Saudi Industrial Export Co. (SIECO) reported net loss after Zakat and tax of SAR 12.6 million for FY2019, versus net profit of SAR 6.4 million a year earlier, driven by fierce competition and soft demand in the global markets, lower sales volumes and higher general expenses.
SIECO narrowed Q4 2019 net losses by 55.7% year-on-year (YoY) to SAR 2.7 million.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 118.27 | 68.24 | (42.3 %) |
| Gross Income | 1.02 | (14.15) | (1484.2 %) |
| Operating Income | (7.51) | (24.03) | (220.2 %) |
| Net Income | 6.43 | (26.01) | (504.7 %) |
| Average Shares | 16.31 | 16.31 | - |
| EPS (Riyals) | 0.39 | (1.60) | (504.7 %) |
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 26.51 | 22.33 | (15.8 %) |
| Gross Income | (2.72) | (11.27) | (315.2 %) |
| Operating Income | (5.83) | (15.23) | (161.1 %) |
| Net Income | (6.13) | (16.13) | (163.3 %) |
| Average Shares | 16.31 | 16.31 | - |
| EPS (Riyals) | (0.38) | (0.99) | (163.3 %) |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 21.77 | 22.33 | 2.6 % |
| Gross Income | (3.41) | (11.27) | (230.9 %) |
| Operating Income | (4.91) | (15.23) | (210.2 %) |
| Net Income | 1.98 | (16.13) | (914.0 %) |
| Average Shares | 16.31 | 16.31 | - |
| EPS (Riyals) | 0.12 | (0.99) | (914.0 %) |
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