Financial Results : Shams trims 2022 net loss to SAR 7.2 mln, Q4 at SAR 6 mln

Shams trims 2022 net loss to SAR 7.2 mln, Q4 at SAR 6 mln

30/03/2023 Argaam Exclusive

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Tourism Enterprise Co. (Shams) narrowed 2022 net loss to SAR 7.2 million, from SAR 14 million a year earlier, on higher other revenue and lower provisions.



Financials (M)

Item 2021 2022 Change‬
Revenues 15.98 10.15 (36.4 %)
Gross Income 5.15 (0.42) (108.2 %)
Operating Income (12.97) (7.36) 43.3 %
Net Income (14.04) (7.23) 48.5 %
Average Shares 677.40 1,156.47 70.7 %
Earnings Per Share before unusual items (Halala) (2.07) (0.63) 69.8 %
EPS (Halala) (2.07) (0.63) 69.8 %

Q4 2022 net loss stood at SAR 6 million, versus a net profit at SAR 0.01 million in the year-earlier period.

 

On a sequential basis, net loss deepened from SAR 1.39 million in Q3 2022.



Current Quarter Comparison (M)

Compared With The
Item Q4 2021 Q4 2022 Change‬
Revenues 3.76 2.86 (24.0 %)
Gross Income 1.82 (1.16) (163.6 %)
Operating Income 0.19 (6.24) (3330.7 %)
Net Income 0.01 (6.00) (120126.0 %)
Average Shares 677.40 1,156.47 70.7 %
Earnings Per Share before unusual items (Halala) 0.00 (0.52) (70405.3 %)
EPS (Halala) 0.00 (0.52) (70405.3 %)

Total shareholders’ equity, excluding minority interest, stood at SAR 550.81 million by Dec. 31, 2022, compared to SAR 55.43 million a year earlier.

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