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National Shipping Company of Saudi Arabia announces its Annual Financial Results for the Year Ending on 2020-12-31

Element ListCurrent YearPrevious Year%Change
Sales/Revenue 8,3936,567.0227.805
Gross Profit (Loss) 2,121.791,42748.688
Operational Profit (Loss) 1,865.931,223.0252.567
Net Profit (Loss) after Zakat and Tax 1,571.11620.7153.119
Total Comprehensive Income 1,565.01621.8151.69
Total Share Holders Equity (after Deducting Minority Equity) 9,989.689,212.178.44
Profit (Loss) per Share 3.991.58
All figures are in (Millions) Saudi Arabia, Riyals
Element ListExplanation
The reason of the increase (decrease) in the net profit during the current year compared to the last year is The increase in net profit for the current year compared to the previous year is mainly due to the increase in revenue from several operating segments supported mainly by the growth in oil transport sector due to the rise of transportation rates in addition to the increase in number of voyages during the year.

The increase in net profits during the year was also supported by, the decrease in financing expenses during the year compared to the previous year and recording profits in the group's share of results in equity accounted investee companies compared to losses realized in the previous year.

Statement of the type of external auditor's report Unmodified opinion
Reclassification of Comparison Items Certain comparative figures of the previous year have been reclassified to match with the presentation of the current year.
Additional Information None

The Capital Market Authority and the Saudi Stock 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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