Alandalus Property Co. announces its Interim Financial Results for the Period Ending on 2021-09-30 ( Nine Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	55.44	36.98	49.918	52.36	5.882
Gross Profit (Loss)	37.43	17.02	119.917	35.52	5.377
Operational Profit (Loss)	33.32	11.74	183.816	31.92	4.385
Net Profit (Loss) after Zakat and Tax	19.37	3.13	518.849	19.23	0.728
Total Comprehensive Income	19.37	3.13	518.849	19.23	0.728
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	158.34	110.37	43.462
Gross Profit (Loss)	106.56	58.57	81.936
Operational Profit (Loss)	98.03	31.08	215.411
Net Profit (Loss) after Zakat and Tax	57.55	8.89	547.356
Total Comprehensive Income	57.55	8.89	547.356
Total Share Holders Equity (after Deducting Minority Equity)	1,075.73	1,047.97	2.648
Profit (Loss) per Share	0.62	0.1
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	The reason for the increase in net profit attributable to the shareholders of the company mainly attributed to:

• The increase in gross profit as a result of the increase in revenue for retail and office sectors as well as the decrease of cost of revenue of hospitality sector.

• the increase in the company's share of income of associates.

• Impairment loss on Assets in the same quarter of the previous year.

Net profit increased despite the increase in general expenses.The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is The reason for the slightly increase in net profit attributable to the shareholders of the company mainly to the increase in operating profit as a result of the increase in revenue for retail sector, despite the increase of Zakat compared to 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 The reason for the increase in net profit attributable to the shareholders of the company mainly attributed to:

• The increase in gross profit as a result of the increase in revenue for retail and office sectors.

• Impairment loss on Assets amounting to 21.5 million in the same period of the previous year.

• the increase in the company's share of income of associates, in addition to the increase of other revenue.

Net profit increased despite the increase in General expenses and Finance cost.Statement of the type of external auditor's report Unmodified conclusionReclassification of Comparison Items Certain prior period figures have been reclassified to conform with the presentation in the current periodAdditional Information Revenue have increased during the current period by 43% amounting to 158.3 million, compared to 110.4 million for the same period of the previous year. This increase mainly as a result of a 41% increase in the retail sector’s revenues as a result of provision for discounts for tenants in 2020, and the office sector, which increased by 70% due to the acquisition of the office building in Riyadh.

As a result, the gross profit increased by 82% to 106.6 million during the current half, compared to 58.6 million during the same half of the previous year.

On 25 August 2021, the extraordinary general meeting approved to increase the share capital from SR 700 million to 933.3 million through the issuance of bonus shares at the rate of one share for every three shares, using retained earnings and statutory reserves.

Basic and diluted earnings per share is calculated by dividing the profit for the period attributable to the shareholders of the company by the weighted average number of ordinary shares outstanding during the period, Accordingly, the earnings per share for the comparative period were adjusted by adjusting the weighted average number of ordinary shares.

For more information, please refer to Note No. 1 and 12 in the interim financial statements for the third quarter of 2021.

The Condensed consolidated financial statements for the period ended 30th September 2021 will be available on Al-Andalus Property Website.

As well as the Investor Presentation for the same period will be available on Al-Andalus Property website and application within the Investors relations section under investors presentations.

http://www.alandalus.com.saAttached Documents

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.