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Zamil Industrial Investment Company Announces its Interim Financial results for the Period Ending on 31-03-2024 (Three Months)
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 1,304,419 | 1,039,198 | 25.521 | 1,293,685 | 0.829 |
| Gross Profit (Loss) | 199,453 | 146,776 | 35.889 | 107,187 | 86.079 |
| Operational Profit (Loss) | 21,435 | 16,252 | 31.891 | -187,957 | - |
| Net profit (Loss) | 5,427 | -13,812 | - | -66,767 | - |
| Total Comprehensive Income | -15,459 | -22,154 | -30.22 | -78,577 | -80.326 |
| 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) | 436,344 | 748,729 | -41.722 |
| Profit (Loss) per Share | 0.09 | -0.23 | |
| 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 | - | - | |
| 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 | Consolidated Sales during the period increased by 25.5% due to Sales growth across all sectors. Steel sector grew by 24.7%, AC sector grew by 19.1% and Insulation sector grew by 18.8%. |
| 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 Profit increased due to: 1. Higher Sales across all sectors resulted in an increase in Gross Profit by 35.9%; 2. Higher Operating Income in Steel and Insulation sectors; 3. Higher Other Income by SAR 43.2 million mainly due to income from sale of damaged items during the fire incident during Q1 2023; 4. Higher Share in Results from Associates and Joint Ventures by SAR 2.3 million; 5. Lower Zakat and Income Tax by SAR 1.8 million. However, the impact of the above is partly offset by higher provision for Expected Credit Loss (ECL) by SAR 38.4 million and lower income from discontinued operations of SAR 21.8 million was accounted for in Q1 2023. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Consolidated Sales during the period increased by 0.8% due to sales growth in AC sector by 36%. However, sales reduced in Steel sector by 14% and Insulation sector by 3%. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | Net Profit increased due to: 1. Higher Gross Profit Margin in AC and Insulation sectors; 2. Better operating profitability across all sectors; 3. Lower provision for Expected Credit Loss by SAR 79.5 million; 4. Lower Financial charges by SAR 7 million; 5. Lower Zakat and Tax by SAR 8.2 million; However, the impact of the above is partly offset by the income from insurance claim of SAR 183.2 million which was accounted in Q4 2023 |
| 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 | Comparative figures have been reclassified to conform with the presentation in the current period. |
| Additional Information | None |
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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