Saudi Arabian Amiantit Co. narrowed net losses after Zakat and tax to SAR 171.3 million for 2021, from SAR 389.4 million in the previous year.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 441.02 | 438.91 | (0.5 %) |
| Gross Income | (65.15) | (76.54) | (17.5 %) |
| Operating Income | (153.41) | (187.57) | (22.3 %) |
| Net Income | (389.35) | (171.32) | 56.0 % |
| Average Shares | 30.25 | 30.25 | - |
| EPS (Riyals) | (12.87) | (5.66) | 56.0 % |
The decline in losses was driven by lower credit loss provisions of SAR 21 million, compared to SAR 105.6 million last year.
The company also cited generating accounting profit of SAR 64 million in the 12-month period.
Q4 2021 net loss after Zakat and tax trimmed to SAR 23.5 million, from SAR 145.3 million in the year-earlier period.
On a sequential basis, net loss narrowed from SAR 87.4 million in Q3 2021.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 79.83 | 117.14 | 46.7 % |
| Gross Income | (38.09) | 0.24 | 100.6 % |
| Operating Income | (60.42) | (20.43) | 66.2 % |
| Net Income | (145.26) | (23.52) | 83.8 % |
| Average Shares | 30.25 | 30.25 | - |
| EPS (Riyals) | (4.80) | (0.78) | 83.8 % |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 96.11 | 117.14 | 21.9 % |
| Gross Income | (33.63) | 0.24 | 100.7 % |
| Operating Income | (69.42) | (20.43) | 70.6 % |
| Net Income | (87.35) | (23.52) | 73.1 % |
| Average Shares | 30.25 | 30.25 | - |
| EPS (Riyals) | (2.89) | (0.78) | 73.1 % |
Total shareholders’ equity (after minority interests) stood at SAR -49.42 million for 2021, versus SAR 148.58 million in 2020.
Accumulated losses amounted to SAR 243.6 million, or 76.14% of the capital, at the end of the current period.
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