Report
EUR 236.14 For Business Accounts Only

Resistance came to an end

During the last quarter of the year, Zamil’s revenues declined by 17.6% to SAR1.199bn, bringing revenues recorded since the beginning of the year to SAR4.950bn, i.e. a 9.8% yoy deterioration. The gross margin improved by 86 bps due to lower cost of sales on the back of a slowing activity. However, the operating profit decreased by 18% to stand at SAR336.4m. The net result shrunk by 23.6%, amounting to SAR201.022m.
Underlying
Zamil Industrial Investment Company

Zamil Industrial Investment is an industrial manufacturing group based in the Kingdom of Saudi Arabia. Co. and its subsidiaries are engaged in manufacturing and erecting steel buildings, transmission line towers and structural steel products; manufacturing and assembling room and central air conditioners and other related activities; and production glass and mirrors. Co.'s operations are organized along three main business sectors: Zamil Air Conditioners, Zamil Steel Industries and Zamil Glass Industries. Co. operates predominantly in Saudi Arabia.

Provider
AlphaMena Corporate Services
AlphaMena Corporate Services

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.

Analysts
Fatma HADDAD

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