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Alujain Corp. announces its Interim Financial results for the Period Ending on 2024-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 478.21 | 397.06 | 20.437 | 175.37 | 172.686 |
| Gross Profit (Loss) | 79.25 | 43.64 | 81.599 | 22.79 | 247.74 |
| Operational Profit (Loss) | 34.49 | 10.42 | 230.998 | -24.66 | - |
| Net profit (Loss) | 5.62 | -20.88 | - | -66.72 | - |
| Total Comprehensive Income | 5.62 | -20.88 | - | -66.73 | - |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (After Deducting the Minority Equity) | 3,012.94 | 2,560.29 | 17.679 |
| Profit (Loss) per Share | 0.08 | -0.42 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Percentage of the capital (%) | Amount | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | The reason of the increase in the revenues is due to the higher sales quantities by 23% |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The main reason for the increase in the net profits during the current quarter as compared to the same quarter of last year is due to increase in sales quantities by 23% and decrease in propane prices by 9.7% |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The reason of the increase in the revenues is due to the higher sales quantities by 175% |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The reason for the increase in the net profits during the current quarter compared to the fourth quarter of 2023 is due to Increase in quantities sold by 175% and decrease in propane prices by 2.4% |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | Emphasis of Matter We draw attention to note (18) to the accompanying interim condensed consolidated financial statements, which discloses material restatements made to the period ended March 31, 2023 and its opening balance January 01, 2023. These restatements arose due to the valuation of goodwill and customer relationships. |
| Reclassification of Comparison Items | Certain comparative figures have been reclassified and adjusted to conform to the current period, including amending some items from what was announced for the same quarter of the last year |
| Additional Information | - The company operational profit is SR 34.49 million for the current quarter - The difference between net profit and operating profit is due to non-operating expenses (SR 14 million amortization on customer relationship (intangible assets) and SR 16 million financing cost - More than SR 282 million have been invested in developing the new project for Alujain during the year 2023, and it is expected that the Front-End Engineering Design phase will be completed during the first half of 2024 and starting the execution in the 2nd half of the year. NATPET results (For 1st quarter 2024): 1. NATPET reported sales during the current quarter amounted to SR 478 million: - As compared to sales of SR 391 million for the same quarter of the previous year with an increase of 22%, The main reason of the increase is due to the higher sales quantities by 23%. - As compared to sales of SR 175 million for the previous quarter, with an increase of 173%, The main reason of the increase is due to the higher sales quantities by 175%. 2. NATPET’s net profit for the current quarter is SR 43.5 million: - As compared to net profit of SR 12.7 million for the same quarter of the previous year with an increase of 241%, The main reason of the increase is due to increase in selling quantities by 23% and decrease in propane prices by 9.7%. - As compared to net loss of SR 9.9 million for the previous quarter, The main reason for the increase is due to due to increase in quantities sold by 175% and decrease in propane prices by 2.4%. 4. Total shareholders’ equity of NATPET at the end of the current period amounted to SR 2,383 million compared to SR 3,171 million at the end of the same period of the previous year. This decrease is due to the cash dividend and dividend in kind paid during 2023 for NATPET Shareholders. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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