Saudi Cable Co. widened its net loss after Zakat and tax to SAR 194.3 million in 2021, compared to SAR 55 million a year earlier.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 368.78 | 160.55 | (56.5 %) |
| Gross Income | (57.66) | (76.63) | (32.9 %) |
| Operating Income | (169.81) | (144.22) | 15.1 % |
| Net Income | (55.01) | (194.31) | (253.2 %) |
| Average Shares | 6.67 | 6.67 | - |
| EPS (Riyals) | (8.24) | (29.12) | (253.2 %) |
The company attributed the increase to lower volumes and profit margins year-on-year (YoY) in 2021, higher finance cost, lower other income, impairment of deferred tax assets, and a rise in provisions for Zakat and income tax.
The cable producer also widened the fourth-quarter 2021 loss by 98.7% year-on-year from SAR 64.6 million to SAR 92.6 million.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 71.46 | 31.85 | (55.4 %) |
| Gross Income | (20.34) | (14.18) | 30.3 % |
| Operating Income | (63.97) | (32.64) | 49.0 % |
| Net Income | (46.64) | (92.68) | (98.7 %) |
| Average Shares | 6.67 | 6.67 | - |
| EPS (Riyals) | (6.99) | (13.89) | (98.7 %) |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 23.50 | 31.85 | 35.5 % |
| Gross Income | (24.22) | (14.18) | 41.5 % |
| Operating Income | (43.24) | (32.64) | 24.5 % |
| Net Income | (46.56) | (92.68) | (99.1 %) |
| Average Shares | 6.67 | 6.67 | - |
| EPS (Riyals) | (6.98) | (13.89) | (99.1 %) |
Total shareholders’ equity, excluding minority interest, reached SAR 81.106 million as of Dec. 31, 2021, a fall of 71.5% from SAR 285.4 million a year before.
Accumulated losses reached SAR 256.7 million, representing 71.2% of the company’s capital.
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