Financial Results : AYYAN Investment’s 2021 net profit declines 84% to SAR 4.3 mln; Q4 loss at SAR 7.4 mln

AYYAN Investment’s 2021 net profit declines 84% to SAR 4.3 mln; Q4 loss at SAR 7.4 mln

20/03/2022 Argaam Exclusive

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AYYAN Investment Co. reported a net profit of SAR 4.3 million for 2021, a decline of 84% year-on-year (YoY) from SAR 27.3 million.

 

The earnings drop was driven by higher cost of sales, increased general and administrative expenses (G&As), as well as financing costs, and subdued other income.

 

The company also cited not recognizing the profit from the disposal of discontinued operations.  



Financials (M)

Item 2020 2021 Change‬
Revenues 255.32 269.56 5.6 %
Gross Income 67.87 64.55 (4.9 %)
Operating Income 1.73 (10.12) (685.4 %)
Net Income 27.29 4.29 (84.3 %)
Average Shares 80.79 82.68 2.3 %
Earnings Per Share before unusual items (Riyals) 0.12 0.05 (56.7 %)
EPS (Riyal) 0.34 0.05 (84.6 %)

AYYAN widened Q4 2021 net loss to SAR 7.4 million, from SAR 1.76 million in Q4 2020.

 

Sequentially, the company swung to losses in Q4 2021, versus SAR 3.74 million profit in Q3 2021.



Current Quarter Comparison (M)

Compared With The
Item Q4 2020 Q4 2021 Change‬
Revenues 64.62 60.80 (5.9 %)
Gross Income 16.45 6.50 (60.5 %)
Operating Income (1.32) (11.29) (758.5 %)
Net Income (1.76) (7.42) (321.2 %)
Average Shares 80.79 82.68 2.3 %
Earnings Per Share before unusual items (Riyal) (0.02) (0.09) (311.5 %)
EPS (Riyal) (0.02) (0.09) (311.5 %)

Total shareholders’ equity, excluding minority interest, increased 7.7% YoY to SAR 808.659 million for 2021.

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