| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 3,900.7 | 3,567 | 9.36 | ||
| Gross Profit (Loss) | 225.9 | 364.5 | -38.02 | ||
| Operational Profit (Loss) | -22.2 | 413.9 | - | ||
| Net profit (Loss) | 102.8 | 201.6 | -49.01 | ||
| Total Comprehensive Income | -18.9 | 61.6 | - | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 9,654.2 | 9,676.6 | -0.23 | ||
| Profit (Loss) per Share | 0.15 | 0.3 | |||
| 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 year compared to the last year | Increase in revenue is mainly due to the consolidation of one of the joint ventures (Saudi Acrylic Polymers Company "SAPCO"), which the Group acquired in December 2023. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Decrease in net profit is primarily attributable to lower share of profit from investments in joint ventures due to decrease in sales volumes for certain products, in addition to increase in cost of sales, distribution and general administrative expenses, higher impairment of non-financial assets and lower other income, despite increase in revenue, gain on business combinations resulted from the acquisition of a joint venture and lower zakat charge. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Comment 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/A |
| Reclassification of Comparison Items | Certain corresponding figures for the comparative year have been revised to account for the measurement period adjustments related to the acquisition of one of the joint ventures (Saudi Acrylic Polymers Company "SAPCO") and an associate, in line with the applicable accounting standards. |
| Additional Information | - As a condition for the restructuring and refinancing of acrylic debts, the Group took control of a joint venture, Saudi Acrylic Monomers Company "SAMCO," by acquiring 25% of its shares on 31 December 2024, making it a wholly-owned subsidiary. This acquisition was recognized at the provisional fair values of the assets acquired and liabilities assumed as of the acquisition date. The effects of this transaction are detailed in Note 45.1 of the Group's consolidated financial statements for the year ending 31 December 2024. Subsequent to the year-end, the Group successfully completed the acrylic debt restructuring and refinancing, as announced on Tadawul on 19 February 2025, and the associated impact will be reflected in the Group's consolidated financial statements for the first quarter of 2025. |
- Several zakat assessments were finalized during the year, resulting in re-measurement of zakat provisions and reduction in zakat charge in 2024.
- As disclosed under Note 45 in the Group's consolidated financial statements for the year ended 31 December 2023, published on Tadawul on 04 March 2024, the Group acquired one of the joint ventures (Saudi Acrylic Polymers Company "SAPCO") and an associate, as part of the acrylic restructuring. Consequently, both entities are consolidated in the Group's consolidated financial statements from the acquisition date of 05 December 2023, resulting in variances compared to the previous year.
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.