| Element List |
Explanation |
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to |
The decrease in net profit during the current quarter compared to the same prior year quarter is mainly attributable to higher purchased power costs and provisions, this has been partially offset by the decrease in fuel costs and general and administrative expenses. |
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to |
The increase in net profit during the current quarter compared to previous the quarter of the current year is mainly attributable to higher operating revenues due to sales seasonality, this in addition to lower general and administrative expenses. |
| Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to |
Reported net losses in the current period compared to a profit in the same prior year period is mainly driven by non-recurring items: first) recording of a settlement of fuel dues differences to Saudi Armco relates to the supply of light fuel oil rather than heavy fuel oil to one of the Company’s power plants, second) a change in the sales mix towards higher residential and lower commercial and governmental consumption during corona virus “Covid-19” pandemic lockdown period. This in addition to higher purchased power costs, higher finance charges and higher provisions. |
| Basis of the External Auditor's Opinion |
Unmodified opinion |
| Reclassification of Comparison Items |
Null |
Comments