Al Abdullatif Industrial trims net loss to SAR 10 mln in 9M 2021

08/11/2021 Argaam Exclusive

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Al Abdullatif Industrial Investment Co. trimmed net loss after Zakat and tax to SAR 10 million in the first nine months of 2021, compared to a net loss of SAR 32.9 million in a year-earlier period, driven by higher sales, and lower financing expenses.

Financials (M)

Item	9m 2020	9m 2021	Change‬
Revenues	317.77	461.18	45.1 %
Gross Income	(0.04)	35.32	98197.2 %
Operating Income	(23.29)	2.62	111.2 %
Net Income	(32.88)	(9.95)	69.7 %
Average Shares	81.25	81.25	-
EPS (Riyals)	(0.40)	(0.12)	69.7 %

Al Abdullatif narrowed net loss after Zakat and tax to SAR 10.6 million in Q3 2021, from SAR 12.12 million in year-earlier period, on higher sales, lower cost of sales and decreased financing expenses.

On a sequential basis, the company turned to losses in Q3 2021, versus a net profit after Zakat and tax of SAR 5.02 million in Q2 2021.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2020	Q3 2021	Change‬
Revenues	102.56	156.17	52.3 %
Gross Income	(2.09)	8.02	483.8 %
Operating Income	(10.22)	(6.05)	40.8 %
Net Income	(12.12)	(10.59)	12.6 %
Average Shares	81.25	81.25	-
EPS (Riyals)	(0.15)	(0.13)	12.6 %

Item	Q2 2021	Q3 2021	Change‬
Revenues	150.91	156.17	3.5 %
Gross Income	17.73	8.02	(54.8 %)
Operating Income	8.47	(6.05)	(171.4 %)
Net Income	5.02	(10.59)	(310.9 %)
Average Shares	81.25	81.25	-
EPS (Riyals)	0.06	(0.13)	(310.9 %)

Total shareholders’ equity (after deducting minority equity) inched up 0.5% year-on-year (YoY) to SAR 1.1218 billion for the nine-month period.

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