Taiba turns to SAR 117.3 mln losses in 2021; Q4 losses hit SAR 64.1 mln

02/03/2022 Argaam Exclusive

View other reports

Taiba Investments Co. turned to a net loss after Zakat and tax of SAR 117.3 million in 2021 from a net profit of SAR 98.8 million in the year-ago period.

Financials (M)

Item	2020	2021	Change‬
Revenues	220.95	129.09	(41.6 %)
Gross Income	123.24	43.72	(64.5 %)
Operating Income	77.46	(76.77)	(199.1 %)
Net Income	98.77	(117.30)	(218.8 %)
Average Shares	160.46	160.46	-
EPS (Riyals)	0.62	(0.73)	(218.8 %)

The company attributed the losses to lower revenues from hotels and commercial centers in 2021, in addition to provisions recorded in other operating expenses on trade receivables from commercial centers' tenants, due to the negative impact of the pandemic.

Furthermore, 2021 witnessed higher administrative expenses due to the increase in the consulting expenses, along with higher Zakat expenses as a result of the sale of part of the investments in equity shares.

The company widened its net loss after Zakat and tax to SAR 64.1 million in Q4 2021, from SAR 8.1 million in year-earlier period.

On a sequential basis, the company increased in losses from SAR 38.3 million in Q3 2021.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	43.14	33.33	(22.7 %)
Gross Income	17.88	7.56	(57.7 %)
Operating Income	5.07	(27.67)	(645.8 %)
Net Income	(8.13)	(64.12)	(688.3 %)
Average Shares	160.46	160.46	-
EPS (Riyals)	(0.05)	(0.40)	(688.3 %)

Item	Q3 2021	Q4 2021	Change‬
Revenues	29.93	33.33	11.4 %
Gross Income	10.45	7.56	(27.7 %)
Operating Income	(30.19)	(27.67)	8.4 %
Net Income	(38.38)	(64.12)	(67.1 %)
Average Shares	160.46	160.46	-
EPS (Riyals)	(0.24)	(0.40)	(67.1 %)

Shareholders' equity, excluding minority interests, at the end of the period amounted to SAR 3.605 billion, compared to SAR 3.655 billion at the end of the same period of the previous year.

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.

×