Emaar The Economic City (Emaar EC) narrowed net losses after Zakat and tax by 17.7% to SAR 160 million in Q1 2022, from SAR 194 million in the year-earlier period.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 83.59 | 86.62 | 3.6 % |
| Gross Income | (17.07) | (36.48) | (113.7 %) |
| Operating Income | (158.58) | (133.43) | 15.9 % |
| Net Income | (194.49) | (166.01) | 14.6 % |
| Average Shares | 991.67 | 1,133.33 | 14.3 % |
| EPS (Riyals) | (0.20) | (0.15) | 25.3 % |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 114.39 | 86.62 | (24.3 %) |
| Gross Income | (195.48) | (36.48) | 81.3 % |
| Operating Income | (261.53) | (133.43) | 49.0 % |
| Net Income | (291.69) | (166.01) | 43.1 % |
| Average Shares | 991.67 | 1,133.33 | 14.3 % |
| EPS (Riyals) | (0.29) | (0.15) | 50.2 % |
The developer reduced losses due to a 62% year-on-year (YoY) decline in gross loss and lower depreciation expenses, along with a decrease in impairment loss, financial charges, Zakat charges, and general and administrative expenses.
On a sequential basis, Q1 2022 losses narrowed by 43.4% from SAR 282.60 million.
Shareholders’ equity, after minority interest, increased to SAR 7.719 billion as of March 31, 2022, from SAR 5.663 billion a year earlier.
Accumulated losses amounted to SAR 3.626 billion as of March 31, 2022, representing 31.99% of the company's capital.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}