Sinad Holding widens H1 2022 net loss to SAR 10 mln; Q2 loss at SAR 20.3 mln

22/08/2022 Argaam Exclusive

Sinad Holding Co. widened its net loss after Zakat and tax to SAR 10 million in H1 2022, compared to SAR 2.2 million in the prior-year period.

 

This was triggered by increased selling and distribution expenses, higher general and administrative expenses (G&As), lower other operational income, and higher Zakat expenses.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 829.60 887.19 6.9 %
Gross Income 240.08 258.76 7.8 %
Operating Income 27.35 12.86 (53.0 %)
Net Income (2.17) (10.04) (361.6 %)
Average Shares 126.39 126.39 0.0 %
EPS (Riyals) (0.02) (0.08) (361.6 %)

Sinad incurred a net loss after Zakat and tax of SAR 20.3 million in Q2 2022, compared to a net loss of SAR 800,000 in a year-earlier period, due to operational losses on lower gross profit and higher selling, distribution expenses, as well as G&As.

 

On a sequential basis, the company swung to losses in Q2 2022, versus a net profit of SAR 10.24 million.



Current Quarter Comparison (M)

Compared With The
Item Q2 2021 Q2 2022 Change‬
Revenues 403.40 414.21 2.7 %
Gross Income 114.47 125.32 9.5 %
Operating Income 12.43 (2.35) (118.9 %)
Net Income (0.79) (20.27) (2,482.2 %)
Average Shares 126.39 126.39 0.0 %
EPS (Riyals) (0.01) (0.16) (2,482.3 %)

Total shareholders’ equity, excluding minority interest, stood at SAR 1.290 billion by the end of H1 2022, compared to SAR 1.505 billion in the year-earlier period.

 

Accumulated losses reached SAR 50.2 million, or 3.97% of capital, as of June 30, 2022.

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Share Price

Sinad Holding Co.
14.00
0.24 1.74 %

Sinad Holding Co. (SINAD HOLDING)

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Financial Ratios
Current
Market Cap (M Riyal) 1,769.44
Enterprise Value (EV) (M) 2,588.05
Shares Outstanding ((M)) 126.39
EPS ( Riyal) (TTM) (0.47)
Book Value (BV) ( Riyal) 8.48
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 1.65
Return on Average Assets (%) (TTM) (2.22 )
Return on Average Equity (%) (TTM) (5.43 )
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