Jabal Omar Development Co. reported a net loss of SAR 352.4 million for 2022, against a profit of SAR 946.2 million a year earlier.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 310.36 | 849.50 | 173.7 % |
| Gross Income | (224.64) | 29.47 | 113.1 % |
| Operating Income | (432.35) | (176.78) | 59.1 % |
| Net Income | 946.21 | (352.43) | (137.2 %) |
| Average Shares | 929.40 | 1,041.97 | 12.1 % |
| EPS (Riyals) | 1.02 | (0.34) | (133.2 %) |
The company attributed the losses to the recognition of around a SAR 1 billion gain on sale of two plots of land and an adjusted profit from loan restructuring in 2021.
The company turned to a net loss in Q4 2022 of SAR 194.5 million against a profit of SAR 1.29 billion in the same period a year earlier.
On a sequential basis, Jabal Omar swung to losses in Q4 2022 from a profit of SAR 153.1 million in Q3 2022.
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 168.38 | 239.58 | 42.3 % |
| Gross Income | (24.58) | (50.02) | (103.6 %) |
| Operating Income | (128.07) | (59.03) | 53.9 % |
| Net Income | 1,290.98 | (194.45) | (115.1 %) |
| Average Shares | 929.40 | 1,041.97 | 12.1 % |
| EPS (Riyals) | 1.39 | (0.19) | (113.4 %) |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 218.63 | 239.58 | 9.6 % |
| Gross Income | 7.98 | (50.02) | (726.9 %) |
| Operating Income | (86.78) | (59.03) | 32.0 % |
| Net Income | 153.11 | (194.45) | (227.0 %) |
| Average Shares | 1,041.97 | 1,041.97 | - |
| EPS (Riyals) | 0.15 | (0.19) | (227.0 %) |
Total shareholders’ equity, excluding minority interest, rose to SAR 13.38 billion as of Dec. 31, 2022, from SAR 8.62 billion a year earlier.
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