United Electronics Company (Extra) announces the Estimated financial results for the period ending on 30-9-2019 (Nine Months)

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	1,035	894.8	15.668	1,161.5	-10.891
Gross Profit (Loss)	184.7	172.2	7.259	226.5	-18.454
Operational Profit (Loss)	27	34.1	-20.821	72.4	-62.707
Net Profit (Loss) after Zakat and Tax	27.2	30.9	-11.974	72.5	-62.482
Total Comprehensive Income	27.2	30.9	-11.974	72.4	-62.43
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	3,255	2,775	17.297
Gross Profit (Loss)	599.1	510.2	17.424
Operational Profit (Loss)	126.9	110.7	14.634
Net Profit (Loss) after Zakat and Tax	133.5	98.1	36.085
Total Comprehensive Income	133.5	98.1	36.085
Total Share Holders Equity (after Deducting Minority Equity)	587.1	579.7	1.276
Profit (Loss) per Share	2.67	1.96
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 company Achieved a net profit of SR 27.2m vs. SR 30.9m for the SPLY. The drop in Net profit resulted from the early booking of SR 10.1m in consumer finance revenue due to securitization deal with Al Rajhi bank, which had a positive impact on Q2 2019 results with a total value of SR 17.2m (announced on 27th of June, 2019). Furthermore, the net profit has been negatively affected by SR 9.2m as a result of the Increase in operating expenses caused by commencing the operations of United Company for Financial Services (a fully owned subsidiary), which started its operations by end of Q2 2019 after securing SAMA's approval. Finally, Q3 2019 net profit has a none recurring income worth of SR 4.5m resulting from accruing for the expected gains on the settlement for Jeddah store fire incident (the final financial impact of the fire incident of Jeddah store will be announced upon collection of full amount of insurance claim)
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to	The company Achieved a net profit of SR 27.2m vs. SR 72.5m for pervious quarter, due to lower sales vs. previous quarter, which led to a lower gross profit. Furthermore, the securitization deal with Al Rajhi Bank had a positive impact on Q2 2019 results by SR 17.2m, while Q3 2019 was negatively impacted by SR 10.1m, as a result of early booking for the revenue of the sold portion.
Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to	The company Achieved a net profit of SR 133.5m for the period ended 30th of Sep-2019, vs. a net profit of SR 98.1m for the SPLY. Total revenue increased by 17.3% Vs. SPLY as a result of LFL sales growth, e-commerce sales growth, increase in after sales service and installment sales, in addition to, opening 4 new stores through 2019, which led to an increase of gross profit by 17.4% vs. SPLY. It is worth mentioning that, the net profit increased by 36% vs. SPLY, despite the higher selling and admin expenses on top of reported losses for the new subsidiary worth SR 19.5m for the year.
Basis of the External Auditor's Opinion	Unmodified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion	These estimated financial results for the period ended 30 Sept. 2019 are prepared by the management of the Company and these results are not reviewed by the external auditors

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