Fawaz Abdulaziz Alhokair Co. sustained a net loss after zakat and tax of SAR 681.2 million for the fiscal year ended March 2020, against a net profit of SAR 138.1 million a year earlier.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 5,425.80 | 5,341.79 | (1.5 %) |
| Gross Income | 1,084.50 | 995.88 | (8.2 %) |
| Operating Income | 335.80 | 344.01 | 2.4 % |
| Net Income | 144.75 | (656.26) | (553.4 %) |
| Average Shares | 114.77 | 114.77 | - |
| EPS (Riyals) | 1.26 | (5.72) | (553.4 %) |
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 1,072.57 | 1,085.03 | 1.2 % |
| Gross Income | 34.57 | 46.84 | 35.5 % |
| Operating Income | (84.52) | (163.11) | (93.0 %) |
| Net Income | (141.00) | (887.56) | (529.5 %) |
| Average Shares | 114.77 | 114.77 | - |
| EPS (Riyals) | (1.23) | (7.73) | (529.5 %) |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 1,289.78 | 1,085.03 | (15.9 %) |
| Gross Income | 258.24 | 46.84 | (81.9 %) |
| Operating Income | 102.14 | (163.11) | (259.7 %) |
| Net Income | 34.47 | (887.56) | (2674.6 %) |
| Average Shares | 114.77 | 114.77 | - |
| EPS (Riyals) | 0.30 | (7.73) | (2674.6 %) |
The losses were attributed to a decline of 1.6% in FY2020 revenue, due to the implementation of a portfolio optimization strategy and the temporary closure of the company’s retail units as a result of the COVID-19 pandemic.
Depreciation and amortization expenses also increased to SAR 295.5 million in FY2020, up 1.9% or SAR 5.6 million compared to a year earlier.
Impairments also rose to SAR 242.5 million in the same fiscal year from SAR 2.6 million in FY2019 as the company recorded a one-time asset impairment following a reappraisal of legacy assets.
Finance costs also increased to SAR 451.5 million in FY2020, up by 124.7% or SAR 250.6 million on an annual basis.
In Q4, the fashion retailer incurred net losses of SAR 912.51 million.
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