SIECO widens 2021 loss to SAR 14.9 mln; Q4 at SAR 8.2 mln

31/03/2022 Argaam Exclusive

View other reports

Saudi Industrial Export Co. (SIECO) deepened its net loss after Zakat and tax to SAR 14.9 million for 2021, compared to SAR 13.2 million a year earlier.

Financials (M)

Item	2020	2021	Change‬
Revenues	32.60	15.79	(51.6 %)
Gross Income	1.94	2.02	4.2 %
Operating Income	(12.57)	(14.78)	(17.6 %)
Net Income	(13.18)	(14.88)	(12.9 %)
Average Shares	163.05	163.05	-
EPS (Riyals)	(0.08)	(0.09)	(12.9 %)

SIECO attributed the increases loss to a decline in sales, due to the delay in capital injection as the capital increase application was no approved by the Capital Market Authority (CMA). It also cited higher general and administrative expenses, compared to 2020.

In Q4 2021, the company widened net losses after Zakat and tax to SAR 8.2 million, from SAR 5.44 million in the year-earlier period.

Compared to the previous quarter, the company widened losses from SAR 2.20 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Gross Income	(0.37)	0.53	243.6 %
Operating Income	(4.63)	(8.58)	(85.5 %)
Net Income	(5.44)	(8.23)	(51.3 %)
Average Shares	163.05	163.05	-
EPS (Riyals)	(0.03)	(0.05)	(51.3 %)

Item	Q3 2021	Q4 2021	Change‬
Revenues	3.39	0.33	(90.1 %)
Gross Income	1.05	0.53	(49.3 %)
Operating Income	(2.02)	(8.58)	(324.1 %)
Net Income	(2.20)	(8.23)	(274.9 %)
Average Shares	163.05	163.05	-
EPS (Riyals)	(0.01)	(0.05)	(274.9 %)

Shareholders' equity, after minority interest, reached SAR 12.96 million in 2021, down 53.28% from SAR 27.74 million a year earlier.

Accumulated losses reached SAR 52.83 million, representing 81.54% of the company's capital pre-reduction of SAR 64.8 million.

View more financial results

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.

×