Saudi Arabian Mining Company (Ma’aden) announces its interim financial results for the period ending on 31-03-2022 (3 months)
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 8,914,080,601 | 5,449,766,121 | 63.568 | 8,519,269,766 | 4.634 |
| Gross Profit (Loss) | 3,884,064,010 | 1,436,396,161 | 170.403 | 3,394,195,919 | 14.432 |
| Operational Profit (Loss) | 3,262,379,305 | 1,046,980,355 | 211.598 | 2,881,583,002 | 13.214 |
| Net Profit (Loss) after Zakat and Tax | 2,171,921,874 | 761,155,755 | 185.345 | 2,090,176,577 | 3.91 |
| Total Comprehensive Income | 2,275,177,734 | 795,258,285 | 186.092 | 2,147,984,002 | 5.921 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (after Deducting Minority Equity) | 37,923,804,337 | 31,040,982,996 | 22.173 |
| Profit (Loss) per Share | 1.76 | 0.62 | |
| All figures are in (Actual) 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 reasons for the increase in net profit during the current quarter compared to the same quarter of the last year is:
• Higher average realized sales prices of all products except industrial mineral products; • Higher net profit of joint ventures attributable to Ma’aden; • Higher income from time deposits; and • Lower finance cost by 5%.
This increase in net profit is partially offset by: • Lower sales volume mainly from primary aluminum, gold, flat rolled products, ammonia phosphate fertilizer and alumina, despite higher sales volume of ammonia resulting from commissioning activities of Ammonia Project 3; and • Higher costs (cost of sales by 25%, selling, marketing and logistic expenses by 94%, general and administrative expenses by 50%, exploration and technical services expenses by 13% and zakat and income tax expense by 189%). |
| 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 reasons for the increase in net profit during the current quarter compared to the previous quarter is:
• Higher average realized sales prices of all products except alumina; • Higher income from time deposits; and • Lower costs (cost of sales by 2%, exploration and technical services expenses by 4%, finance cost by 2%).
This increase in net profit is partially offset by: • Lower sales volume mainly from ammonia phosphate fertilizer, primary aluminum, alumina and gold, despite higher sales volume of ammonia resulting from commissioning activities of Ammonia Project 3; and • Lower net profit of joint ventures attributable to Ma’aden; and • Higher costs (selling, marketing and logistic expenses by 20%, general and administrative expenses by 25%, and zakat and income tax expense by 75%). |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | N/A |
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