Financial Results : Zamil Industrial turns to SAR 51.9 mln loss in Q1 2022

Zamil Industrial turns to SAR 51.9 mln loss in Q1 2022

19/05/2022 Argaam Exclusive

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Zamil Industrial Investment Co. reported a net loss of SAR 51.9 million in Q1 2022, versus a net profit of SAR 5.2 million in the prior-year period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 949.18 896.80 (5.5 %)
Gross Income 138.03 104.21 (24.5 %)
Operating Income 18.38 (27.45) (249.3 %)
Net Income 5.20 (51.92) (1098.5 %)
Average Shares 60.00 60.00 -
EPS (Riyals) 0.09 (0.87) (1098.5 %)

The losses were attributed to lower sales in the AC and insulation segments, fall in gross profit and operating margins across all segments, and higher financial charges. In addition, the company reported an increase in credit loss and zakat provisions.

 

On a quarterly basis, net loss narrowed from SAR 172.5 million in Q4 2021.

 

Total shareholders’ equity, excluding minority interest, stood at SAR 905.951 million in Q1 2022, compared to SAR 1.138 billion in the year-earlier period.

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