Maadaniyah trims 2021 net loss to SAR 29.1 mln; Q4 at SAR 8.4 mln

30/03/2022 Argaam Exclusive

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National Metal Manufacturing and Casting Co. (Maadaniyah) narrowed its net loss after Zakat and tax to SAR 29.1 million for 2021, from SAR 40.8 million a year earlier.

Financials (M)

Item	2020	2021	Change‬
Revenues	205.96	227.02	10.2 %
Gross Income	4.43	13.23	198.4 %
Operating Income	(29.87)	(22.80)	23.7 %
Net Income	(40.82)	(29.13)	28.6 %
Average Shares	29.95	35.40	18.2 %
EPS (Riyals)	(1.36)	(0.82)	39.6 %

Net losses narrowed on lower general and administrative expenses, finance charges, and Zakat provisions.

In Q4 2021, net loss narrowed to SAR 8.4 million, from SAR 19.8 million.

When compared to the previous quarter, net loss widened from SAR 6.2 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	47.26	61.51	30.1 %
Gross Income	(5.08)	1.11	121.9 %
Operating Income	(14.26)	(6.91)	51.5 %
Net Income	(19.78)	(8.43)	57.4 %
Average Shares	29.95	35.40	18.2 %
EPS (Riyals)	(0.66)	(0.24)	64.0 %

Item	Q3 2021	Q4 2021	Change‬
Revenues	52.19	61.51	17.9 %
Gross Income	3.38	1.11	(67.1 %)
Operating Income	(4.43)	(6.91)	(55.9 %)
Net Income	(6.24)	(8.43)	(35.2 %)
Average Shares	29.95	35.40	18.2 %
EPS (Riyals)	(0.21)	(0.24)	(14.3 %)

Shareholders’ equity, after minority interest, rose to SAR 351.8 million as of Sept. 30, 2021, from SAR 268.14 million a year earlier.

Accumulated losses reached SAR 29.38 million, or 8.3% of the company’s capital in 2021.

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