Financial Results : Zamil’s net loss declines 38.9% to SAR 28.8 mln in Q1 2020

Zamil’s net loss declines 38.9% to SAR 28.8 mln in Q1 2020

21/05/2020 Argaam Exclusive

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Zamil Industrial Investment Co. reported  net loss of SAR 28.8 million for the first quarter of 2020, a 38.9% year-on-year (YoY) decline, compared to SAR 47.2 million in the same period last year.

 

The loss reduction was attributed to better gross profit margin in the air conditioning sector, better operating margin in the steel sector, higher profit from associated companies and other income, decrease in financial charges, and lower Zakat and income tax.

When compared to the previous quarter, the company’s net losses widened due to reduction in sales and lower gross profit margin across all sectors, including lower operating margin in the AC and steel sectors, and lower other income.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 1,020.98 880.28 (13.8 %)
Gross Income 127.76 118.55 (7.2 %)
Operating Income (6.00) (9.13) (52.1 %)
Net Income (47.15) (28.83) 38.9 %
Average Shares 60.00 60.00 -
EPS (Riyals) (0.79) (0.48) 38.9 %

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