IssuerAnnouncementDetailsV2Portlet
Nama Chemicals Co. 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 | 98,080 | 131,056 | -25.161 | 100,743 | -2.643 |
Gross Profit (Loss) | -6,421 | 2,909 | - | -14,933 | -57.001 |
Operational Profit (Loss) | -25,644 | -15,116 | 69.648 | -39,342 | -34.817 |
Net profit (Loss) | -29,697 | -18,810 | 57.878 | -44,833 | -33.76 |
Total Comprehensive Income | -29,556 | -18,808 | 57.145 | -57,423 | -48.529 |
All figures are in (Thousands) Saudi Arabia, Riyals |
Element List | Current Period | Similar period for previous year | %Change |
---|---|---|---|
Total Share Holders Equity (After Deducting the Minority Equity) | 204,366 | 367,167 | -44.339 |
Profit (Loss) per Share | -1.26 | -0.8 | |
All figures are in (Thousands) Saudi Arabia, Riyals |
Element List | Percentage of the capital (%) | Amount | |
---|---|---|---|
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
Accumulated Losses | 13.27 | -31,200 | |
All figures are in (Thousands) 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 | A decrease in revenues by 25% due to a sharp decline in the average selling prices of products, especially the main product of epoxy |
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 revenues during this year compared to the previous year is due to: • A decrease in revenues by 25% due to a sharp decline in the average selling prices of products, especially the main product of epoxy. • Cost of sales decreased due to lower quantities sold of the main product • Increased marketing expenses due to higher shipping costs. • Increase in General and administrative expenses due to increase in licensing fee of SAP users • Financing expenses increased as a result of increased bank facilities • An Increase in other income due adopting IFRs effective interest rate on SIDF loan |
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | • A decrease in revenues by 3% mainly due to decrease in sales quantity of the main product of epoxy. |
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The decrease in net loss compared to the previous quarter is due to decrease in the quantities sold from the main product which decreased the cost of sales, alongside the decrease in the provision for zakat and bad debt, although the shipping cost increased during current 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 | None |
Additional Information | The net accumulated losses and statutory reserve for the period ending 31 March 2024 to (31.20) million Saudi riyals and 6.4 million Saudi riyals, respectively, representing in total (10.53%) of the capital, a decrease of 29.7 Million compared to the total retained earnings and statutory reserve for the previous year as a result of the continued decline in average selling prices of products as a result of global economic conditions and their impact on the decline in demand |
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.