Saudi Electricity Co. announces its interim consolidated condensed Financial results for the period ending on 2020-03-31 ( Three Months )

03 May 2020 09:36 AM

SAUDI ELECTRICITY 5110 12.54% 19.92 2.22

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	11,398	11,395	0.026	16,294	-30.047
Gross Profit (Loss)	-1,179	-636	85.377	1,180	-
Operational Profit (Loss)	-1,272	-594	114.141	1,343	-
Net Profit (Loss) after Zakat and Tax	-2,441	-1,489	63.935	-591	313.028
Total Comprehensive Income	-2,888	-1,626	77.613	-932	209.871
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)	70,682	72,051	-1.9
Profit (Loss) per Share	-0.59	-0.36
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to	The increase in net losses during the current quarter compared with the same prior year quarter is mainly attributable to higher purchased power expenses and finance charges, In addition the quarter of the previous year was affected by reversing the provisions
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to	The increase in net losses during the current quarter compared to the fourth quarter of last year is mainly due to sales seasonality, in addition to the increase of SAR 1.1 billion in other operating revenue during the fourth quarter of last year which arrived from the approval and activation of the balancing account of the electricity sector on the fiscal year 2019.
Basis of the External Auditor's Opinion	Unmodified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion	Null
Reclassification of Comparison Items	Null
Additional Information	Null

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