Al Abdullatif Industrial Investment Co. widened net losses to SAR 57.9 million in 2022, compared to SAR 47.8 million in 2021.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 641.52 | 647.50 | 0.9 % |
| Gross Income | 18.79 | 7.44 | (60.4 %) |
| Operating Income | (26.14) | (37.55) | (43.7 %) |
| Net Income | (47.75) | (57.87) | (21.2 %) |
| Average Shares | 81.25 | 81.25 | - |
| EPS (Riyals) | (0.59) | (0.71) | (21.2 %) |
The company noted a decrease in gross profit and an increase in operating losses, as cost of materials went up along with higher operating expenses and cost of sales. In addition, financing costs rose while other revenues decreased.
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 180.34 | 155.02 | (14.0 %) |
| Gross Income | (16.53) | (6.84) | 58.6 % |
| Operating Income | (28.76) | (18.92) | 34.2 % |
| Net Income | (37.81) | (26.74) | 29.3 % |
| Average Shares | 81.25 | 81.25 | - |
| EPS (Riyals) | (0.47) | (0.33) | 29.3 % |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 142.60 | 155.02 | 8.7 % |
| Gross Income | (1.15) | (6.84) | (494.5 %) |
| Operating Income | (10.28) | (18.92) | (84.1 %) |
| Net Income | (15.57) | (26.74) | (71.7 %) |
| Average Shares | 81.25 | 81.25 | - |
| EPS (Riyals) | (0.19) | (0.33) | (71.7 %) |
Q4 2022 net loss lowered to SAR 26.7 million from SAR 37.8 million in Q4 2021.
Sequentially, net loss widened from SAR 15.57 million in Q3 2022.
Total shareholders’ equity, no minority interest, stood at SAR 1.28 billion as of Dec. 31, 2022, compared to SAR 1.09 billion a year earlier.
Accumulated losses amounted to SAR 27.28 million, or 3.36% of the capital, as on Dec. 31, 2022.
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