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Aldrees Petroleum and Transport Services Co. (ALDREES) announces its interim Financial results for the period ending on 2023-12-31 (Twelve Months).
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 3,951.7 | 3,332.2 | 18.591 | 3,883.2 | 1.764 |
| Gross Profit (Loss) | 172.8 | 171.5 | 0.758 | 175.8 | -1.706 |
| Operational Profit (Loss) | 106.8 | 106.9 | -0.093 | 106.6 | 0.187 |
| Net profit (Loss) | 72.5 | 71.8 | 0.974 | 67.6 | 7.248 |
| Total Comprehensive Income | 68.2 | 56.6 | 20.494 | 67.6 | 0.887 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 14,834.1 | 12,356.1 | 20.054 |
| Gross Profit (Loss) | 680.9 | 594.6 | 14.513 |
| Operational Profit (Loss) | 421.2 | 363 | 16.033 |
| Net profit (Loss) | 280.8 | 241.8 | 16.129 |
| Total Comprehensive Income | 276.6 | 226.7 | 22.011 |
| Total Share Holders Equity (After Deducting the Minority Equity) | 1,235.9 | 1,109.3 | 11.412 |
| Profit (Loss) per Share | 3.74 | 3.22 | |
| 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 | - | - | |
| Accumulated Losses | - | - | |
| 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 reason for the increase of sales for the current quarter compared with the same quarter last year due to due to the growth in the number of fuel stations and the expansion of logistics services for the Transport Division. |
| 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 increase of net profit for the current quarter compared with the same quarter last year is due to the increase of Petrol and Transport Division sales, increase in other income, increase of deposit income, increase of income from Sukuk investment, increase of income of the joint venture project investment, and the commission income from investment at amortized cost. And the decrease of Marketing and Selling and Zakat expenses, although there is an increase of General, Administrative and Financial Expenses. Total comprehensive income increased during the current quarter compared to the same quarter of the previous year, due to the decrease in re-classification losses of employees' defined benefits obligations. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The reason for the increase of sales for the current quarter compared with the previous quarter is due to the growth in the number of fuel stations, although there is a decrease in Transport Division sales. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The reason for the increase of net profit for the current quarter compared with the previous quarter is due to the increase of Petrol Sales although there is a decrease in Transport Division sales, increase in deposit and other income, and increase of income from Sukuk investment. And the decrease of General, Administrative and Zakat expenses, although there is a decrease of income of the joint project investment and increase in Marketing, Selling and Financial Expenses. The increase in total comprehensive income during the current quarter compared to the previous quarter, despite the increase in the re-measurement losses of employees' defined benefit obligations. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | The reason for the increase of sales for the current period compared with the same period of last year is due to the growth in the number of fuel stations and the expansion of logistics services for the Transport Division. |
| 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 reason for the increase of net profit for the current period compared with the same period of last year is due to the increase of Transport and Petrol Divisions sales, and the increase of deposit Income and the income from Sukuk investment, and decrease in Selling, Marketing, and Zakat expenses. Although there is an increase in General and administrative, and financial expenses, and a decrease in the investment profits in the joint venture and the other income. The increase in total comprehensive income during the current period compared to the same period of the previous year, due to the decrease in the re-measurement losses of employees' defined benefit obligations. |
| 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) | Other Matter The financial statements for the year ended 31 December 2022 were audited by another auditor who expressed an unmodified opinion on those financial statements on 29 Jumada Al-Akhirah 1444H (corresponding to 22 January 2023). |
| Reclassification of Comparison Items | Certain comparative figures for the previous year have been reclassified in order to conform with the current year’s classification. However, there is no material reclassification to report. |
| Additional Information | Adjustment of income for operations for the previous year for the quarter and the period results due to reclassifying other income into income before Zakat. |
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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