Alandalus Property Co. announces its Consolidated Interim Financial Results for the Period Ending on 2020-09-30 ( Nine Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	36.98	42.72	-13.436	31.45	17.583
Gross Profit (Loss)	17.02	24.08	-29.318	18.23	-6.637
Operational Profit (Loss)	11.74	26.05	-54.932	-3.26	-
Net Profit (Loss) after Zakat and Tax	3.13	14.59	-78.546	-6.48	-
Total Comprehensive Income	3.13	14.59	-78.546	-6.48	-
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	110.37	125.03	-11.725
Gross Profit (Loss)	58.57	71.27	-17.819
Operational Profit (Loss)	31.08	80.56	-61.42
Net Profit (Loss) after Zakat and Tax	8.89	49.99	-82.216
Total Comprehensive Income	8.89	49.99	-82.216
Total Share Holders Equity (after Deducting Minority Equity)	1,047.97	1,094.78	-4.275
Profit (Loss) per Share	0.13	0.71
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	Main reasons for the decrease in net profit attributable to the shareholders of the company are attributed:

• Decrease in revenue due to making a provision for discounts for malls tenants because of repercussions of (COVID 19 pandemic), which led to a decrease in gross profit.

• Decrease in the company's share of income from associates also affected by discounts provision for their malls and commercial centers tenants.

• Impairment loss on investment property.

• Higher Finance cost compared to the same quarter, due to funding the acquisition of a new office complex in Riyadh at end of June 2020.Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to Main reasons for increase the net profit for the third Quarter 2020 compared to net losses occurred in the previous quarter attributed:

• increase in office sector revenue represented by the new office complex in Riyadh which was acquired at the end of June 2020.

• Impairment loss on PP&E and investment property was recorded as 20 million in the previous quarter, while in current it is recorded only as 1.5 million.Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to Main reasons for the decrease in net profit attributable to the shareholders of the company are attributed as:

• The decrease in revenue of retail and hospitality sectors due to making a provision for discounts for tenants because of repercussions of COVID19 Pandemic despite the increase of office sector revenue.

• Decrease in the company's share of income from associates.

• Impairment loss on PP&E and investment property amounting 21.5 million.

• Higher Finance cost compared to the same period, due to funding the acquisition of an office complex in Riyadh at the end of June 2020Basis of the External Auditor's Opinion Unmodified opinionReclassification of Comparison Items Certain prior period figures have been reclassified to conform with the presentation in the current periodAdditional Information Revenue has decreased during the current period compared to the same period as a result of the decrease in the retail sector revenue by about 22% due to making a provision for discount for tenants because of repercussions of COVID19 Pandemic, and the hospitality sector revenue also decreased by approximately 46% because of very low occupancy rates compared to previous year for same period. Foregoing reasons have led to decreased in overall revenues for the group despite increase in office sector revenue represented by the office towers in Jeddah and new office complex in Riyadh which was acquired at the end of June 2020.Attached Documents

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