Financial Results : Saudi Printing widens losses to SAR 59.3 mln in 2021; Q4 at SAR 12.6 mln

Saudi Printing widens losses to SAR 59.3 mln in 2021; Q4 at SAR 12.6 mln

28/03/2022 Argaam Exclusive

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Saudi Printing and Packaging Co. (SPPC) widened net loss after Zakat and tax to SAR 59.3 million in 2021, compared to a loss of SAR 20.54 million in the year before, due to higher cost of raw materials.



Financials (M)

Item 2020 2021 Change‬
Revenues 767.69 783.64 2.1 %
Gross Income 127.42 88.98 (30.2 %)
Operating Income 13.96 (23.19) (266.1 %)
Net Income (20.55) (59.30) (188.6 %)
Average Shares 60.00 60.00 -
EPS (Riyals) (0.34) (0.99) (188.6 %)

In Q4 2021, SPPC widened net loss after Zakat and tax to SAR 12.64 million, compared to SAR 8.95 million a year earlier due to lower gross profit.

 

On a sequential basis, net loss narrowed from SAR 17.75 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2020 Q4 2021 Change‬
Revenues 169.34 212.38 25.4 %
Gross Income 25.83 25.62 (0.8 %)
Operating Income (0.11) (3.02) (2,571.7 %)
Net Income (8.95) (12.64) (41.2 %)
Average Shares 60.00 60.00 -
EPS (Riyals) (0.15) (0.21) (41.2 %)

Shareholders' equity, after excluding minority interests, at the end of the period amounted to SAR 641.75 million, compared to SAR 702.74 million a year earlier.

 

Elsewhere, accumulated losses amounted to SAR 66.6 million, or 11.1% of the capital.

 

Total comprehensive loss, meanwhile, rose 188% to stand at SAR 61 million, compared to SAR 21.16 million in the year before.

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