AYYAN Investment Co. reported a net profit of SAR 4.3 million for 2021, a decline of 84% year-on-year (YoY) from SAR 27.3 million.
The earnings drop was driven by higher cost of sales, increased general and administrative expenses (G&As), as well as financing costs, and subdued other income.
The company also cited not recognizing the profit from the disposal of discontinued operations.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 255.32 | 269.56 | 5.6 % |
| Gross Income | 67.87 | 64.55 | (4.9 %) |
| Operating Income | 1.73 | (10.12) | (685.4 %) |
| Net Income | 27.29 | 4.29 | (84.3 %) |
| Average Shares | 80.79 | 82.68 | 2.3 % |
| EPS (Riyals) | 0.34 | 0.05 | (84.6 %) |
AYYAN widened Q4 2021 net loss to SAR 7.4 million, from SAR 1.76 million in Q4 2020.
Sequentially, the company swung to losses in Q4 2021, versus SAR 3.74 million profit in Q3 2021.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 64.62 | 60.80 | (5.9 %) |
| Gross Income | 16.45 | 6.50 | (60.5 %) |
| Operating Income | (1.32) | (11.29) | (758.5 %) |
| Net Income | (1.76) | (7.42) | (321.2 %) |
| Average Shares | 80.79 | 82.68 | 2.3 % |
| EPS (Riyals) | (0.02) | (0.09) | (311.5 %) |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 65.80 | 60.80 | (7.6 %) |
| Gross Income | 16.61 | 6.50 | (60.9 %) |
| Operating Income | 2.08 | (11.29) | (642.6 %) |
| Net Income | 3.74 | (7.42) | (298.8 %) |
| Average Shares | 82.68 | 82.68 | - |
| EPS (Riyals) | 0.05 | (0.09) | (298.8 %) |
Total shareholders’ equity, excluding minority interest, increased 7.7% YoY to SAR 808.659 million for 2021.
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