| Element List |
Explanation |
| Introduction |
Further to the company’s announcement published on Tadawul's website on 10/07/1445 corresponding to 22/01/2024 regarding receiving a notification letter from Saudi Aramco about changes in fuel products prices that used in the company’s activities, the company would like to clarify the expected financial impact. |
| Date of Posting the Previous Announcement of Development on Saudi Exchange’s Website |
2024-01-22 Corresponding to 1445-07-10 |
| Hyperlink to the Previous Announcement |
Click Here |
| Change on the Development |
The company announces its enrollment to the Industrial Sector Competitiveness Program, by signing a program agreement that includes providing several solutions that helps raising the efficiency and quality of energy sources used in industrial facilities, the program will contribute to reduce the company’s production costs. Accordingly, the financial impact on the increase in the production cost will be reduced to approximately 23% (the increase in the production’s cost will be 10% instead of 13%) as a result of singing the agreement. The company would like to confirm that it will seek during the upcoming period to explore additional ways to raise production efficiency and reduce costs. |
| Financial Impact on the change |
The financial impact of the cost increasing will decrease by approximately 23% (the increase in the production’s cost will be 10% instead of 13%) starting from 01/01/2024 instead of 13% |
| Additional Information |
There is no |
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