Saudi Industrial Export Co. announces its Interim Financial Results for the Period Ending on 2023-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 4.33 | 0.06 | 7,116.67 | 0.09 | 4,711.11 |
| Gross Profit (Loss) | 0.33 | 0.06 | 450 | 0.09 | 266.67 |
| Operational Profit (Loss) | -2.14 | -4.73 | -54.76 | -4.91 | -56.41 |
| Net Profit (Loss) after Zakat and Tax | -1.72 | -4.88 | -64.75 | -2.95 | -41.69 |
| Total Comprehensive Income | -1.72 | -4.88 | -64.75 | -2.84 | -39.44 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (after Deducting Minority Equity) | 158.3 | 8.08 | 1,859.16 |
| Profit (Loss) per Share | -0.09 | -1.12 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Accumulated Losses | Capital | Percentage % | |
|---|---|---|---|
| -37.21 | 194.4 | -19.14 | |
| 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 decrease in net loss compared to the same quarter of the previous year 2022 is a result of the company's increased sales and the decrease in provision for other debit balances compared to the same quarter of the previous year 2022. Additionally, the company made profits from its investments by utilizing a portion of its cash liquidity, even though administrative expenses increased. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is | The decrease in the net loss in the current quarter of 2023 AD compared to the previous quarter of 2022 AD can be attributed to an increase in sales and an increase in the value of the market investments, which had decreased in the previous quarter of 2022, even though administrative expenses increased. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | Some figures for the previous period have been reclassified to conform to the presentation of the current period. |
| Additional Information | For the current period of 2023, the loss per share has been calculated based on the weighted average number of shares, which is 19,400,000.
For the corresponding period of the previous year 2022, the loss per share is calculated based on the weighted average number of shares, which is 4,368,000 shares. The weighted average shares were calculated based on the approval of the Extraordinary General Assembly on 02-15-2022 AD to reduce the company's capital from sixty-four million eight hundred thousand riyals (64,800,000 riyals) to twenty-one million six hundred thousand riyals (21,600,000 riyals), at a rate of 66.66%, 43,200,000 shares were written off. In the current period ending 31 March 2023, the company's accumulated losses totaled 37,211,964 riyals, representing 19.14% of the company's capital, which was 194,400,000 riyals. In the previous period ending 31 March 2022, the company accumulated losses totaled 14,515,340 riyals, representing a loss of 67.20%. After the reduction, the company's capital amounted to 21,600,000 riyals. |
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