77	3.9 %
EPS (Riyals)	(0.03)	0.00	106.8 %

Item	Q2 2020	Q3 2020	Change‬
Revenues	4,016.41	4,659.15	16.0 %
Gross Income	292.99	668.41	128.1 %
Operating Income	(163.37)	249.53	252.7 %
Net Income	(434.15)	6.47	101.5 %
Average Shares	3,691.77	3,691.77	-
EPS (Riyals)	(0.12)	0.00	101.5 %

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×