Saudi Industrial Development Co. (SIDC) widened net losses after Zakat and tax to SAR 11.8 million for the first nine months of 2021, from SAR 2.7 million in the year-ago period due to an increase in operating expenses (OPEX).
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 121.55 | 124.88 | 2.7 % |
| Gross Income | 27.17 | 19.37 | (28.7 %) |
| Operating Income | (3.52) | (13.74) | (290.5 %) |
| Net Income | (2.71) | (11.80) | (335.4 %) |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.07) | (0.30) | (335.4 %) |
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 39.67 | 37.40 | (5.7 %) |
| Gross Income | 8.24 | 4.22 | (48.7 %) |
| Operating Income | (2.21) | (7.29) | (229.4 %) |
| Net Income | (1.36) | (5.74) | (323.1 %) |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.03) | (0.14) | (323.1 %) |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 41.94 | 37.40 | (10.8 %) |
| Gross Income | 8.39 | 4.22 | (49.7 %) |
| Operating Income | (4.19) | (7.29) | (73.8 %) |
| Net Income | (4.32) | (5.74) | (32.9 %) |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.11) | (0.14) | (32.9 %) |
In Q3 2021, the company deepened net losses after Zakat and tax of SAR 5.7 million, from SAR 1.4 million in the year-earlier period.
On a sequential basis, net losses widened from SAR 4.3 million in Q2 2021.
Total shareholders’ equity, excluding minority interest, fell marginally to SAR 217.3 million as of Sept. 30, 2021, from SAR 217.7 billion in the year-earlier period.
Accumulated losses reached SAR 34.7 million in the nine-month period, accounting for 8.7% of the company’s capital.
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