SIDC’s 2022 net loss widens to SAR 38.8 mln; Q4 at SAR 19.7 mln

07/05/2023 Argaam Exclusive

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Saudi Industrial Development Co. (SIDC) widened its net loss after Zakat and tax to SAR 38.8 million in 2022, from SAR 24.5 million in the year before.



Financials (M)

Item 2021 2022 Change‬
Revenues 163.08 155.35 (4.7 %)
Gross Income 26.81 22.06 (17.7 %)
Operating Income (22.71) (41.86) (84.4 %)
Net Income (24.50) (38.77) (58.3 %)
Average Shares 13.50 13.50 -
Earnings Per Share before unusual items (Riyals) (1.81) (3.02) (66.7 %)
EPS (Riyal) (1.81) (2.87) (58.3 %)

The YoY uptick in losses was attributed to increased operating expenses and production costs, amid lower non-operating revenues and a pullback in machinery and equipment.



Current Quarter Comparison (M)

Compared With The
Item Q4 2021 Q4 2022 Change‬
Revenues 38.20 34.13 (10.7 %)
Gross Income 7.44 4.10 (44.9 %)
Operating Income (8.97) (20.31) (126.6 %)
Net Income (12.69) (19.73) (55.5 %)
Average Shares 13.50 13.50 -
Earnings Per Share before unusual items (Riyal) (0.94) (1.61) (71.7 %)
EPS (Riyal) (0.94) (1.46) (55.5 %)

Total shareholders’ equity, excluding minority interest, reached SAR 166.91 million by the end of the year, compared to SAR 204.01 million in 2021.

 

Accumulated losses for the current period amounted to SAR 37.1 million, against SAR 6.4 million in the prior-year period.

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Share Price

Saudi Industrial Development Co.
28.84
(0.16) (0.55 %)

Saudi Industrial Development Co. (SIDC)

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Financial Ratios
Current
Market Cap (M Riyal) 389.34
Enterprise Value (EV) (M Riyal) 432.44
Shares Outstanding ((M)) 13.50
EPS ( Riyal) (TTM) (1.93)
Book Value (BV) ( Riyal) 4.00
Par Value ( Riyal) 10.00
Recurring P/E Neg
P/E (TTM) NEG
Price/book 7.20
Return on Average Assets (%) (TTM) (13.65 )
Return on Average Equity (%) (TTM) (38.86 )
EV/adj EBITDA (28.45)
EV/Revenues 3.67
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