SISCO 9M 2022 profit slumps 69% to SAR 18.3 mln; Q3 at SAR 14.4 mln

03/11/2022 Argaam Exclusive

View other reports

Saudi Industrial Services Co. (SISCO) posted a 69% slump in net profit after Zakat and tax to SAR 18.3 million for the first nine months of 2022, from SAR 58.7 million a year earlier.

Financials (M)

Item	9m 2021	9m 2022	Change‬
Revenues	733.72	717.01	(2.3 %)
Gross Income	355.46	295.71	(16.8 %)
Operating Income	232.45	159.61	(31.3 %)
Net Income	58.73	18.29	(68.9 %)
Average Shares	81.60	81.60	-
EPS (Riyals)	0.72	0.22	(68.9 %)

The drop was mainly attributed to a decline in the ports and water segments’ revenues during the first half of 2022. This came despite an increase in income from associates by 18.3% compared to 9M 2021.

In Q3 2022, net profit after Zakat and tax skyrocketed to SAR 14.4 million, from SAR 3.90 million in Q3 2021, driven by gross profit, which rose to SAR 105.8 million from SAR 97 million in Q3 2021, due to better performance of the water and logistics segments on improved sales mix and lower cost of sales.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2021	Q3 2022	Change‬
Revenues	223.27	261.02	16.9 %
Gross Income	97.02	105.81	9.1 %
Operating Income	54.11	60.44	11.7 %
Net Income	3.98	14.38	260.9 %
Average Shares	81.60	81.60	-
EPS (Riyals)	0.05	0.18	260.9 %

Item	Q2 2022	Q3 2022	Change‬
Revenues	243.43	261.02	7.2 %
Gross Income	99.69	105.81	6.1 %
Operating Income	52.72	60.44	14.7 %
Net Income	3.13	14.38	358.9 %
Average Shares	81.60	81.60	-
EPS (Riyals)	0.04	0.18	358.9 %

Compared to the previous quarter, Q3 net profit surged from SAR 3.13 million.

Shareholders’ equity, after minority interest, declined to SAR 1.440 billion as of Sept. 30, 2022, from SAR 1.518 billion in the year-ago period.

View more financial results

Kindly, you can view the full report by subscribing to the

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

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×