Financial Results : Electrical Industries incurs SAR 40.2 mln net loss in FY 2019

Electrical Industries incurs SAR 40.2 mln net loss in FY 2019

19/03/2020 Argaam Exclusive

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Electrical Industries Co. (EIC) reported a net loss after Zakat and tax of SAR 40.2 million for the fiscal year 2019, from a net profit of SAR 7.1 million a year earlier, it said in a bourse filing on Thursday.



Financials (M)

Item 2018 2019 Change‬
Revenues 705.89 577.56 (18.2 %)
Gross Income 102.47 72.41 (29.3 %)
Operating Income 29.78 3.13 (89.5 %)
Net Income 7.11 (40.19) (665.1 %)
Average Shares 1,125.00 1,125.00 -
EPS (Halala) 0.63 (3.57) (665.1 %)

The loss is attributed to an 18% decrease in sales, SAR 21.7 million in inventory write-off losses, in addition to increase in financial expenses.

 

The company’s net loss widened to SAR 32.81 million in Q4 2019 from SAR 10.15 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q4 2018 Q4 2019 Change‬
Revenues 190.41 184.08 (3.3 %)
Gross Income 13.80 11.97 (13.3 %)
Operating Income 0.01 (6.59) (73333.3 %)
Net Income (10.14) (32.81) (223.4 %)
Average Shares 1,125.00 1,125.00 -
EPS (Halala) (0.90) (2.92) (223.4 %)

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