Takween Advanced Industries Co. narrowed net loss after Zakat and tax to SAR 2.6 million for the first nine months of 2020, from SAR 54.4 million in the year-earlier period, driven by lower general and administrative (G&A) expenses and financing fees.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 937.29 | 582.51 | (37.9 %) |
| Gross Income | 80.47 | 57.16 | (29.0 %) |
| Operating Income | (18.46) | (15.94) | 13.7 % |
| Net Income | (54.35) | (2.62) | 95.2 % |
| Average Shares | 57.86 | 57.86 | - |
| EPS (Riyals) | (0.94) | (0.05) | 95.2 % |
The Q3 2020 net profit after Zakat and tax stood at SAR 6.1 million, versus a net loss of SAR 28.77 million in the same period last year, backed by lower cost of sales, decreased selling and marketing expenses and a decline in financing fees.
On a sequential basis, Q3 2020 net profit dropped 38.7%.
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 314.67 | 183.34 | (41.7 %) |
| Gross Income | 16.75 | 17.91 | 6.9 % |
| Operating Income | (15.20) | (8.90) | 41.4 % |
| Net Income | (28.77) | 6.14 | 121.4 % |
| Average Shares | 57.86 | 57.86 | - |
| EPS (Riyals) | (0.50) | 0.11 | 121.4 % |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 198.54 | 183.34 | (7.7 %) |
| Gross Income | 20.36 | 17.91 | (12.0 %) |
| Operating Income | (1.46) | (8.90) | (509.1 %) |
| Net Income | 10.03 | 6.14 | (38.8 %) |
| Average Shares | 57.86 | 57.86 | - |
| EPS (Riyals) | 0.17 | 0.11 | (38.8 %) |
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