Bawan has sufficient liquidity, access to financing
Bawan Co. said that the COVID-19 pandemic has no significant impact on the group’s financial performance. The group has sufficient liquidity and access to financing facilities to continue to meet its financial obligations for the foreseeable future as and when they become due.
Bawan’s strategy is based on strengthening relationship with existing customers and continuing to improve operations, the company added in its Q1 2022 earnings presentation. The strategy also focuses on investing in new products, expanding product capacity, enhancing existing products and pursuing selective acquisitions.
On revenue, the company added that its metals and wood segment accounted for the largest share in revenue with SAR 618.8 million. The engineering industries came in second place, accounting for SAR 179.6 million, followed by the plastics and concrete segments with SAR 94.7 million and SAR 57.3 million, respectively.
Bawan’s total assets reached SAR 2.382 billion in Q1 2022.