Zamil Industrial widens net losses to SAR 159.9 mln in 2020

18/03/2021 Argaam Exclusive

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Zamil Industrial Investment Co. reported a net loss after Zakat and tax of SAR 159.9 million for 2020, from a loss of SAR 138.8 million in 2019.

The company attributed higher losses to SAR 43.2 million impairment in certain capital assets and goodwill, SAR 24.2 million increase in the provisions for expected credit loss of financial assets, lower sales across all sectors, as well as lower operating margins in the steel and insulation sectors.

Financials (M)

Item	2019	2020	Change‬
Revenues	4,038.58	3,382.96	(16.2 %)
Gross Income	586.85	446.36	(23.9 %)
Operating Income	(27.27)	(61.38)	(125.1 %)
Net Income	(138.81)	(159.87)	(15.2 %)
Average Shares	60.00	60.00	-
EPS (Riyals)	(2.31)	(2.66)	(15.2 %)

Zamil Industrial widened fourth-quarter net loss after Zakat and tax to SAR 34.3 million year-on-year (YoY).

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	874.60	958.49	9.6 %
Gross Income	212.92	141.19	(33.7 %)
Operating Income	22.41	(2.01)	(109.0 %)
Net Income	(13.97)	(34.25)	(145.1 %)
Average Shares	60.00	60.00	-
EPS (Riyals)	(0.23)	(0.57)	(145.1 %)

Item	Q3 2020	Q4 2020	Change‬
Revenues	824.39	958.49	16.3 %
Gross Income	107.04	141.19	31.9 %
Operating Income	(13.78)	(2.01)	85.4 %
Net Income	(38.50)	(34.25)	11.0 %
Average Shares	60.00	60.00	-
EPS (Riyals)	(0.64)	(0.57)	11.0 %

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