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Saudi Industrial Investment Group announces its Interim Financial Results for the Period Ending on 2022-12-31 ( Twelve Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | - | - | - | - | - |
| Gross Profit (Loss) | - | - | - | - | - |
| Operational Profit (Loss) | -308 | 272 | - | 58 | - |
| Net Profit (Loss) after Zakat and Tax | -296 | 122 | - | 55 | - |
| Total Comprehensive Income | -294 | 127 | - | 151 | - |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | - | - | - |
| Gross Profit (Loss) | - | - | - |
| Operational Profit (Loss) | 422 | 1,837 | -77.03 |
| Net Profit (Loss) after Zakat and Tax | 277 | 1,136 | -75.62 |
| Total Comprehensive Income | 376 | 1,142 | -67.08 |
| Total Share Holders Equity (after Deducting Minority Equity) | 10,687 | 7,328 | 45.84 |
| Profit (Loss) per Share | 0.41 | 2.53 | |
| 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 | The reason for the decrease in net income and incurring losses during the current quarter compared to the same quarter of the previous year is: 1. SIIG’s jointly managed projects have incurred losses in this current quarter, due to: - Scheduled turnaround maintenance for SIIG’s Saudi Polymer Company during the current quarter. - lower selling prices. |
| 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 reasons for the decrease in the net income and incurring losses during the current quarter compared with the previous quarter is: 1) SIIG’s jointly managed projects have incurred losses in this current quarter, due to: - Scheduled turnaround maintenance for SIIG’s Saudi Polymer Company during the current quarter. - lower selling prices. 2) An increase in the general and administrative expenses. |
| 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 reasons for the decrease in the net income during the current period compared with the same period of the previous year are: 1) SIIG’s share of profit of the jointly managed projects has decreased in the current period, due to - Lower profit margin because of higher feedstock costs and lower selling prices. - Scheduled turnaround maintenance for SIIG’s Saudi Polymer Company during the current period. 2) An increase in the Zakat expenses as the company has reversed zakat provisions relating to previous years during the same period of the previous year. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | Certain prior period figures have been re-classified to confirm with the presentation in the current period. |
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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