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National Shipping Company of Saudi Arabia 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 | 2,313.08 | 2,375.22 | -2.616 | 2,023.44 | 14.314 |
| Gross Profit (Loss) | 663.09 | 615.24 | 7.777 | 516.43 | 28.398 |
| Operational Profit (Loss) | 625.96 | 597.43 | 4.775 | 556.49 | 12.483 |
| Net profit (Loss) | 452.93 | 492.49 | -8.032 | 401.23 | 12.885 |
| Total Comprehensive Income | 453.03 | 492.62 | -8.036 | 385.51 | 17.514 |
| 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) | 12,291.6 | 10,983.77 | 11.906 |
| Profit (Loss) per Share | 0.61 | 0.67 | |
| 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 main reason for the decrease in revenue during the current quarter compared with same quarter of last year is: -The decrease in revenue of some sectors, especially Oil transportation sector whose revenue decreased by an amount of SAR 121 million, due to the drop of operation activities during the current quarter compared with same quarter last year, while the Chemicals transportation sector revenues increased by SAR 82 million due to increase in the operation activities and shipping rates for this sector during current quarter compared with same quarter last year. |
| 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 decrease in net profit during the current quarter compared to the same quarter of last year is: -The decrease in net profits in the Company’s share in results of equity accounted investee companies by an amount of SAR 67 during the current quarter compared with the same quarter of last year. -The decrease in the logistics sector gross profit with an amount of SAR 60 million due to the drop of operation activities during the current quarter compared with same quarter last year. While limiting the decrease in net profits, the increase in the gross profit by an amount of SAR 48 million due to improvement of the operation activities of some sectors during the current quarter compared with same quarter of last year. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The main reason for the increase in revenue in the current quarter compared with previous quarter is: The increase in revenue of multiple sectors, especially Oil transportation sector whose revenue increased by an amount of SAR 295 million and increase in revenue of Chemicals transportation sector by an amount SAR 81 million due to the increase in operation activities and shipping rates for those sectors in the current quarter compared with previous quarter. While the revenues of the logistic sector decreased by an amount of SAR 99 million in the current quarter compared with the previous quarter. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The main reason for the increase in net profit in the current quarter compared with previous quarter is: -The increase in gross profit by an amount of SAR 147 million due to the improvement of operations performance in multiple sectors of the Group, where the Oil transportation sector gross profit increased by an amount of SAR 115 million, and Chemicals transportation sector by SAR 94 million during the current quarter compared with previous quarter, while the logistics sector revenue decreased by SAR 61 million. -The decrease in general administration expenses by an amount of SAR 39 million during the current quarter compared with the previous quarter. While the followings have limited the increase in net profits: -The decrease in other income by an amount of SAR 115 compared with the previous quarter, due to the realized capital gain from sale of vessels and collection of insurance claims in the previous quarter. -The increase in finance cost by an amount of SAR 22 million due to increase in interest rates. -The decrease in net profits in the Company’s share in results of equity accounted investee companies by an amount of SAR 21 during the current quarter compared with the previous quarter. |
| 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) | None |
| Reclassification of Comparison Items | Certain comparative figures of the prior period have been reclassified to match with the presentation of the current period. |
| Additional Information | - |
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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