Fawaz Alhokair widens loss to SAR 1.110 bln in FY20/21

30/06/2021 Argaam Exclusive

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Fawaz Abdulaziz Alhokair Co. widened net loss after Zakat and tax by 63% to SAR 1.11 billion in the fiscal year ended March 31, 2021, from SAR 681.2 million a year earlier.

Financials (M)

Item	2019	2020	Change‬
Revenues	5,341.79	4,232.51	(20.8 %)
Gross Income	995.88	17.70	(98.2 %)
Operating Income	344.01	(721.92)	(309.9 %)
Net Income	(656.26)	(1090.75)	(66.2 %)
Average Shares	114.77	114.77	-
EPS (Riyals)	(5.72)	(9.50)	(66.2 %)

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	1,085.03	1,132.26	4.4 %
Gross Income	46.84	(270.38)	(677.3 %)
Operating Income	(163.11)	(466.45)	(186.0 %)
Net Income	(887.56)	(337.87)	61.9 %
Average Shares	114.77	114.77	-
EPS (Riyals)	(7.73)	(2.94)	61.9 %

Item	Q3 2020	Q4 2020	Change‬
Revenues	1,349.71	1,132.26	(16.1 %)
Gross Income	281.45	(270.38)	(196.1 %)
Operating Income	91.63	(466.45)	(609.1 %)
Net Income	(128.56)	(337.87)	(162.8 %)
Average Shares	114.77	114.77	-
EPS (Riyals)	(1.12)	(2.94)	(162.8 %)

The losses were attributed to a 20.8% decrease year-on-year (YoY) in revenue, due to the lockdowns and movement restrictions amid the COVID-19 pandemic across Saudi Arabia and all international markets, in which the company operates. In the Kingdom, all stores were closed from March 15 to April 26, 2020.

Selling, general and administrative expenses (SG&A) increased by 24.1% YoY to SAR 442.3 million.

In the fourth quarter, the company incurred a net loss of SAR 357.4 million.

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