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Amwaj International Co. announces its Annual Financial results for the period ending on 2023-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 301,933,958 | 323,920,174 | -6.79 | ||
| Gross Profit (Loss) | 63,967,821 | 64,185,720 | -0.34 | ||
| Operational Profit (Loss) | 33,945,131 | 40,403,850 | -15.98 | ||
| Net profit (Loss) | 15,959,129 | 29,025,584 | -45.02 | ||
| Total Comprehensive Income | 16,188,389 | 29,391,248 | -44.92 | ||
| Total Share Holders Equity (After Deducting the Minority Equity) | 129,692,471 | 122,504,082 | 5.87 | ||
| Profit (Loss) per Share | 2.66 | 4.84 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | The reason for the decrease in sales for the current year 2023 compared to the previous year 2022 is due to the decrease in sales volume and decrease in average selling prices as well as the decrease in quantities sold. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The net profit of Amwaj International Company decreased by 45% during the current year 2023 compared to the similar period of the previous year 2022, as a result of a decrease in net sales by 7% as a result of a decrease in sales of the heating, ventilation, air conditioning and home appliances solutions sector, which includes corporate projects and the consumer sector, and the decrease is due to Net profit is mainly due to: 1- The seasonal factor 2- Increase in financing costs due to rising interest rates (SIBOR). 3- Decrease in sales volume, decrease in average selling prices, as well as decrease in quantities sold compared to 2022 4- Increase in general and administrative expenses, marketing expenses, and zakat expenses |
| Statement of the type of external auditor's report | Unmodified opinion |
| 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) | N/A |
| Reclassification of Comparison Items | None |
| Additional Information | - |
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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