Saudi Industrial Development Co. (SIDC) reported a net loss after Zakat and tax of SAR 24.5 million for 2021, from SAR 3.2 million logged a year earlier.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 164.60 | 163.08 | (0.9 %) |
| Gross Income | 35.65 | 26.81 | (24.8 %) |
| Operating Income | (10.86) | (22.71) | (109.0 %) |
| Net Income | (3.25) | (24.50) | (654.4 %) |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.08) | (0.61) | (654.4 %) |
The increase in losses is mainly due to higher operating expenses and production costs.
SIDC’s net loss after Zakat and tax extended to SAR 12.7 million in Q4 2021, from SAR 2.7 million in Q4 2020.
On a sequential basis, the company’s losses widened from SAR 5.7 million in Q3 2021.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 43.06 | 38.20 | (11.3 %) |
| Gross Income | 8.48 | 7.44 | (12.2 %) |
| Operating Income | (7.35) | (8.97) | (22.1 %) |
| Net Income | (0.54) | (12.69) | (2,267.9 %) |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.01) | (0.32) | (2,267.9 %) |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 37.40 | 38.20 | 2.1 % |
| Gross Income | 4.22 | 7.44 | 76.3 % |
| Operating Income | (7.29) | (8.97) | (23.1 %) |
| Net Income | (5.74) | (12.69) | (121.0 %) |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.14) | (0.32) | (121.0 %) |
Total shareholders’ equity, excluding minority interest, fell 3% to SAR 204.01 million from SAR 210.42 million a year ago.
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