Al Abdullatif Industrial Investment Co. widened Q1 2022 net loss to SAR 12.1 million, from SAR 4.4 million in the year-earlier period.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 154.10 | 181.65 | 17.9 % |
| Gross Income | 9.56 | 2.90 | (69.7 %) |
| Operating Income | 0.20 | (9.22) | (4778.2 %) |
| Net Income | (4.38) | (12.11) | (176.5 %) |
| Average Shares | 81.25 | 81.25 | - |
| EPS (Riyals) | (0.05) | (0.15) | (176.5 %) |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 180.34 | 181.65 | 0.7 % |
| Gross Income | (16.53) | 2.90 | 117.5 % |
| Operating Income | (28.76) | (9.22) | 68.0 % |
| Net Income | (37.81) | (12.11) | 68.0 % |
| Average Shares | 81.25 | 81.25 | - |
| EPS (Riyals) | (0.47) | (0.15) | 68.0 % |
The losses came on the back of lower gross profit during the current quarter compared to the same quarter of the previous year, in addition to operating losses and an increase in the cost of materials.
On a sequential basis, net loss shrank from SAR 37.81 million in Q4 2021.
Total shareholders’ equity, excluding minority interest, dropped 3.95% year-on-year (YoY) to SAR 1.08 million by the end of Q1 2022.
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