Thimar cuts 2020 net loss to SAR 11.7 mln; Q4 at SAR 2.7 mln

03/07/2022 Argaam Exclusive

View other reports

Thimar Development Holding Co. narrowed net losses by 78.7% to SAR 11.7 million in 2020 from SAR 56.7 million a year earlier.

Financials (M)

Item	2019	2020	Change‬
Revenues	41.89	3.67	(91.2 %)
Gross Income	0.44	(3.56)	(900.9 %)
Operating Income	(37.48)	(12.33)	67.1 %
Net Income	(56.74)	(11.68)	79.4 %
Average Shares	3.87	3.87	-
EPS (Riyals)	(14.67)	(3.02)	79.4 %

Losses decreased as the company allocated a provision for expected credit losses of SAR 23 million. Thimar excluded SAR 15 million losses from projects in progress. Moreover, the company’s loss share from associates stood at SAR 3 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	0.81	1.30	60.3 %
Gross Income	0.05	(3.62)	(7795.7 %)
Operating Income	(10.24)	(2.79)	72.8 %
Net Income	(11.26)	(2.67)	76.3 %
Average Shares	3.87	3.87	-
EPS (Riyals)	(2.91)	(0.69)	76.3 %

Item	Q3 2020	Q4 2020	Change‬
Revenues	1.23	1.30	5.9 %
Gross Income	0.01	(3.62)	(25935.7 %)
Operating Income	(5.56)	(2.79)	49.9 %
Net Income	(5.32)	(2.67)	49.8 %
Average Shares	3.87	3.87	-
EPS (Riyals)	(1.38)	(0.69)	49.8 %

In Q4 2020, Thimar reduced net losses to SAR 2.7 million from SAR 11.26 million in the year-earlier period.

Shareholders’ equity, after minority interest, decreased by 24.3% to SAR 36.388 million as of Dec. 31, 2020, from SAR 48.068 million a year earlier.

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.

×