Emaar The Economic City announces its interim Financial results for the period ending on 2018-09-30 ( Nine Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 112 | 269 | -58.364 | 244 | -54.098 |
| Total Profit (Loss) | -14 | 106 | - | 105 | - |
| Profit (Loss) Operational | -150 | 7 | - | -50 | 200 |
| Net Profit (Loss) after Zakat and Tax | -150 | 27 | - | -49 | 206.122 |
| Total Comprehensive Income | -135 | 27 | - | -45 | 200 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 637 | 810 | -21.358 |
| Total Profit (Loss) | 187 | 359 | -47.91 |
| Profit (Loss) Operational | -222 | 5 | - |
| Net Profit (Loss) after Zakat and Tax | -196 | 43 | - |
| Total Comprehensive Income | -177 | 43 | - |
| Total Share Holders Equity (after deducting minority equity) | 7,835 | 7,842 | -0.089 |
| Profit (Loss) per Share | -0.23 | 0.05 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Accumulated Losses | Capital | Percentage % | |
|---|---|---|---|
| 676,609,000 | 8,500,000,000 | 8 |
| Element List | Explanation |
|---|---|
| Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year | Reason for loss in current quarter vs profit in last year's comparable quarter: '- Profit in the corresponding quarter was higher, primarily due to higher industrial land sales and higher progress made on industrial land projects as compared to the current quarter. Moreover, loss on new operating assets during current quarter has also led to the gross loss for current quarter. - Decrease in other income and share of income from a joint venture. - Increase in depreciation, marketing and administrative expenses. - Increase in Zakat and impairment loss - Gain on revaluation of Interest rate swap arrangement made by an investee. |
| Reason for increase (decrease) in net profit for current quarter compared to the previous quarter | Reason for increase in loss of the current quarter vs the last quarter - Change in infrastructure cost estimates of industrial and residential projects resulted in gross profit during the previous quarter as compared to the current quarter. - Decrease in marketing and administrative expenses. - Increase in gain on revaluation of Interest rate swap arrangement made by an investee. |
| Reason for increase (decrease) in net profit for current period compared to the similar period of the previous year | Reason for increase in loss of the current period YTD vs the last YTD period: GP in the corresponding period was higher primarily due to higher industrial land sales and higher progress made on the industrial land projects as compared to the current period. Moreover, loss on new operating assets during current period has also led to the gross loss for current period. - Increase in administrative, selling and marketing expenses (mainly due to launch of new projects and certain CSR activities) resulted in a decrease in operating profit for the current period. |
| Type of the external auditor's opinion | Unmodified opinion |
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