United Electronics Company (Extra) announces the Estimated financial results for the period ending on 31 December 2022 (Twelve Months)

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	1,546.58	1,767.41	-12.49	1,372.71	12.67
Gross Profit (Loss)	350.83	353.48	-0.75	300.21	16.86
Operational Profit (Loss)	134.43	146.65	-8.33	102.88	30.67
Net Profit (Loss) after Zakat and Tax	121.33	126.14	-3.81	94.16	28.86
Total Comprehensive Income	121.34	127.29	-4.67	94.16	28.86
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	6,030.8	5,833.63	3.38
Gross Profit (Loss)	1,261.3	1,183.65	6.56
Operational Profit (Loss)	475.3	452.83	4.96
Net Profit (Loss) after Zakat and Tax	440.2	396.83	10.93
Total Comprehensive Income	440.34	398	10.64
Total Share Holders Equity (after Deducting Minority Equity)	1,139.31	992.56	14.79
Profit (Loss) per Share	5.5	4.96
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	Net profit totaled SR 121.3m vs. SR 126.1m for same quarter last year, as Total Company's revenue dropped by 12.5% vs. same quarter last year. This mainly impacted by shifting of the Annual "Mega Sale" discount festival to Q2 this year instead of Q4. However, supported by consumer finance revenue growth and sales mix enhancement in the retail sector, the Company's gross profit dropped only by 0.7% vs. same quarter last year to register SR 350.8m vs. SR 353.5m for same quarter last year. Which had effect on the Company's net profit to drop only by 3.8% vs. same quarter last year, despite of increasing in company's SG&A. It's worth noting that United Company for Financial Services achieved net profit of SR 49.5m vs. SR 47.7m for same quarter of last year, that register growth of 3.7%.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is	Net profit totaled SR 121.3m vs. SR 94.2m for previous quarter due to increase of sales of all sectors in Q4 generally, in addition to increase of extra services revenue and consumer finance revenue, which led to increase in gross profit & net profit for the current quarter vs. previous quarter.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	Net profit totaled SR 440.2m, the highest in its history vs. SR 396.8m for same period last year, as the Company's revenue grew by 3.4% vs. same period last year. However, supported by higher consumer finance and eXtra services revenus, the gross profit grew by 6.6% to register SR 1,261.3m vs. SR 1,183.7m, which impacted the Compnay's net profit growth by 10.9% vs. same period last year., despite of year on year increase in SG&A. it's worth noting that United Company for Financial Services achieved net profit growth of 50.4% to register net profit of SR 193.6m vs. SR 128.7m for same period last year.
Statement of the type of external auditor's report	Unmodified conclusion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion	These estimated financial results for the period ended on 31 Dec. 2022 are prepared by the management of the Company and these results are not reviewed by the external auditors
Reclassification of Comparison Items	None
Additional Information	The Company's EPS has been adjusted after the capital increase, which has been approved by the extraordinary general assembly which held on 5th of Oct-2022

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