reports
Keeping a lid on its costs
Takween’s Q1 2016 revenues dropped by 15.9% yoy to SAR352.669m. The cost of sales recorded a considerable decline by 24.60%, leading the beginning of the year to be profitable: the company’s net result is positive at SAR5.028m, compared with a SAR15.486m loss in Q1 2015, and more importantly, a loss amounting to SAR37.734m in Q4 2015.
New investment: A double-edged sword
Takween has been through the toughest quarter in the year. Although revenues grew significantly compared with Q4 2014 (+88.8% including external growth after the acquisition of Savola's plastic unit), their rhythm has been slowed down compared with the previous quarters (+141.4% in Q1 2015, +130% in Q2 2015 and +136% in Q3 2015), leading the sales recorded in 2015 to rise by 123.85% yoy, at SAR1718.467M. For the first time in the last eight years, the net result is negative, moving from SAR55.32...
Takween did not enjoy the oil price decline!
During Q3 2015, Takween has recorded a considerable sales increase: +136% compared to Q3 2014, leading the revenues to grow by the same rate since the beginning of the year, compared to the same period in 2014. However, the net income did not follow the same trend as the sales. It has become negative, moving from SAR19.450M in Q3 2014 to SAR-2.273M in Q3 2015, leading the net income to decline by 82% since the beginning of the year, compared to the beginning of 2014.
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