Financial Results : Takween turns to SAR 8.9 mln loss in Q1 2022

Takween turns to SAR 8.9 mln loss in Q1 2022

12/05/2022 Argaam Exclusive

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Takween Advanced Industries Co. swung to a net loss after Zakat and tax of 8.9 million for Q1 2022, versus a net profit of SAR 2.2 million in a year-earlier period. 



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 186.31 249.65 34.0 %
Gross Income 11.63 20.68 77.7 %
Operating Income (12.66) (3.72) 70.6 %
Net Income 2.16 (8.98) (516.1 %)
Average Shares 57.86 57.86 -
EPS (Riyals) 0.04 (0.16) (516.1 %)

The company cited higher losses from investments in associates, despite lower cost of revenue and decreased selling and distribution expenses.  

 

 

On a sequential basis, the company narrowed losses by 71.4% from SAR 31.34 million.   

Total shareholders’ equity, excluding minority interest, inched up 0.86% year-on-year (YoY) to SAR 595.499 million in Q1 2022.  

 

Takween’s accumulated losses reached SAR 309.66 million, or 32.6% of total capital by the end of the three-month period.  

 

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