SIDC widens FY19 net losses to SAR 39 mln

23/04/2020 Argaam Exclusive

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Saudi Industrial Development Co. (SIDC) widened net losses after Zakat and tax by 30% year-on-year (YoY) to SAR 39.2 million for the fiscal year 2019. The company was hit by operating losses and higher operating expenses.

Financials (M)

Item	2018	2019	Change‬
Revenues	190.14	191.40	0.7 %
Gross Income	28.73	33.19	15.5 %
Operating Income	(29.31)	(25.28)	13.7 %
Net Income	(30.08)	(39.20)	(30.3 %)
Average Shares	13.50	13.50	-
EPS (Riyals)	(2.23)	(2.90)	(30.3 %)

In Q4 2019, SIDC widened net losses after Zakat and tax to SAR 36 million, compared to net losses of SAR 20 million a year earlier.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	45.59	41.47	(9.1 %)
Gross Income	3.43	6.05	76.6 %
Operating Income	(17.31)	(16.76)	3.2 %
Net Income	(20.23)	(36.23)	(79.1 %)
Average Shares	13.50	13.50	-
EPS (Riyals)	(1.50)	(2.68)	(79.1 %)

Item	Q3 2019	Q4 2019	Change‬
Revenues	45.95	41.47	(9.8 %)
Gross Income	8.83	6.05	(31.5 %)
Operating Income	(2.27)	(16.76)	(638.0 %)
Net Income	(4.31)	(36.23)	(741.3 %)
Average Shares	13.50	13.50	-
EPS (Riyals)	(0.32)	(2.68)	(741.3 %)

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