SIDC losses widen to SAR 21.8 mln in 9M 2023; Q3 at SAR 11.5 mln

07/11/2023 Argaam Exclusive
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Saudi Industrial Development Co.’s (SIDC) net losses widened to SAR 21.8 million in the first nine months of 2023 from SAR 19 million in the year-earlier period, due to higher operating losses from recording impairment of assets.



Financials (M)

Item 9m 2022 9m 2023 Change‬
Revenues 121.22 120.81 (0.3 %)
Gross Income 17.96 23.29 29.7 %
Operating Income (21.55) (23.96) (11.2 %)
Net Income (19.04) (21.83) (14.7 %)
Average Shares 13.50 13.50 -
Earnings Per Share before unusual items (1.41) (1.62) (14.7 %)
EPS (Riyals) (1.41) (1.62) (14.7 %)

Net losses widened 50.2% year-on-year to SAR 11.5 million in Q3 2023 on higher operating expenses.



Current Quarter Comparison (M)

Compared With The
Item Q3 2022 Q3 2023 Change‬
Revenues 38.40 35.46 (7.6 %)
Gross Income 5.73 5.49 (4.3 %)
Operating Income (8.49) (11.69) (37.8 %)
Net Income (7.66) (11.50) (50.2 %)
Average Shares 13.50 13.50 -
Earnings Per Share before unusual items (0.57) (0.85) (50.2 %)
EPS (Riyals) (0.57) (0.85) (50.2 %)

Sequentially, Q3 losses deepened from SAR 9.67 million.

 

Shareholders’ equity, after minority interest, reached SAR 149.83 million by the end of 9M 2023, compared to SAR 194.7 million in the year-ago period.

 

Accumulated losses amounted to SAR 84.24 million as of Sept. 30, 2023, representing 21.06% of the company’s capital.

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Share Price

Saudi Industrial Development Co.
27.90
(0.25) (0.89 %)

Saudi Industrial Development Co. (SIDC)

1 Day (0.89 %) 5 Days 4.69 % 3 Months (4.12 %) 6 Months (9.27 %) Year (25.80 %) 2 Years (12.39 %) 5 Years 40.01 % All (29.04 %)
Created with Highstock 6.0.710:1010:3010:4011:0011:2011:4012:0012:1012:3012:5013:1013:3013:5014:1014:2014:4014:5015:1080.0080.5081.0081.5082.0082.5083.0083.50
Close : 80.50 | Apr 3, 15:16
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Financial Ratios
Current
Market Cap (M Riyal) 376.65
Enterprise Value (EV) (M) 399.50
Shares Outstanding ((M)) 13.50
EPS ( Riyal) (TTM) (5.38)
Book Value (BV) ( Riyal) 5.36
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 5.21
Return on Average Assets (%) (TTM) (33.17 )
Return on Average Equity (%) (TTM) (65.43 )
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