Saudi Industrial Investment Group (SIIG) reported net profit after Zakat and tax of SAR 92 million for 2020, plunging 85% year-on-year (YoY), due to losses of SAR 15 million from jointly managed projects.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 7,655.53 | - | - |
| Gross Income | 1,882.86 | - | - |
| Operating Income | 1,266.64 | (52.30) | (104.1 %) |
| Net Income | 606.27 | 91.65 | (84.9 %) |
| Average Shares | 450.00 | 450.00 | - |
| EPS (Riyals) | 1.35 | 0.20 | (84.9 %) |
The company also attributed lower profit share from National Petrochemical Co. (Petrochem) of SAR 114 million, compared to SAR 336 million in year-earlier period, for the earnings decline.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 1,869.64 | - | - |
| Gross Income | 414.40 | - | - |
| Operating Income | 253.08 | (24.32) | (109.6 %) |
| Net Income | 62.68 | 235.02 | 274.9 % |
| Average Shares | 450.00 | 450.00 | - |
| EPS (Riyals) | 0.14 | 0.52 | 274.9 % |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Operating Income | (6.96) | (24.32) | (249.5 %) |
| Net Income | 85.48 | 235.02 | 175.0 % |
| Average Shares | 450.00 | 450.00 | - |
| EPS (Riyals) | 0.19 | 0.52 | 175.0 % |
Q4 2020 net profit after Zakat and tax increased by more than three-fold YoY to SAR 235 million, driven by higher profit share from associates, and lower selling and distribution expenses.
On a sequential basis, Q4 2020 net profit more than doubled.
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