Zamil Industrial Investment Co. reported a net loss after Zakat and tax of SAR 80.9 million in H1 2022, compared to a net profit after Zakat and tax of SAR 12.3 million in the prior-year period.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Revenues | 1,796.60 | 1,854.00 | 3.2 % |
| Gross Income | 270.08 | 222.04 | (17.8 %) |
| Operating Income | 33.50 | (29.89) | (189.2 %) |
| Net Income | 12.27 | (80.91) | (759.7 %) |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.20 | (1.35) | (759.7 %) |
The losses were driven by lower gross profit and operating margin in the air conditioner and steel segments, as well as higher financial charges, a decline in earnings from associate companies and a drop in other income.
The company swung to a net loss of SAR 29 million, versus a net profit of SAR 7.1 million in Q2 2021.
Sequentially, net loss narrowed from SAR 51.9 million in Q1 2022.
| Item | Q2 2021 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 847.42 | 957.21 | 13.0 % |
| Gross Income | 132.05 | 117.84 | (10.8 %) |
| Operating Income | 15.12 | (2.43) | (116.1 %) |
| Net Income | 7.07 | (28.99) | (510.3 %) |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.12 | (0.48) | (510.3 %) |
| Item | Q1 2022 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 896.80 | 957.21 | 6.7 % |
| Gross Income | 104.21 | 117.84 | 13.1 % |
| Operating Income | (27.45) | (2.43) | 91.1 % |
| Net Income | (51.92) | (28.99) | 44.2 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | (0.87) | (0.48) | 44.2 % |
Total shareholders’ equity, excluding minority interest, stood at SAR 872.578 million by the end of June 2022, compared to SAR 1.144 billion in the year-earlier period.
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