Tabuk Cement Co. announces its Interim Financial results for the Period Ending on 2024-06-30 ( Six Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	85.44	58.38	46.351	87.05	-1.849
Gross Profit (Loss)	29.31	14.96	95.922	22.77	28.722
Operational Profit (Loss)	21.03	7.67	174.185	19.96	5.36
Net profit (Loss)	31.34	9.97	214.343	16.11	94.537
Total Comprehensive Income	26.53	10.37	155.834	15.17	74.884
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	172.48	144.66	19.231
Gross Profit (Loss)	52.08	45.57	14.285
Operational Profit (Loss)	35.67	30.35	17.528
Net profit (Loss)	47.45	29.31	61.89
Total Comprehensive Income	41.69	28.74	45.059
Total Shareholders Equity (after Deducting Minority Equity)	1,310.64	1,306.78	0.295
Profit (Loss) per Share	0.53	0.33
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	-	-
Accumulated Losses	-	-
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is	The reason for increase in sales/revenue during the current quarter compared to the sales/revenue for the same quarter of the previous year is due to:

1. Increase in sales quantities .The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is The reason for increase in net profit during the current quarter compared to the net profit for the same quarter of the previous year is due to:

1. Increase in sales value & quantities .

2. Increase in other income .The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is The reason for decrease in sales/revenue during the current quarter compared to the sales/revenue for the previous quarter is due to:

1. Decrease in sales quantities .The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is The reason for increase in net profit during the current quarter compared to the net profit for the previous quarter is due to:

1. Increase in average selling price .

2. Increase in other income .The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is The reason for increase in sales/revenue during the current period compared to the sales/revenue for the previous period is due to:

1. Increase in sales quantities .The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is The reason for increase in net profit during the current period compared to the sales/revenue for the previous period is due to:

1. Increase in sales value & quantities .

2. Increase in other income .Statement of the type of external auditor's report Unmodified conclusionComment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) Other Matter:

The interim condensed financial statements of the Company for the three and six months period ended 30

June 2023, excluding the adjustments described in Note 18 to the interim condensed financial statements,

were reviewed by another auditor who expressed an unmodified conclusion on those interim condensed

financial statements on 8 August 2023 and the financial statements of the Company for the year ended 31

December 2023 were audited by another auditor who expressed an unmodified opinion on those financial

statements on 28 March 2024 .Reclassification of Comparison Items Certain comparative figuers for the previous year have been reclassified to be consistent with the clasification in the current year . RESTATEMENT OF PRIOR PERIOD ERRORS :

a) Fair Value adjustment in respect of the interest rate swaps, designated as cash flow hedging instrument against the risks associated with interest rate fluctuations as of the period ending 30th June 2023, was not recorded by the Company erroneously, have been corrected now by recognizing the adjustment for fair value loss of SR 576,606 in cash flow hedge reserve under OCI for 6 months ending 30th June 2023 and the gain of SR 403,522 in cash flow hedge reserve under OCI for 3 months ending 30 June 2023 ( note 18 ) .

b) During the month of March 2024 and before approving the company’s financial statements as of December 31, 2023, the Zakat, Income and Customs Authority completed its examination for the years from 2019 to 2022, which resulted in zakat differences amounting to 4,731,427 Saudi Riyals. The company recorded this erroneously by adjusting the opening balance of retained earnings as of January 1, 2023. The company corrected the error by reversing the impact in retained earnings as of January 1, 2023, and the company recognized the increasing difference as a change in the estimate arising in the fourth quarter of the fiscal year ending December 31, 2023 ( note 18 ) .Additional Information -

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