Takween widens FY19 losses by more than twofold

23/03/2020 Argaam Exclusive

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Takween Advanced Industries Co. widened net loss after Zakat and tax by more than two-fold year-on-year (YoY) to SAR 96.7 million for the fiscal year 2019.

These losses were attributed to lower sales, higher general and administrative expenses (G&As) and higher financial charges.

Financials (M)

Item	2018	2019	Change‬
Revenues	1,343.76	923.78	(31.3 %)
Gross Income	128.38	55.51	(56.8 %)
Operating Income	4.81	(41.19)	(956.0 %)
Net Income	(39.73)	(96.72)	(143.4 %)
Average Shares	57.86	57.86	-
EPS (Riyals)	(0.69)	(1.67)	(143.4 %)

Q4 2019 net losses stood at SAR 42.4 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	290.72	252.16	(13.3 %)
Gross Income	7.86	(8.54)	(208.6 %)
Operating Income	(20.78)	(34.37)	(65.4 %)
Net Income	(42.23)	(42.37)	(0.3 %)
Average Shares	57.86	57.86	-
EPS (Riyals)	(0.73)	(0.73)	(0.3 %)

Item	Q3 2019	Q4 2019	Change‬
Revenues	314.67	252.16	(19.9 %)
Gross Income	16.75	(8.54)	(151.0 %)
Operating Income	(15.20)	(34.37)	(126.1 %)
Net Income	(28.77)	(42.37)	(47.3 %)
Average Shares	57.86	57.86	-
EPS (Riyals)	(0.50)	(0.73)	(47.3 %)

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