Electrical Industries turns to profit of SAR 23.9 mln in 2020

16/03/2021 Argaam Exclusive

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Share Price

Electrical Industries Co.
6.00
0.03 0.50 %

Electrical Industries Co. (EIC)

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Electrical Industries Co. reported a net profit after Zakat and tax of SAR 23.9 million for 2020, from a net loss after Zakat and tax of SAR 40.2 million in 2019.

 

The company attributed the turn to net profit to higher sales and the diversification of sold products which includes products with higher profitability, in addition to improvement of gross margin of certain products.

 

Meanwhile, selling and distribution expenses and financial costs decreased during 2020.

 



Financials (M)

Item 2019 2020 Change‬
Revenues 577.56 648.69 12.3 %
Gross Income 72.41 111.50 54.0 %
Operating Income 3.13 44.28 1316.6 %
Net Income (40.19) 23.92 159.5 %
Average Shares 1,125.00 1,125.00 -
EPS (Halala) (3.57) 2.13 159.5 %

The company turned to a net profit after Zakat and tax of SAR 28 million in Q4 2020 from a net loss after Zakat and tax of SAR 32.8 million in Q4 2019.



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 184.08 251.48 36.6 %
Gross Income 11.97 52.79 341.1 %
Operating Income (6.59) 33.65 610.5 %
Net Income (32.81) 27.88 185.0 %
Average Shares 1,125.00 1,125.00 -
EPS (Halala) (2.92) 2.48 185.0 %

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