Alhokair Group trims 2021 net loss to SAR 171.6 mln; Q4 at SAR 47.4 mln

29/03/2022 Argaam Exclusive

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Abdulmohsen Alhokair Group for Tourism and Development cut its net loss after Zakat and tax by 14% to SAR 171.6 million in 2021, from SAR 200.2 million a year earlier.

Financials (M)

Item	2020	2021	Change‬
Revenues	613.11	708.42	15.5 %
Gross Income	45.96	103.77	125.8 %
Operating Income	(159.34)	(84.15)	47.2 %
Net Income	(200.16)	(173.72)	13.2 %
Average Shares	226.54	315.00	39.1 %
EPS (Riyals)	(0.88)	(0.55)	37.6 %

The decline in losses was attributed to a 15.5% year-on-year (YoY) rise in revenue to SAR 708.42 million in 2021. Operational losses dropped 46% YoY to SAR 86.09 million.

The group narrowed Q4 2021 net loss after Zakat and tax to SAR 47.7 million, from SAR 95 million in the prior-year period.

In the previous quarter, the company posted a net profit of SAR 6.18 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	149.24	193.76	29.8 %
Gross Income	7.76	33.30	329.4 %
Operating Income	(50.35)	(7.80)	84.5 %
Net Income	(95.01)	(49.84)	47.5 %
Average Shares	226.54	315.00	39.1 %
EPS (Riyals)	(0.42)	(0.16)	62.3 %

Item	Q3 2021	Q4 2021	Change‬
Revenues	191.01	193.76	1.4 %
Gross Income	40.59	33.30	(18.0 %)
Operating Income	(14.49)	(7.80)	46.2 %
Net Income	6.18	(49.84)	(906.3 %)
Average Shares	315.00	315.00	-
EPS (Riyals)	0.02	(0.16)	(906.3 %)

Shareholders’ equity, after minority interest, jumped 52.7%% to SAR 377.88 million in 2021, from SAR 247.42 million in 2020.

Accumulated losses reached SAR 650 million as of Dec. 31, 2021, representing 41.9% of total capital

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