Aseer widens losses to SAR 48.5 mln for 2020

31/03/2021 Argaam Exclusive

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Aseer Trading, Tourism and Manufacturing Co. widened net loss after Zakat and tax to SAR 48.5 million for 2020, compared to SAR 22.8 million in year-earlier period.

These losses were driven by lower gross profit, decreased operating profit, and higher tax expenses.

Financials (M)

Item	2019	2020	Change‬
Revenues	1,883.94	1,569.62	(16.7 %)
Gross Income	547.18	450.92	(17.6 %)
Operating Income	105.76	30.11	(71.5 %)
Net Income	(22.75)	(48.55)	(113.4 %)
Average Shares	126.39	126.39	-
EPS (Riyals)	(0.18)	(0.38)	(113.4 %)

Q4 2020 net loss after Zakat and tax stood at SAR 40 million, versus SAR 14.55 million in prior-year period.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	513.08	362.64	(29.3 %)
Gross Income	160.86	91.79	(42.9 %)
Operating Income	42.23	(12.47)	(129.5 %)
Net Income	(14.51)	(15.74)	(8.5 %)
Average Shares	126.39	126.39	-
EPS (Riyals)	(0.11)	(0.12)	(8.5 %)

Item	Q3 2020	Q4 2020	Change‬
Revenues	411.24	362.64	(11.8 %)
Gross Income	122.14	91.79	(24.8 %)
Operating Income	21.93	(12.47)	(156.9 %)
Net Income	(29.74)	(15.74)	47.1 %
Average Shares	126.39	126.39	-
EPS (Riyals)	(0.24)	(0.12)	47.1 %

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