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National Shipping Company of Saudi Arabia announces its Interim Financial Results for the Period Ending on 2022-12-31 ( Twelve Months )

4030
BAHRI
-2.01 %
1444/07/08     30/01/2023 15:56:41

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 2,717.51,546.5475.712,292.7218.53
Gross Profit (Loss) 2,070.881,368.8351.29383.24440.36
Operational Profit (Loss) 760.07173.31338.56412.3484.33
Net Profit (Loss) after Zakat and Tax 578.1291.98528.53269.87114.22
Total Comprehensive Income 576.56104.96449.31265.3117.32
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 8,582.585,351.0860.39
Gross Profit (Loss) 7,204.454,917.9846.49
Operational Profit (Loss) 1,493.29424.83251.5
Net Profit (Loss) after Zakat and Tax 1,040.91192.43440.93
Total Comprehensive Income 1,075.13210.93409.71
Total Share Holders Equity (after Deducting Minority Equity) 10,491.159,413.1111.45
Profit (Loss) per Share 2.110.39
All figures are in (Millions) Saudi Arabia, Riyals
Element ListExplanation
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 net profit during the current quarter compared to the same quarter of last year is:

- The increase in revenues which is due to the improvement in majority of the sectors performance especially in the oil transportation sector where its revenues have increased by the amount of SR 764 million as well as the increase in the chemicals transportation sector revenues by the amount of SR 344 million, due to the improvement in shipping rates and the increase in shipping operations as well as the additions of new vessels in Bahri fleet.

- The increase in other income by the amount of SR 147 million during the current quarter compared with same quarter last year which is supported by the realized capital gain by the amount of SR 154 million from disposal of vessels within the fleet modernization plan.

- While the increase in finance cost by the amount of SR 68 million has limited the increase in net profits during the 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 previous quarter of the current year is The main reason for the increase in net profit in the current quarter compared to the previous quarter is:

- The increase in revenues which is due to the improvement in majority of the sectors performance especially in the oil transportation sector where its revenues have increased by the amount of SR 277 million as well as the increase in the chemicals transportation sector revenues by the amount of SR 94 million, in addition to the increase in the Logistics services sector revenues by the amount of SR 57 million due to the improvement in shipping rates and the increase in shipping operations.

- The increase in the other income by the amount of SR 125 million during the current quarter compared with previous quarter.

- While the increase in doubtful debt provision by the amount of SR 54 has limited the increase in net profits during the current quarter as a result of provisions reversal during last quarter.

The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is The main reason for the increase in net profit during the current period compared to the same period of last year is:

- The increase in revenues which is due to the improvement in all sectors performance especially in the oil transportation sector where its revenues have increased by the amount of SR 2,017 million as well as the increase in the chemicals transportation sector revenues by the amount of SR 833 million, due to the improvement in shipping rates and the increase in shipping operations as well as the additions of new vessels in Bahri fleet.

- The increase in other income by the amount of SR 161 million during the current period compared with same period last year which is supported by the realized capital gain by the amount of SR 160 million from disposal of vessels within the fleet modernization plan.

- While the increase in the finance cost by the amount of SR 117 million has limited the increase in net profits during the current period compared with same period of last year.

Statement of the type of external auditor's report Unmodified conclusion
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 None

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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Last Price 26.8
Net Change -0.55 (-2.01%)
Value Traded (Sar) 8,305,764.6
Volume Traded 309,557
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