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Arabtec reported a decrease in its revenue by 7% qoq to AED2bn, but it is still performing better than 2015 with a 9M revenue of AED6bn, 17% higher than the same period last year.After gaining some ground in the past 2 quarters with low, but positive gross profit in Q1 and Q2, Arabtec back in red territory in Q3 to AED-101m as of 30/09/2016 (-2% margin in 9M 2016).
EBITDA, as computed by AlphaMena, was also negative at AED-168m in Q3 and AED-242m in 9M, but still better than before (AED-913m and AED-1.6bn in Q3 2015 and 9M 2015, respectively).
On the bottom line side, the Company posted a net loss of AED-281m in Q3 compared to a net loss of AED-1bn for the same period last year. On a cumulative term, Arabtec also did better than last year, recording a net loss of AED-458m in 9M-2016 vs. AED-1.9bn last year.
AlphaMena is the MENA stocks leader in independent equity research, covering 142. MENA securities spanning across 19 sectors and 8 countries relaying on a team of 11 analysts. The breadth of coverage allows AlphaMena to formulate a coherent view on markets, sectors and to highlight the best investments in Mena zone using a robust homogeneous and transparent methodology, enabling pure and pertinent comparisons based on financial and extra-financial criteria.
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