SAIC posts 9% profit drop to SAR 26.1 mln in 2020

16/03/2021 Argaam Exclusive

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Saudi Advanced Industries Co. (SAIC) reported a net profit after Zakat and tax of SAR 26.1 million for 2020, a 9% drop from SAR 28.6 million a year earlier on lower revenues.

The company also cited a decrease in the share of profit and dividends from its subsidiaries, and higher Zakat estimates.

Financials (M)

Item	2019	2020	Change‬
Revenues	44.39	36.78	(17.1 %)
Gross Income	44.39	36.78	(17.1 %)
Operating Income	34.58	29.07	(15.9 %)
Net Income	28.55	26.07	(8.7 %)
Average Shares	60.00	60.00	-
EPS (Riyals)	0.48	0.43	(8.7 %)

In Q4 2020, SAIC swung to a net profit of SAR 5.5 million, compared to a net loss of SAR 3.4 year period.-million in prior

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	4.68	9.75	108.3 %
Gross Income	4.68	9.75	108.3 %
Operating Income	1.61	7.66	375.2 %
Net Income	(3.45)	5.53	260.2 %
Average Shares	60.00	60.00	-
EPS (Riyals)	(0.06)	0.09	260.2 %

Item	Q3 2020	Q4 2020	Change‬
Revenues	9.59	9.75	1.6 %
Gross Income	9.59	9.75	1.6 %
Operating Income	7.78	7.66	(1.7 %)
Net Income	7.50	5.53	(26.3 %)
Average Shares	60.00	60.00	-
EPS (Riyals)	0.13	0.09	(26.3 %)

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

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