Saudi Arabian Amiantit Co. widened its net loss after Zakat and tax to SAR 389.4 million for 2020, from SAR 338.5 million a year earlier.
The company attributed the increased losses a 43.5% drop year-on-year (YoY) in sales, amid the COVID-19 pandemic outbreak. The company also allocated SAR 113.17 million provisions in 2020 and reported an increase in Zakat provisions by SAR 23.8 million.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 780.41 | 441.02 | (43.5 %) |
| Gross Income | (146.51) | (65.15) | 55.5 % |
| Operating Income | (247.51) | (153.41) | 38.0 % |
| Net Income | (338.48) | (389.35) | (15.0 %) |
| Average Shares | 30.25 | 30.25 | - |
| EPS (Riyals) | (11.19) | (12.87) | (15.0 %) |
Amiantit’s net losses widened to SAR 145.3 million in Q4 2020 from SAR 37.39 million in prior-year period.
Shareholders’ equity, excluding minority interest, fell by 55.9% to SAR 148.579 million in 2020, from SAR 337.268 million a year earlier.
Amiantit’s accumulated losses reached SAR 205.5 million representing 64.22 % of capital by the end of 2020.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 197.45 | 79.83 | (59.6 %) |
| Gross Income | 23.35 | (38.09) | (263.1 %) |
| Operating Income | 3.96 | (60.42) | (1627.8 %) |
| Net Income | (37.39) | (145.26) | (288.5 %) |
| Average Shares | 30.25 | 30.25 | - |
| EPS (Riyals) | (1.24) | (4.80) | (288.5 %) |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 115.97 | 79.83 | (31.2 %) |
| Gross Income | (6.24) | (38.09) | (510.7 %) |
| Operating Income | (26.97) | (60.42) | (124.1 %) |
| Net Income | (55.50) | (145.26) | (161.7 %) |
| Average Shares | 30.25 | 30.25 | - |
| EPS (Riyals) | (1.83) | (4.80) | (161.7 %) |
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