Amiantit widens 2020 net losses to SAR 389.4 mln

25/03/2021 Argaam Exclusive

View other reports

Saudi Arabian Amiantit Co. widened its net loss after Zakat and tax to SAR 389.4 million for 2020, from SAR 338.5 million a year earlier.

The company attributed the increased losses a 43.5% drop year-on-year (YoY) in sales, amid the COVID-19 pandemic outbreak. The company also allocated SAR 113.17 million provisions in 2020 and reported an increase in Zakat provisions by SAR 23.8 million.

Financials (M)

Item	2019	2020	Change‬
Revenues	780.41	441.02	(43.5 %)
Gross Income	(146.51)	(65.15)	55.5 %
Operating Income	(247.51)	(153.41)	38.0 %
Net Income	(338.48)	(389.35)	(15.0 %)
Average Shares	30.25	30.25	-
EPS (Riyals)	(11.19)	(12.87)	(15.0 %)

Amiantit’s net losses widened to SAR 145.3 million in Q4 2020 from SAR 37.39 million in prior-year period.

Shareholders’ equity, excluding minority interest, fell by 55.9% to SAR 148.579 million in 2020, from SAR 337.268 million a year earlier.

Amiantit’s accumulated losses reached SAR 205.5 million representing 64.22 % of capital by the end of 2020.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	197.45	79.83	(59.6 %)
Gross Income	23.35	(38.09)	(263.1 %)
Operating Income	3.96	(60.42)	(1627.8 %)
Net Income	(37.39)	(145.26)	(288.5 %)
Average Shares	30.25	30.25	-
EPS (Riyals)	(1.24)	(4.80)	(288.5 %)

Item	Q3 2020	Q4 2020	Change‬
Revenues	115.97	79.83	(31.2 %)
Gross Income	(6.24)	(38.09)	(510.7 %)
Operating Income	(26.97)	(60.42)	(124.1 %)
Net Income	(55.50)	(145.26)	(161.7 %)
Average Shares	30.25	30.25	-
EPS (Riyals)	(1.83)	(4.80)	(161.7 %)

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×