Zamil widens 2022 net loss to SAR 178.1 mln; Q4 at SAR 99.6 mln

30/03/2023 Argaam Exclusive

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Zamil Industrial Investment Co. widened 2022 net loss to SAR 178.1 million, compared to SAR 159.4 million in the year-earlier period, on higher financial charges, increased tax and Zakat, and lower profit from associates.

Financials (M)

Item	2021	2022	Change‬
Revenues	3,523.82	3,926.19	11.4 %
Gross Income	487.43	551.43	13.1 %
Operating Income	(110.42)	(41.45)	62.5 %
Net Income	(159.42)	(178.07)	(11.7 %)
Average Shares	60.00	60.00	-
EPS (Riyals)	(2.66)	(2.97)	(11.7 %)

Zamil also cited the allocation of expected credit loss provisions at SAR 72.3 million during the period.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2021	Q4 2022	Change‬
Revenues	900.20	1,060.83	17.8 %
Gross Income	81.53	173.68	113.0 %
Operating Income	(157.88)	(45.12)	71.4 %
Net Income	(172.54)	(99.59)	42.3 %
Average Shares	60.00	60.00	-
EPS (Riyals)	(2.88)	(1.66)	42.3 %

Item	Q3 2022	Q4 2022	Change‬
Revenues	1,011.36	1,060.83	4.9 %
Gross Income	155.70	173.68	11.5 %
Operating Income	33.55	(45.12)	(234.5 %)
Net Income	2.44	(99.59)	(4189.9 %)
Average Shares	60.00	60.00	-
EPS (Riyals)	0.04	(1.66)	(4189.9 %)

Zamil incurred SAR 99.6 mln net loss in Q4 2022, down from a loss of SAR 172.54 million in Q4 2021.

The company posted a net profit of SAR 2.44 million in Q3 2022.

Total shareholders’ equity, excluding minority interest, stood at SAR 770.88 million as of Dec. 31, 2022, compared to SAR 966.72 million a year earlier.

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