Methanol Chemicals 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	169.04	189.66	-10.872	183.27	-7.764
Gross Profit (Loss)	24.53	29.68	-17.351	21.53	13.934
Operational Profit (Loss)	-19.34	-3.18	508.176	-16.88	14.573
Net profit (Loss)	-28.28	-10.19	177.526	-24.48	15.522
Total Comprehensive Income	-28.28	-10.19	177.526	-24.48	15.522
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	352.31	375.08	-6.07
Gross Profit (Loss)	46.36	32.61	42.164
Operational Profit (Loss)	-35.91	-44.31	-18.957
Net profit (Loss)	-52.5	-59.03	-11.062
Total Comprehensive Income	-52.5	-59.03	-11.062
Total Shareholders Equity (after Deducting Minority Equity)	988.05	1,040.56	-5.046
Profit (Loss) per Share	-0.78	-0.88
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Amount	Percentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value	-	-
All figures are in (Millions) 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	The reason for the decrease in revenue of 11% during the current quarter compared to the same quarter of the last year is mainly due to a drop in average selling prices by 8% and selling quantities by 3%.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	The reason for the increase in losses during the current quarter compared to the loss in the same quarter of last year is due to a drop in average selling prices by 8% and sales quantities by 3% even though the average raw material prices reduced by 10%.

Further, the feedstock (Natural Gas) prices increased by 40% at the beginning of the year which has contributed to the increase in losses during the current quarter as compared to the previous quarter.The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is The reason for the decrease in revenue of 8% during the current quarter compared to the previous quarter is mainly due to a drop in average selling quantities by 13% despite an increase in average selling prices by 6%.The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is The reason for the increase in losses during the current quarter compared to the previous quarter is mainly due to the drop in selling quantities of 13% despite an increase in the average selling prices by 6%.The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is The reason for the decrease in revenue by 6% during the current period compared to the same period of the last year is mainly due to a drop in average selling prices by 19% even though the quantities have increased by 16%.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 reason for the decrease in losses of 6% during the current period compared to the same period of the last year is mainly due to an increase in sales quantities by 16% and a drop in average raw material prices by 21% even though feedstock (Natural Gas) price increased by 40% at the beginning of the year.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) N/AReclassification of Comparison Items N/AAdditional Information The Company presented its first condensed consolidated interim financial statements from Q1 2024 onwards.

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