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Saudi Arabian Mining Co. announces its Interim Financial Results for the Period Ending on 2023-09-30 (Nine Months)

1211
MAADEN
-0.51 %
1445/04/16     31/10/2023 09:28:23

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 6,225,998,10710,014,421,018-37.836,966,269,838-10.63
Gross Profit (Loss) 928,985,3503,573,827,596-741,615,854,461-42.51
Operational Profit (Loss) 211,994,5462,953,747,043-92.82843,393,595-74.86
Net Profit (Loss) after Zakat and Tax -83,435,8852,102,534,770-350,941,901-
Total Comprehensive Income -123,093,1502,148,894,282-332,019,071-
All figures are in (Actual) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 21,237,361,05830,804,658,022-31.06
Gross Profit (Loss) 4,130,470,39313,615,885,142-69.66
Operational Profit (Loss) 1,985,594,27711,769,898,675-83.13
Net Profit (Loss) after Zakat and Tax 686,924,9838,302,573,888-91.73
Total Comprehensive Income 664,580,1628,452,183,981-92.14
Total Share Holders Equity (after Deducting Minority Equity) 45,758,069,58144,095,554,8653.77
Profit (Loss) per Share 0.192.25
All figures are in (Actual) 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 Net loss during the current quarter amounts to SAR 83 million compared to a net profit of SAR 2.1 billion during the same quarter last year, which is mainly due to decline in sales by SAR 3.8 billion on the back of declining commodity market prices of all business segments except base metal and new minerals segment. This was partially offset by a decrease in cost of sales, largely attributable to lower raw material 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 Net loss during the current quarter amounts to SAR 83 million compared to a net profit of SAR 351 million during the previous quarter of the current year, which is mainly due to decline in sales by SAR 740 million on the back of declining commodity market prices of all business segments. This was partially offset by a decrease in cost of sales, largely attributable to lower raw material prices, and lower severance fees expense mainly due to one-off severance fees recorded during the previous quarter of the current year.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is Net profit for the current period decreased by SAR 7.6 billion (92%) compared to same period of the last year, which is mainly due to decline in sales by SAR 9.6 billion on the back of declining commodity market prices of all business segments except base metal and new mineral segment. This was partially offset by a decrease in cost of sales, largely attributable to lower raw material prices, higher income from time deposit, and lower income taxes and zakat.
Statement of the type of external auditor's report Unmodified conclusion
Reclassification of Comparison Items As a result of voluntary reclassification, as at 30 June 2022, the Group voluntarily reclassified the “cash flow hedge reserve attributable to ordinary shareholders of the parent company” from “Retained earnings” and presented it within “Other reserves” for better presentation. The comparative information as of 1 January 2022 was represented to conform to the new presentation.
Additional Information As a result of issuance of bonus shares, as approved by Extraordinary General Assembly on 7 June 2023, the outstanding weighted average number of ordinary shares post the bonus shares issuance (3,691,773,438 shares) have been used for calculation of basic and diluted earnings per ordinary share from continuing operations, for all periods presented.
Attached Documents  

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 49.25
Net Change -0.25 (-0.51%)
Value Traded (Sar) 63,505,792.45
Volume Traded 1,283,015
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