Financial Results : Saudi Printing narrows losses to SAR 9.2 mln in 2022; Q4 at SAR 3 mln

Saudi Printing narrows losses to SAR 9.2 mln in 2022; Q4 at SAR 3 mln

22/03/2023 Argaam Exclusive

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Saudi Printing and Packaging Co. reported a net loss of SAR 9.2 million in 2022, from SAR 59.3 million in the year-ago period.



Financials (M)

Item 2021 2022 Change‬
Revenues 783.64 1,000.09 27.6 %
Gross Income 88.98 142.39 60.0 %
Operating Income (23.19) 19.71 185.0 %
Net Income (59.30) (9.22) 84.5 %
Average Shares 60.00 60.00 -
EPS (Riyals) (0.99) (0.15) 84.5 %

The lower losses were attributed to higher sales and other revenue.



Current Quarter Comparison (M)

Compared With The
Item Q4 2021 Q4 2022 Change‬
Revenues 212.38 232.29 9.4 %
Gross Income 25.62 32.07 25.1 %
Operating Income (3.02) 5.72 289.4 %
Net Income (12.64) (2.97) 76.5 %
Average Shares 60.00 60.00 -
EPS (Riyals) (0.21) (0.05) 76.5 %

The fourth-quarter losses decreased to SAR 3 million from SAR 12.6 million in the year earlier period.

 

Sequentially, the company narrowed its losses from SAR 3.87 million in Q3 2022.

 

Total shareholders’ equity, excluding minority interest, amounted to SAR 637.94 million as of Dec. 31, 2022, compared to SAR 641.75 million a year earlier.

 

Accumulated losses amounted to SAR 70.40 million, or 11.73% of the capital, as of Dec. 31, 2022.

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