Fitaihi swings to SAR 30 mln profit in 2020

07/03/2021 Argaam Exclusive

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Fitaihi Holding Group turned to a net profit after Zakat and tax of SAR 30 million for 2020, compared to a net loss of SAR 9.5 million a year earlier.



Financials (M)

Item 2019 2020 Change‬
Revenues 71.22 48.02 (32.6 %)
Gross Income 29.39 18.16 (38.2 %)
Operating Income (6.39) (11.47) (79.4 %)
Net Income (9.54) 30.00 414.4 %
Average Shares 275.00 275.00 -
Earnings Per Share before unusual items (Riyals) 0.06 (0.02) (127.6 %)
EPS (Riyal) (0.03) 0.11 414.4 %

The company attributed the earnings to SAR 32.1 million profits achieved from selling part of its stake in the share capital of its associate, Al-Jouf Agricultural Development Co., and lower selling and administrative expenses by SAR 6.2 million.

 

Fitaihi also cited SAR 16 million profits from the reversed part of the impairment losses incurred in the value of the investment from Al-Jouf Agricultural Development Co.

 

The loss was partially offset by a 32.6% decline in sales due to the closure of commercial centers from mid-March until the end of April 2020 on COVID-19, higher Zakat expenditure by 153.7%, lower share of business from associates by 51.4%, and higher net loss from discontinued operations by 308%.



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 20.55 15.93 (22.5 %)
Gross Income 8.04 7.04 (12.5 %)
Operating Income (0.43) (1.61) (275.5 %)
Net Income (24.73) 11.22 145.4 %
Average Shares 275.00 275.00 -
Earnings Per Share before unusual items (Riyal) 0.00 0.01 1543.8 %
EPS (Riyal) (0.09) 0.04 145.4 %

The company also swung to a net profit after Zakat and tax of SAR 11.2 million in Q4 2020 from a net loss of SAR 24.7 million in the same period in 2019.

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Share Price

Fitaihi Holding Group
3.50
0.00 0.00 %

Fitaihi Holding Group (FITAIHI GROUP)

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Financial Ratios
Current
Market Cap (M Riyal) 962.50
Enterprise Value (EV) (M) 958.31
Shares Outstanding ((M)) 275.00
EPS ( Riyal) (TTM) 0.04
Book Value (BV) ( Riyal) 1.69
Par Value ( Riyal) 1.00
Recurring P/E 83.72
P/E (TTM) 83.72
Price/book 2.07
Return on Average Assets (%) (TTM) 2.4
Return on Average Equity (%) (TTM) 2.6
EV/adj EBITDA (171.61)
EV/Revenues 21.47
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