Saudi Industrial Development Co. (SIDC) widened its net loss after Zakat and tax to SAR 38.8 million in 2022, from SAR 24.5 million in the year before.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 163.08 | 155.35 | (4.7 %) |
| Gross Income | 26.81 | 22.06 | (17.7 %) |
| Operating Income | (22.71) | (41.86) | (84.4 %) |
| Net Income | (24.50) | (38.77) | (58.3 %) |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.61) | (0.97) | (58.3 %) |
The YoY uptick in losses was attributed to increased operating expenses and production costs, amid lower non-operating revenues and a pullback in machinery and equipment.
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 38.20 | 34.13 | (10.7 %) |
| Gross Income | 7.44 | 4.10 | (44.9 %) |
| Operating Income | (8.97) | (20.32) | (126.6 %) |
| Net Income | (12.69) | (19.73) | (55.5 %) |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.32) | (0.49) | (55.5 %) |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 38.40 | 34.13 | (11.1 %) |
| Gross Income | 5.73 | 4.10 | (28.4 %) |
| Operating Income | (8.49) | (20.32) | (139.4 %) |
| Net Income | (7.66) | (19.73) | (157.7 %) |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.19) | (0.49) | (157.7 %) |
Total shareholders’ equity, excluding minority interest, reached SAR 166.91 million by the end of the year, compared to SAR 204.01 million in 2021.
Accumulated losses for the current period amounted to SAR 37.1 million, against SAR 6.4 million in the prior-year period.
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