Earnings Report /
Saudi Arabia

Alothaim: Lowest quarterly net profits on record since Q3 16

  • Revenue increased by 10.1% yoy (-8.0% qoq) to SAR2.0bn, coming in-line with our estimates

  • Gross margins contracted by 267bps yoy to 20.0% in Q3 21, coming lower than our estimates of 21.0%

  • Opex in absolute terms increased by 2.8% yoy to reach SAR344mn in Q3 21 compared to our estimates of SAR248mn

SNB Capital
10 November 2021
Published by