Al Abdullatif Industrial Investment Co. announces its Annual Financial results for the period ending on 2023-12-31

Element List	Current Year	Previous Year	%Change
Sales/Revenue	522.61	647.5	-19.29
Gross Profit (Loss)	-10.85	7.44	-
Operational Profit (Loss)	-40.34	-32.72	23.29
Net profit (Loss)	-74.79	-57.87	29.24
Total Comprehensive Income	-80.32	186.57	-
Total Share Holders Equity (After Deducting the Minority Equity)	1,201.15	1,281.48	-6.27
Profit (Loss) per Share	-0.92	-0.71
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	Sales revenue decreased by almost 19% predominantly due to demand suppression in European & other markets as a result of geopolitical situation, increase in intense competition , coupled with reduction in capacity utilisation as the company was undergoing some BMR (Balancing, Modernisation & Replacement) of its production facilities that has started coming into effect during later part of Q4 of year 2023. It is expected that the effect of capacity building will continue to post positive impact on sales revenue during subsequent periods.
The reason of the increase (decrease) in the net profit during the current year compared to the last year is	The reasons for incurring gross losses and increase in operating losses and net losses during this year compared to the previous year are due to the sharp decrease in sales and increase in the cost of sales attributed to sales in addition to an increase in general and administration expenses and the increase in financing cost.

Element List

Explanation

The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year

Sales revenue decreased by almost 19% predominantly due to demand suppression in European & other markets as a result of geopolitical situation, increase in intense competition , coupled with reduction in capacity utilisation as the company was undergoing some BMR (Balancing, Modernisation & Replacement) of its production facilities that has started coming into effect during later part of Q4 of year 2023. It is expected that the effect of capacity building will continue to post positive impact on sales revenue during subsequent periods.

The reason of the increase (decrease) in the net profit during the current year compared to the last year is

The reasons for incurring gross losses and increase in operating losses and net losses during this year compared to the previous year are due to the sharp decrease in sales and increase in the cost of sales attributed to sales in addition to an increase in general and administration expenses and the increase in financing cost.

The reasons for incurring losses in comprehensive income are due to incurring loss in property revaluation and investments revaluation with fair value. 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) not exist. Reclassification of Comparison Items Certain comparative figures have been reclassified to conform with the presentation in the current period. Additional Information 1 - There are no minority rights in the financial statements.

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