Al Abdullatif Industrial Investment Co. widened net losses to SAR 64.1 million 9M 2023 from SAR 31.1 million a year earlier, due to a sharp decrease in sales and an increase in the cost of sales and financing costs.
| Item | 9m 2022 | 9m 2023 | Change |
|---|---|---|---|
| Revenues | 492.48 | 381.49 | (22.5 %) |
| Gross Income | 14.27 | (18.91) | (232.5 %) |
| Operating Income | (18.63) | (44.37) | (138.2 %) |
| Net Income | (31.13) | (64.06) | (105.8 %) |
| Average Shares | 81.25 | 81.25 | - |
| EPS (Riyals) | (0.38) | (0.79) | (105.8 %) |
Net losses deepened by 56% year-on-year (YoY) to SAR 24.3 million in Q3 2023, due to lower sales value and other income as finance costs increased.
Compared to Q2 2023, net losses expanded by 23% from SAR 19.76 million.
| Item | Q3 2022 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 142.60 | 117.69 | (17.5 %) |
| Gross Income | (1.15) | (9.45) | (721.9 %) |
| Operating Income | (10.28) | (17.50) | (70.2 %) |
| Net Income | (15.57) | (24.30) | (56.0 %) |
| Average Shares | 81.25 | 81.25 | - |
| EPS (Riyals) | (0.19) | (0.30) | (56.0 %) |
| Item | Q2 2023 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 123.53 | 117.69 | (4.7 %) |
| Gross Income | (4.62) | (9.45) | (104.8 %) |
| Operating Income | (13.95) | (17.50) | (25.4 %) |
| Net Income | (19.76) | (24.30) | (23.0 %) |
| Average Shares | 81.25 | 81.25 | - |
| EPS (Riyals) | (0.24) | (0.30) | (23.0 %) |
Shareholders’ equity, no minority interest, reached SAR 1.21 billion as of Sept. 30, 2023, down from SAR 1.30 billion a year earlier.
Accumulated losses reached SAR 91.34 million by the end of the nine-month period, representing 11.24% of the company’s capital.
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