Maadaniyah narrows net loss to SAR 21 mln in 9M 2020

08/11/2020 Argaam Exclusive

View other reports

National Metal Manufacturing and Casting Co. (Maadaniyah) narrowed net loss after Zakat and tax to SAR 21 million for the first nine months of 2020, compared to SAR 51.4 million in the year-earlier period.

Financials (M)

Item	9m 2019	9m 2020	Change‬
Revenues	204.57	158.70	(22.4 %)
Gross Income	17.12	9.51	(44.4 %)
Operating Income	(5.25)	(15.61)	(197.6 %)
Net Income	(51.37)	(21.03)	59.1 %
Average Shares	29.95	29.95	-
EPS (Riyals)	(1.72)	(0.70)	59.1 %

The improvement was attributed to lower cost of some production inputs, decrease in financial charges and a decline in Zakat provision. The firm also noted the impairment loss of goodwill of SAR 40.1 million in the same period last year.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2019	Q3 2020	Change‬
Revenues	58.05	41.33	(28.8 %)
Gross Income	1.86	3.81	104.9 %
Operating Income	(4.69)	(3.90)	16.9 %
Net Income	(47.08)	(5.86)	87.6 %
Average Shares	29.95	29.95	-
EPS (Riyals)	(1.57)	(0.20)	87.6 %

Item	Q2 2020	Q3 2020	Change‬
Revenues	37.82	41.33	9.3 %
Gross Income	2.08	3.81	83.6 %
Operating Income	(5.98)	(3.90)	34.8 %
Net Income	(7.71)	(5.86)	24.0 %
Average Shares	29.95	29.95	-
EPS (Riyals)	(0.26)	(0.20)	24.0 %

The company’s net loss after Zakat and tax stood 5.9 million in Q3 2020, against a loss of SAR 47.08 million in the same period last year, due to decrease in cost of some production inputs, lower selling and distributing expenses, partial collection from provision for doubtful accounts and decrease in financial charges, along with an increase in other income. The company recorded impairment loss of goodwill of SAR 40.1 million in Q3 2019.

On a quarterly basis, the company narrowed its net losses in Q3 2020.

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.

×