Aseer Trading, Tourism and Manufacturing Co. announces its Annual Financial Results for the Period Ending on 2021-12-31

Element List	Current Year	Previous Year	%Change
Sales/Revenue	1,711.3	1,569.6	9.027
Gross Profit (Loss)	439.4	450.2	-2.398
Operational Profit (Loss)	22.1	28.2	-21.631
Net Profit (Loss) after Zakat and Tax	-63.5	-48.5	30.927
Total Comprehensive Income	21.5	-29.3	-
Total Share Holders Equity (after Deducting Minority Equity)	1,401.8	1,380.3	1.557
Profit (Loss) per Share	-0.5	-0.38
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current year compared to the last year is	The reason behind the increase in net loss is mainly due to the reduction in gross profit and operational profit if compared with the previous year and it has resulted mainly from the increase in loss from investments as well as the increase in selling and distribution and income tax expenses.
Statement of the type of external auditor's report	Unmodified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion	We draw the attention to note number (13) in the attached consolidated financial statements, which states that during December 2019 the company has filed a couple of lawsuits against the north Riyadh land - Alkhier district seller and the broker to repay the land price as well as the brokerage amount back to the company. During November 2020, a ruling obligating the seller to repay an amount of SAR 202 million to the company (buyer). However, the defendant appealed during December 2021, which was accepted and cancelled the previous ruling. The company then, reappealed and during February 2022, that the General Department for large cases of the General Court in Riyadh has issued a preliminary ruling in the favor of the company to terminate the land sale contract and obligate the seller to repay an amount of SAR 202 million to the company (buyer).

This is not a qualified opinion. Reclassification of Comparison Items Some previous year’s figures were reclassified in order to conform with this year’s presentation. For more information, please refer to note number 34 of the consolidated financial statements for the year 2021. Additional Information - As of 31-12-2021, accumulated losses reached Sar 40.1 Million, which represents 3% of the company’s Sar 1236.9 Million capital.

- On December 2021, the board have decided to use part of the statutory reserve amounting to Sar 92,417,116 to reduce the accumulated losses representing 7.31% of the company’s capital according to the financial statements as of 30-09-2021.

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