United Electronics Company (Extra) announces the Estimated financial results for the period ending 31-12-2019 (Twelve Months)

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	1,881	1,619	16.182	1,035	81.739
Gross Profit (Loss)	300.1	269	11.561	185.7	61.604
Operational Profit (Loss)	91.4	69.3	31.89	37.5	143.733
Net Profit (Loss) after Zakat and Tax	72.3	63.1	14.58	27.2	165.808
Total Comprehensive Income	71.2	64.3	10.73	27.2	161.764
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	5,135	4,394	16.863
Gross Profit (Loss)	900.2	779.6	15.469
Operational Profit (Loss)	248.7	180	38.166
Net Profit (Loss) after Zakat and Tax	205.8	161.2	27.667
Total Comprehensive Income	204.8	162.4	26.108
Total Share Holders Equity (after Deducting Minority Equity)	660	645.6	2.23
Profit (Loss) per Share	4.12	3.22
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 net profit of SR 72.3m vs. SR 63.1m for SPLY. The growth in net profit resulted from sales increase across all company's divisions in general, and this years' Mega Sale festival in particular, In addition to higher eXtra Services & consumer finance services revenues, Which led to an increase of company's gross margin by 11.4% vs. SPLY. leading to increase in the company net profit by 14.6% despite the following: 1) The drop resulted from the early booking of SR 7.6m 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). 2)Higher operating expenses.
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to	The Company achieved net profit of SR 72.3m vs. SR 27.2m for last quarter. The growth in net profit resulted from sales increase across all company's divisions in general, and through this years' Mega Sale festival particularly, In addition to higher eXtra Services & consumer finance services revenues, Which led to an increase of company's gross margin. Leading to increase in the company net profit
Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to	The company achieved net profit of SR 205.8m for the period ended 31st of Dec-2019, the highest since company's inception, vs. a net profit of 161.2 for SPLY. Company's Total revenue exceeded SR 5bn for 2019, achieving growth of 16.9% vs. SPLY. As a result of LFL sales growth, e-commerce sales growth, increase in eXtra Services & consumer finance services revenues, in addition to, opening 4 new stores through 2019, which led to in crease in gross profit by 15.5% vs. SPLY. it is worth noting that, the net profit increased by 27.7% vs. SPLY.
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 31 Dec. 2019 are prepared by the management of the Company and these results are not reviewed by the external auditors
Additional Information	It is worth noting that shareholders' equity increased by 15.2% after excluding the financial impact of adoption of IFRS 16 as of 1st of January 2019, which resulted a decrease in retained earnings by SR 84m

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