Zamil Industrial’s net loss marginally widens to SAR 125.6 mln in 9M 2020

25/10/2020 Argaam Exclusive

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Zamil Industrial Investment Co. reported net loss after Zakat and tax of SAR 125.6 million for the first nine months of 2020, a marginal increase of 0.6% year-on-year (YoY), driven by weak sales across all business divisions, and lower operating margins of steel and insulation segments.

Zamil Industrial widened third-quarter net loss after Zakat and tax by 36.8% YoY to SAR 38.5 million, due to lower sales across all segments, lower gross profit margins of AC and steel business divisions, and lower operating margins of steel and AC segments.

Financials (M)

Item	9m 2019	9m 2020	Change‬
Revenues	3,163.98	2,424.47	(23.4 %)
Gross Income	373.93	305.18	(18.4 %)
Operating Income	(49.67)	(59.37)	(19.5 %)
Net Income	(124.84)	(125.63)	(0.6 %)
Average Shares	60.00	60.00	-
EPS (Riyals)	(2.08)	(2.09)	(0.6 %)

When compared to previous quarter, net loss shrank by 34%, backed by lower Zakat and income tax and higher gross profit margins of steel and insulation segments.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2019	Q3 2020	Change‬
Revenues	1,096.44	824.39	(24.8 %)
Gross Income	144.07	107.04	(25.7 %)
Operating Income	6.22	(13.78)	(321.7 %)
Net Income	(28.13)	(38.50)	(36.8 %)
Average Shares	60.00	60.00	-
EPS (Riyals)	(0.47)	(0.64)	(36.8 %)

Item	Q2 2020	Q3 2020	Change‬
Revenues	719.80	824.39	14.5 %
Gross Income	79.58	107.04	34.5 %
Operating Income	(36.46)	(13.78)	62.2 %
Net Income	(58.31)	(38.50)	34.0 %
Average Shares	60.00	60.00	-
EPS (Riyals)	(0.97)	(0.64)	34.0 %

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