Saudi Arabian Mining Co.(Ma'aden) announces its interim Financial results for the period ending on 2019-06-30 ( Six Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	4,300,512,763	3,416,480,792	25.875	4,241,341,540	1.395
Total Profit (Loss)	515,128,514	1,240,433,705	-58.471	492,961,513	4.496
Profit (Loss) Operational	192,670,622	1,045,442,133	-81.57	251,828,646	-23.491
Net Profit (Loss) after Zakat and Tax	-243,667,410	517,760,803	-	127,211,672	-
Total Comprehensive Income	-362,836,801	517,760,803	-	147,084,473	-
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	8,541,854,303	6,982,603,199	22.33
Total Profit (Loss)	1,008,090,027	2,617,242,716	-61.482
Profit (Loss) Operational	444,499,268	2,217,847,993	-79.958
Net Profit (Loss) after Zakat and Tax	-370,879,082	1,155,925,615	-
Total Comprehensive Income	-509,921,274	1,155,925,615	-
Total Share Holders Equity (after deducting minority equity)	28,177,532,088	27,252,164,637	3.395
Profit (Loss) per Share	-0.31	0.98
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Explanation
Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year	Due to the decrease in average realized prices of all products except gold, a decrease in the sales volume of aluminium and gold and also a decrease in share of net profit of the joint venture (SAMAPCO) despite an increase in sales volume of ammonia phosphate fertilizer, ammonia, alumina and flat rolled products and an increase in income from time deposits.

Also the commencement of commercial operations of Ma’aden Wa’ad Al-Shamal Phosphate Company and Ma’aden Rolling Company in December 2018 affected the results for this quarter resulting in the increase in cost of sales by 74% due to increase in volume sold and an increase in input cost, an increase in selling, marketing and logistic expenses by 143%, general and administrative expenses by 13% and finance cost by 67%. Reason for increase (decrease) in net profit for current quarter compared to the previous quarter Due to the decrease in average realized prices of all products except gold, a decrease in the sales volume of ammonia and also a decrease in share of net profit of the joint venture (SAMAPCO) despite an increase in sales volume of all other products.

Also a slight increase in cost of sales and an increase in selling, marketing and logistics expenses by 42% due to increase in sales volume of all products excepts ammonia, an increase in general and administrative expenses by 22%, exploration and technical services expenses by 40% and finance cost by 7% affected the results for this quarter. Reason for increase (decrease) in net profit for current period compared to the similar period of the previous year Due to the decrease in average realized prices of all products and also a decrease in the sales volume of aluminium and gold despite an increase in sales volume of all other products, an increase in income from time deposits and an increase in share of net profit of the joint venture (Maaden Barrick Copper Company).

Also the commencement of commercial operations of Ma’aden Wa’ad Al-Shamal Phosphate Company and Ma’aden Rolling Company in December 2018 affected the results for this period resulting in increase in cost of sales by 73% due to increase in volume sold and an increase in input cost, an increase in selling, marketing and logistic expenses by 88%, general and administrative expenses by 12% and finance cost by 68%. Type of the external auditor's opinion Unmodified opinion Reclassifications in quarter financial result Certain comparative figures of the previous quarter / period / year have been reclassified, wherever necessary, to conform with the current quarter / period presentation. Such reclassifications did not affect either the net worth or the net profit of the Group for the previous quarter / period / year. Additional Information The Company applied IFRS 16 with a date of initial application of 1 January 2019. The initial application resulted in recognition of an estimated additional SR 1.350 billion of right-of-use assets, estimated additional SR 1.350 billion of lease liabilities. Although the application of IFRS 16 did not have a material impact on consolidated statement of profit or loss

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