Aseer Trading widens losses to SAR 63.5 mln in 2021; Q4 losses at SAR 34.8 mln

27/03/2022 Argaam Exclusive

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Aseer Trading, Tourism and Manufacturing Co. reported a net loss after Zakat and tax of SAR 63.5 million in 2021, against SAR 48.5 million in losses a year earlier.

Financials (M)

Item	2020	2021	Change‬
Revenues	1,569.62	1,711.31	9.0 %
Gross Income	450.92	486.09	7.8 %
Operating Income	30.11	61.22	103.4 %
Net Income	(48.55)	(63.49)	(30.8 %)
Average Shares	126.39	126.39	-
EPS (Riyals)	(0.38)	(0.50)	(30.8 %)

The widening losses were mainly due to lower gross and operating profit, resulting from deepening losses on investments and an increase in sales and distribution costs as well as income tax expenses.

Aseer’s net loss after Zakat and tax extended to SAR 34.8 million in Q4 2021 from SAR 40.06 million in Q4 2020.

On a sequential basis, the company’s losses widened from SAR 26.6 million in Q3 2021.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	362.64	470.54	29.8 %
Gross Income	91.79	129.37	40.9 %
Operating Income	(12.47)	13.86	211.2 %
Net Income	(15.74)	(34.75)	(120.8 %)
Average Shares	126.39	126.39	-
EPS (Riyals)	(0.12)	(0.27)	(120.8 %)

Item	Q3 2021	Q4 2021	Change‬
Revenues	411.17	470.54	14.4 %
Gross Income	116.64	129.37	10.9 %
Operating Income	20.01	13.86	(30.7 %)
Net Income	(26.56)	(34.75)	(30.9 %)
Average Shares	126.39	126.39	-
EPS (Riyals)	(0.21)	(0.27)	(30.9 %)

Total shareholders’ equity, excluding minority interest, fell 1.6% to SAR 1.402 billion from SAR 1.38 billion a year ago.

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