National Industrialization Co. announces its Interim Financial Results for the Period Ending on 2022-06-30 ( Six Months )

04 August 2022 08:02 AM

Default Company 2060.O 0.00% 0.00 0.00

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	1,077.1	780.4	38.02	979.2	10
Gross Profit (Loss)	259.1	219.4	18.09	288.2	-10.1
Operational Profit (Loss)	563.2	608.7	-7.47	543.2	3.68
Net Profit (Loss) after Zakat and Tax	297.1	356.7	-16.71	309	-3.85
Total Comprehensive Income	107.5	441.6	-75.66	721.3	-85.1
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	2,056.3	1,505.8	36.56
Gross Profit (Loss)	547.3	406	34.8
Operational Profit (Loss)	1,106.3	1,170.6	-5.49
Net Profit (Loss) after Zakat and Tax	606.1	684.3	-11.43
Total Comprehensive Income	828.7	783.4	5.78
Total Share Holders Equity (after Deducting Minority Equity)	9,530.8	8,053.1	18.35
Profit (Loss) per Share	0.91	1.02
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	Decrease in net profit is primarily attributable to decrease in share of profit from investments in joint ventures mainly resulting from higher average feedstock and logistics costs and lower average selling prices for some of the products in addition to increase in Zakat provisions and financial charges, despite increase in revenue due to improved average selling prices of downstream products and sales volume of certain products, lower general and admin expenses and higher other income.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is	Decrease in net profit is primarily attributable to increase in raw material costs, financial charges and Zakat provisions despite increase in average selling prices and sales volumes of certain products, higher other income and increase in share of profit from investments in associates.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	Decrease in net profit is primarily attributable to decrease in share of profit from investments in joint ventures mainly resulting from higher average feedstock and logistics costs and lower average selling prices for some of the products, despite increase in revenue due to improved average selling prices of downstream products and sales volume of certain products, lower general and admin expenses and higher other income.
Statement of the type of external auditor's report	Unmodified conclusion
Reclassification of Comparison Items	None

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