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Saudi Arabian Mining Company (Ma’aden) announces its Annual Financial Results for the year Ended on 31-12-2021

Element ListCurrent YearPrevious Year%Change
Sales/Revenue 26,769,006,10918,579,823,26144.075
Gross Profit (Loss) 9,154,668,0712,566,994,757256.629
Operational Profit (Loss) 7,413,643,935810,594,691814.593
Net Profit (Loss) after Zakat and Tax 5,227,700,464-208,980,874-
Total Comprehensive Income 5,351,327,367-383,390,676-
Total Share Holders Equity (after Deducting Minority Equity) 35,651,254,46330,251,637,88517.849
Profit (Loss) per Share 4.25-0.17
All figures are in (Actual) 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 reasons for the increase in net profit during the current year compared to the last year are:

• Higher average realized sales prices of all products except industrial mineral products;

• Higher net profit of joint ventures attributable to Ma’aden and

• Lower costs (general and administrative expenses by 3%, exploration and technical services expenses by 30% and finance cost by 27%)

This increase in net profit is partially offset by:

• Lower sales volume of ammonia, gold and flat rolled products;

• Lower income from time deposits and

• Higher costs (cost of sales by 10%, selling, marketing and logistic expenses by 15% and zakat and income tax expense by 191%)

Statement of the type of external auditor's report Unmodified opinion
Reclassification of Comparison Items N/A

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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