Zamil Industrial Investment Co. reported a net loss of SAR 51.9 million in Q1 2022, versus a net profit of SAR 5.2 million in the prior-year period.
| Item | Q1 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 949.18 | 896.80 | (5.5 %) |
| Gross Income | 138.03 | 104.21 | (24.5 %) |
| Operating Income | 18.38 | (27.45) | (249.3 %) |
| Net Income | 5.20 | (51.92) | (1098.5 %) |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.09 | (0.87) | (1098.5 %) |
| Item | Q4 2021 | Q1 2022 | Change |
|---|---|---|---|
| Revenues | 900.20 | 896.80 | (0.4 %) |
| Gross Income | 81.53 | 104.21 | 27.8 % |
| Operating Income | (157.88) | (27.45) | 82.6 % |
| Net Income | (172.54) | (51.92) | 69.9 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | (2.88) | (0.87) | 69.9 % |
The losses were attributed to lower sales in the AC and insulation segments, fall in gross profit and operating margins across all segments, and higher financial charges. In addition, the company reported an increase in credit loss and zakat provisions.
On a quarterly basis, net loss narrowed from SAR 172.5 million in Q4 2021.
Total shareholders’ equity, excluding minority interest, stood at SAR 905.951 million in Q1 2022, compared to SAR 1.138 billion in the year-earlier period.
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