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National Industrialization 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 | 761.4 | 888.7 | -14.324 | 957.1 | -20.447 |
| Gross Profit (Loss) | 19.6 | 115 | -82.956 | -50.4 | - |
| Operational Profit (Loss) | -32.2 | 161.5 | - | 15.8 | - |
| Net profit (Loss) | -72.1 | 82.1 | - | -17.1 | 321.637 |
| Total Comprehensive Income | -118.8 | 89.3 | - | -1.7 | 6,888.235 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (After Deducting the Minority Equity) | 9,530.7 | 9,704.3 | -1.788 |
| Profit (Loss) per Share | -0.11 | 0.12 | |
| 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 | - | - | |
| 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 | Decrease in revenue is primarily attributable to the decrease in sales volume due to scheduled maintenance activities for some of the plants and lower average selling prices for most of the products. |
| 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 loss is primarily attributable to the decrease in sales volumes due to scheduled maintenance activities for some of the plants and lower average selling prices for most of the products resulting in decrease in revenue and share of profit from investments in associates and joint ventures, in addition to lower other income and higher net finance costs, despite decrease in cost of sales due to lower sales volumes and no impairment required during this quarter. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Decrease in revenue is primarily attributable to the decrease in sales volume due to scheduled maintenance activities for some of the plants, despite slightly improved average selling prices for some of the products. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | Increase in net loss is primarily attributable to the decrease in sales volumes due to scheduled maintenance activities for some of the plants resulting in decrease in revenue and share of profit from investments in associates and joint ventures, in addition to increase in general and administrative expenses and lower other income, despite slightly improved average selling prices for some of the products, decrease in cost of sales due to lower sales volumes and net finance costs and no impairment required during this 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) | N/A |
| Reclassification of Comparison Items | Certain corresponding figures for the comparative period have been re-classified in conformity with the current period. |
| Additional Information | As published on Tadawul on 04 March 2024 and disclosed under Note 45 in the Group's consolidated financial statements for the year ended 31 December 2023, the Group acquired one of the joint ventures (Saudi Acrylic Polymers Company "SAPCO") and an associate, as part of the acrylic restructuring. Accordingly, both entities are being consolidated as wholly owned subsidiaries in the Group's consolidated financial statements with effect from 05 December 2023, resulting in some variations between the financial results of current quarter with comparative quarters. |
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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