Tabuk Cement Co. announces its Interim Financial Results for the Period Ending on 2020-03-31 ( Three Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	75.42	52.77	42.922	66.28	13.789
Gross Profit (Loss)	17.53	12.83	36.632	14.01	25.124
Operational Profit (Loss)	11.55	8	44.375	5.41	113.493
Net Profit (Loss) after Zakat and Tax	28.91	3.63	696.418	6.55	341.374
Total Comprehensive Income	28.91	3.63	696.418	8.46	241.725
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Total Share Holders Equity (after Deducting Minority Equity)	1,216.41	1,165.03	4.41
Profit (Loss) per Share	0.32	0.04
All figures are in (Millions) Saudi Arabia, Riyals

	Accumulated Losses	Capital	Percentage %
	7,791,265	900,000,000	0.87
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to	The reason for the increase in profits during the current quarter compared to the same quarter of the previous year is due to:

1. Gains from adjusting cash flows for a financial liability (loan).

2. Increase in revenues due to increase in sales quantities.

3. Decrease in financing cost.

4. Decrease in selling and marketing cost.Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to The reason for the increase in profits during the current quarter compared to the previous quarter is due to:

1. Gains from adjusting cash flows for a financial liability (loan).

2. Increase in revenues due to increase in sales quantities.

3. Decrease in financing cost.Basis of the External Auditor's Opinion Unmodified opinionReclassification of Comparison Items Some comparative figures have been reclassified to fit the current view.Additional Information As announced before, the company signed an agreement to reschedule the existing financial commitment (loan) with Bank Albilad to be subject to a six-month SIBOR profit rate and a fixed rate of 1.25% annually instead of 2.5%, and is payable in quarterly installments of SAR 15.9 million for each installment, the last installment will be paid on March 13, 2026 AD instead of February 2024 AD. As a result of rescheduling the loan and amending the conditions, the company performed a 10% test of the loan commitment in accordance with the requirements of IFRS 9 Financial Instruments. From this test, the effect of the amendment gains amounted to SAR 22,758,671, and this amount represents the difference between the current value of the loan in accordance with the terms before the amendment and the present value of future cash payments in accordance with the terms of the amendment of the loan that was renegotiated and modified, which was deducted at the original effective profit rate of the loan, and since the percentage difference is less than 10%, the amendment in the terms is not considered essential and is not accounted for as disposal of the loan and prove a new financial commitment, and accordingly the difference has been proven as gains from the impact of the amendment as per disclusure No 9 in our financial statements .

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