Al Abdullatif Industrial Investment Co. deepened Q1 2023 net loss to SAR 20 million, from SAR 12.1 million in the year-earlier period, due to lower sales and higher cost of sales. In addition, the financing cost rose and investment income declined.
| Item | Q1 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 181.65 | 140.28 | (22.8 %) |
| Gross Income | 2.90 | (4.84) | (267.0 %) |
| Operating Income | (9.22) | (12.92) | (40.2 %) |
| Net Income | (12.11) | (20.00) | (65.2 %) |
| Average Shares | 81.25 | 81.25 | - |
| EPS (Riyals) | (0.15) | (0.25) | (65.2 %) |
| Item | Q4 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 155.02 | 140.28 | (9.5 %) |
| Gross Income | (6.84) | (4.84) | 29.2 % |
| Operating Income | (18.92) | (12.92) | 31.7 % |
| Net Income | (26.74) | (20.00) | 25.2 % |
| Average Shares | 81.25 | 81.25 | - |
| EPS (Riyals) | (0.33) | (0.25) | 25.2 % |
On a sequential basis, net loss shrank from SAR 26.74 million in Q4 2022.
Accumulated losses reached SAR 47.28 million at the end of Q1 2023, or 5.82% of capital.
Total shareholders’ equity, no minority interest, stood at SAR 1.26 billion by the end of Q1 2023 compared to SAR 1.08 billion a year ago.
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