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

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