| Element List | Explanation |
|---|---|
| Introduction | Further to the company's announcement published on Tadawul website on 02-01-2025 regarding the receipt of a notice from the Saudi Arabian Oil Company (Saudi Aramco) to amend the prices of fuel products used in production, the company would like to clarify the expected financial impact after joining the Industrial Sector Competitiveness Program, which will reduce the cost of fuel products used in the company's factories. |
| Date of Posting the Previous Announcement of Development on Saudi Exchange’s Website | 2025-01-02 Corresponding to 1446-07-02 |
| Hyperlink to the Previous Announcement | Click Here |
| Change on the Development | The company announces its accession to the Industrial Sector Competitiveness Program, based on which the company signed an agreement with the program that includes providing several solutions that help raise the efficiency and type of energy sources used in industrial facilities, as the program will contribute to reducing production costs. Therefore, the financial impact on the increase in the cost of production decreased by approximately 1%, The company would like to emphasize that it will work during the coming period to explore additional ways to raise production efficiency and reduce costs. |
| Financial Impact on the change | Modifying the financial impact ratio from 7% to approximately 6% in total cost according to the company's latest audited annual financial statements for the year 2024, and this impact is expected to appear starting from the first quarter of 2025. |
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