Taiba Investments Co. turned to a net loss after Zakat and tax of SAR 117.3 million in 2021 from a net profit of SAR 98.8 million in the year-ago period.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 220.95 | 129.09 | (41.6 %) |
| Gross Income | 123.24 | 43.72 | (64.5 %) |
| Operating Income | 77.46 | (76.77) | (199.1 %) |
| Net Income | 98.77 | (117.30) | (218.8 %) |
| Average Shares | 160.46 | 160.46 | - |
| EPS (Riyals) | 0.62 | (0.73) | (218.8 %) |
The company attributed the losses to lower revenues from hotels and commercial centers in 2021, in addition to provisions recorded in other operating expenses on trade receivables from commercial centers' tenants, due to the negative impact of the pandemic.
Furthermore, 2021 witnessed higher administrative expenses due to the increase in the consulting expenses, along with higher Zakat expenses as a result of the sale of part of the investments in equity shares.
The company widened its net loss after Zakat and tax to SAR 64.1 million in Q4 2021, from SAR 8.1 million in year-earlier period.
On a sequential basis, the company increased in losses from SAR 38.3 million in Q3 2021.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 43.14 | 33.33 | (22.7 %) |
| Gross Income | 17.88 | 7.56 | (57.7 %) |
| Operating Income | 5.07 | (27.67) | (645.8 %) |
| Net Income | (8.13) | (64.12) | (688.3 %) |
| Average Shares | 160.46 | 160.46 | - |
| EPS (Riyals) | (0.05) | (0.40) | (688.3 %) |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 29.93 | 33.33 | 11.4 % |
| Gross Income | 10.45 | 7.56 | (27.7 %) |
| Operating Income | (30.19) | (27.67) | 8.4 % |
| Net Income | (38.38) | (64.12) | (67.1 %) |
| Average Shares | 160.46 | 160.46 | - |
| EPS (Riyals) | (0.24) | (0.40) | (67.1 %) |
Shareholders' equity, excluding minority interests, at the end of the period amounted to SAR 3.605 billion, compared to SAR 3.655 billion at the end of the same period of the previous year.
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