Sadr Logistics Co. announces its Interim Financial results for the Period Ending on 2024-06-30 ( Six Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	21,280	17,198	23.735	31,647	-32.758
Gross Profit (Loss)	3,776	2,512	50.318	4,787	-21.119
Operational Profit (Loss)	-2,177	-2,568	-15.225	-1,032	110.949
Net profit (Loss)	-3,766	-2,388	57.705	-1,540	144.545
Total Comprehensive Income	-3,766	-2,388	57.705	-1,540	144.545
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	52,926	58,013	-8.768
Gross Profit (Loss)	8,563	10,350	-17.265
Operational Profit (Loss)	-3,209	551	-
Net profit (Loss)	-5,306	899	-
Total Comprehensive Income	-5,306	899	-
Total Shareholders Equity (after Deducting Minority Equity)	166,424	177,131	-6.044
Profit (Loss) per Share	-0.03	0.01
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Amount	Percentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value	-	-
Accumulated Losses	-10,097	5.77
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is	Revenues increased during the current quarter compared to the same quarter of the previous year by 24% as a result of:

1. Increase in sales of the wood sector by 51% due to an increase in sales volumes and prices.

2. Increase in revenues of the logistics services sector by 44% due to an increase in storage prices and volumes.

3. Increase in sales of other sectors.

Despite:

- The decrease in revenues of the iron sector by 9% due to a decrease in sales volumes.The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is Net loss increased during the current quarter compared to the net loss during the same quarter of the previous year due to:

1. Increase in cost of revenues, but at a rate lower than the increase in sales.

2. Increase in selling and marketing expenses, as well as increase in general and administrative expenses.

3. Decrease in other income and decrease in investment profits due to the investment of cash funds in the company's expansions in the logistics services sector.

4. Increase in financing costs.The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is Sales decreased during the current quarter compared to the previous quarter by 33% due to:

1. Decrease in revenues of the iron sector by 41% due to a decrease in sales volumes.

2. Decrease in sales of the wood sector by 43% due to a decrease in sales volumes.

3. Decrease in revenues of the logistics services sector by 16% due to a decrease in storage volumes.

Despite the increase in sales of other sectors.

Overall, the sales of the second quarter of 2024 were affected by the holiday season, which led to a decrease in sales in the company's main sectors.The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is Net loss increased during the current quarter compared to the net loss during the previous quarter due to:

1. Decrease in sales by 33%.

2. Increase in general and administrative expenses and increase in financing costs.

3. Decrease in other income and investment income.

4. Increase in zakat provision.

Despite:

1. Decrease in cost of sales by a higher percentage than the decrease in sales, as it decreased by 35%.

2. Decrease in selling and marketing expenses, but at a lower rate than the decrease in sales.The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is Sales decreased during the current period compared to the previous period by 9% due to:

- Decrease in sales of the wood sector by 41% due to lower sales volumes.

Despite:

1. Increase in revenues of the iron sector by 12% due to higher sales volumes.

2. Increase in revenues of the logistics services sector by 35% due to higher storage volumes and prices.

3. Increase in sales of other sectors as well.The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is The company recorded a net loss during the current period compared to net profits during the same period of the previous year due to:

1. Decrease in sales by 9% and a decrease in cost of sales by a lower percentage than the decrease in sales, as it decreased by 7%.

2. Increase in selling and marketing expenses, increase in general and administrative expenses, and increase in financing costs.

3. Decrease in other income and decrease in investment profits.

4. Increase in zakat provision.Statement of the type of external auditor's report Unmodified conclusionComment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) NothingReclassification of Comparison Items Certain comparative figures have been re-presented and classified to conform to the presentation for the current period.Additional Information The basic and diluted share of profit and loss for the current period and the similar period of the previous year was calculated by dividing the net profit or loss for each period after zakat attributable to the company’s shareholders by the weighted average number of ordinary shares outstanding at the end of each period, as the weighted average of shares for the current period was 175,000,000 Shares and the number of shares for the same period of the previous year is 175,000,000 shares after taking into account the effect of the increase in shares as a result of the retrospective share division.

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