| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 3,673.1 | 2,271.8 | 61.682 | ||
| Gross Profit (Loss) | 987 | 329.8 | 199.272 | ||
| Operational Profit (Loss) | 2,515.1 | -9.8 | - | ||
| Net Profit (Loss) after Zakat and Tax | 1,356.4 | -446.7 | - | ||
| Total Comprehensive Income | 1,432.4 | -556.9 | - | ||
| Total Share Holders Equity (after Deducting Minority Equity) | 8,702.1 | 7,269.7 | 19.703 | ||
| Profit (Loss) per Share | 2.03 | -0.67 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The Company attained net profit compared to net loss reported in prior year, mainly due to the surge in average selling prices of all the products also resulting in higher share of profit from investments in associates and joint ventures, reversal of an impairment charge on investment in an associate “Tronox” amounting to SR 693 million (Tasnee share SR 547 million) due to consistently higher share prices above the carrying value, reduction in financial costs and increase in other income, despite of increase in prices of certain feedstocks, higher zakat provisions and recording provision for impairment of loans amounting to SR 466 million (Tasnee share SR 417 million) given to a joint venture Advanced Toho Titanium Metal Co. (ATTM) in Yanbu and provision for impairment of non-current assets amounting to SR 180 million (Tasnee share SR 161 million) related to a subsidiary Advanced Metal Industries Cluster Co. (AMIC) due to continued delay in commencing commercial production of Slagger plant in Jizan |
| Statement of the type of external auditor's report | Unmodified opinion |
| Reclassification of Comparison Items | Certain corresponding figures for the comparative year have been re-classified for the purpose of better presentation in conformity with the current year. |
| Additional Information | Covid-19 pandemic had no material adverse effect on financial results for the year ended 31 December 2021 and the management was able to prudently manage the business without any material disruptions. The management will continue to assess the impact based on prospective developments. |
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