Takween turns to SAR 19 mln profit in 2021, Q4 loss widens to SAR 31.3 mln

23/02/2022 Argaam Exclusive

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Takween Advanced Industries Co.
12.54
0.00 0.00 %

Takween Advanced Industries Co. (TAKWEEN)

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Takween Advanced Industries Co. reported a net profit after Zakat and tax of SAR 19 million for 2021, versus net loss of SAR 6 million in year-earlier period.



Financials (M)

Item 2020 2021 Change‬
Revenues 754.18 838.56 11.2 %
Gross Income 57.41 51.92 (9.6 %)
Operating Income (31.87) (60.27) (89.1 %)
Net Income (6.01) 19.03 416.4 %
Average Shares 57.86 57.86 -
EPS (Riyals) (0.10) 0.33 416.4 %

This was driven by higher profit share from associates, improved revenue, and subdued financial charges, despite higher cost of revenue.

 

Total shareholders equity excluding minority rights rose 3.2% year-on-year (YoY) to SAR 606.968 million for 2021.



Current Quarter Comparison (M)

Compared With The
Item Q4 2020 Q4 2021 Change‬
Revenues 171.66 207.74 21.0 %
Gross Income 0.25 4.04 1498.0 %
Operating Income (15.85) (29.42) (85.7 %)
Net Income (3.40) (31.34) (823.2 %)
Average Shares 57.86 57.86 -
EPS (Riyals) (0.06) (0.54) (823.2 %)

Takween widened net loss to SAR 31.3 million for Q4 2021, from SAR 3.40 million in Q4 2020.

 

On a sequential basis, the company turned to losses in Q4 2021, versus SAR 40.34 million profit in Q3 2021.

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