SIDC narrows 2020 net losses to SAR 3.2 mln

31/03/2021 Argaam Exclusive

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Saudi Industrial Development Co. (SIDC) narrowed its net loss after Zakat and tax to SAR 3.2 million in 2020 from SAR 39.2 million in 2019.

Financials (M)

Item	2019	2020	Change‬
Revenues	191.40	164.60	(14.0 %)
Gross Income	33.19	35.65	7.4 %
Operating Income	(25.28)	(10.86)	57.0 %
Net Income	(39.20)	(3.25)	91.7 %
Average Shares	13.50	13.50	-
EPS (Riyals)	(2.90)	(0.24)	91.7 %

The company cited lower operating losses due to the decrease in production costs and operating expenses, for the drop in loss.

In Q4 2020, SIDC further narrowed its net loss after Zakat and tax to SAR 2.7 million, compared to SAR 36.2 million in the same period a year earlier.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	41.47	43.06	3.8 %
Gross Income	6.05	8.48	40.0 %
Operating Income	(16.76)	(7.35)	56.2 %
Net Income	(36.23)	(0.54)	98.5 %
Average Shares	13.50	13.50	-
EPS (Riyals)	(2.68)	(0.04)	98.5 %

Item	Q3 2020	Q4 2020	Change‬
Revenues	39.67	43.06	8.5 %
Gross Income	8.24	8.48	2.9 %
Operating Income	(2.21)	(7.35)	(232.0 %)
Net Income	(1.36)	(0.54)	60.5 %
Average Shares	13.50	13.50	-
EPS (Riyals)	(0.10)	(0.04)	60.5 %

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