2060 · 07/05/2023 08:53:22 · Announcement #73428 · View on Saudi Exchange

National Industrialization Co. announces its Interim Financial Results for the Period Ending on 2023-03-31 ( Three Months )

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 888.7979.2-9.24939.5-5.41
Gross Profit (Loss) 115288.2-60.1186.9-38.47
Operational Profit (Loss) 161.5543.2-70.2735.5354.93
Net Profit (Loss) after Zakat and Tax 82.1309-73.4343.190.49
Total Comprehensive Income 89.3721.3-87.6288.41.02
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Total Share Holders Equity (after Deducting Minority Equity) 9,704.39,423.32.98
Profit (Loss) per Share 0.120.46
All figures are in (Millions) Saudi Arabia, Riyals
Element ListExplanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is Decrease in net profit is primarily attributable to lower average selling prices of most of the products resulting in decrease in revenue and share of profit from investments in associates and joint ventures, higher cost of sales and impairment of financial assets, despite increase in sales volume of certain products, higher other income and lower net finance costs.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is Increase in net profit is primarily attributable to increase in share of profit from investments in associates and joint ventures due to higher sales volumes and improved average selling prices of most of the petrochemical products, decrease in impairment of assets and zakat provisions, despite decrease in sales revenue due to lower average selling prices of certain products and other income as well as higher general administrative expenses and net finance costs.
Statement of the type of external auditor's report Unmodified conclusion
Reclassification of Comparison Items None

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