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National Industrialization Co. announces its Annual Financial results for the period ending on 2023-12-31
2060
TASNEE
-0.51
%
1445/08/23 04/03/2024 15:51:33
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 3,567 | 3,882.9 | -8.13 | ||
| Gross Profit (Loss) | 364.5 | 864.3 | -57.83 | ||
| Operational Profit (Loss) | 413.9 | 1,320.8 | -68.66 | ||
| Net profit (Loss) | 174.6 | 666.3 | -73.8 | ||
| Total Comprehensive Income | 34.6 | 909.7 | -96.2 | ||
| Total Share Holders Equity (After Deducting the Minority Equity) | 9,649.5 | 9,615 | 0.36 | ||
| Profit (Loss) per Share | 0.26 | 1 | |||
| 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 | Decrease in sales revenue by 8% is primarily attributable to lower average selling prices, despite increase in sales volumes of most of the products. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Decrease in net profit is primarily attributable to decrease in sales revenue and share of profit from investments in joint ventures and associates due to lower average selling prices, non-cash tax charge due to change in accounting estimates with respect to the deferred tax assets related to an associate (Tronox Holdings plc.) and increase in cost of sales, selling and distribution expenses and financing costs, despite increase in sales volumes of most of the products, decrease in general & administrative expenses, impairment of non-financial assets, zakat provisions and higher murabaha income. |
| 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 | Certain corresponding figures for the comparative year have been re-classified in conformity with the current year. |
| Additional Information | During the year, as part of the acrylic restructuring, the Group acquired one of the joint ventures (Saudi Acrylic Polymers Company "SAPCO") and an associate, resulting in recognition of a provisional goodwill which is partially impaired by SR 226 million (Tasnee share SR 118 million). The related details and impact of the transaction are disclosed under Note 45 in the Group's consolidated financial statements for the year-ended 31 December 2023. |
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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