Saudi Cable narrows net loss to SAR 55.1 mln in H1 2021

17/08/2021 Argaam Exclusive

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Saudi Cable Co. trimmed net loss after Zakat and tax to SAR 55.1 million in H1 2021, from a net loss of SAR 59.8 million in the year-earlier period, driven by lower expenses and increased profit share from associates.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	204.72	105.20	(48.6 %)
Gross Income	(24.04)	(38.22)	(59.0 %)
Operating Income	(63.09)	(68.34)	(8.3 %)
Net Income	(59.78)	(55.07)	7.9 %
Average Shares	6.67	6.67	-
EPS (Riyals)	(8.96)	(8.25)	7.9 %

The company’s Q2 2021 net loss widened to SAR 19.2 million in Q2 2021, from SAR 16.6 million in the year-earlier period, due to lower sales volumes.

On a sequential basis, Saudi Cable narrowed net loss by 46.5%.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2020	Q2 2021	Change‬
Revenues	145.18	41.35	(71.5 %)
Gross Income	(6.74)	(20.97)	(211.1 %)
Operating Income	(25.14)	(31.50)	(25.3 %)
Net Income	(16.58)	(19.19)	(15.7 %)
Average Shares	6.67	6.67	-
EPS (Riyals)	(2.48)	(2.88)	(15.7 %)

Item	Q1 2021	Q2 2021	Change‬
Revenues	63.86	41.35	(35.2 %)
Gross Income	(17.26)	(20.97)	(21.5 %)
Operating Income	(36.83)	(31.50)	14.5 %
Net Income	(35.88)	(19.19)	46.5 %
Average Shares	6.67	6.67	-
EPS (Riyals)	(5.38)	(2.88)	46.5 %

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