Takween Advanced Industries Co. announces its Interim Financial Results for the Period Ending on 31-03-2020 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 274,014 | 303,470 | -9.706 | 252,159 | 8.667 |
| Gross Profit (Loss) | 25,475 | 32,980 | -22.756 | -8,535 | - |
| Operational Profit (Loss) | -5,777 | -432 | 1,237.268 | -34,369 | -83.191 |
| Net Profit (Loss) after Zakat and Tax | -18,793 | -12,548 | 49.768 | -42,369 | -55.644 |
| Total Comprehensive Income | -17,992 | -11,417 | 57.589 | -39,702 | -54.682 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (after Deducting Minority Equity) | 574,922 | 592,914 | -3.034 |
| Profit (Loss) per Share | -0.2 | -0.13 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Accumulated Losses | Capital | Percentage % | |
|---|---|---|---|
| 332,487 | 950,000,000 | 34.99 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to | The reason for the increase in the net loss in the current quarter compared to the net loss in same quarter of previous year is due to the decrease in sales revenue, and the increase in selling and distribution expenses and the decrease in other income, despite the decrease in cost of revenue , general and administrative expenses, and the financial charges. |
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to | The reason for the decrease in the net loss in the current quarter compared to the net loss of the previous quarter is due to the increase in sales revenue and the decrease in cost of revenue despite the decrease other incomes, and the increase in in the administrative expenses, selling and distribution expenses, and financial charges. |
| Basis of the External Auditor's Opinion | Unmodified opinion |
| Reclassification of Comparison Items | Certain figures have been reclassified to comply with the current period presentation of the financial statements |
| Additional Information | The existence of a global pandemic (COVID-19) was confirmed in early 2020 and has casted a severe shadow over our social and professional lives. Thanks to the Al mighty Allah, and to the wise guidance of our Kingdom’s leadership, Takween immediately implemented all measures and took possible precautions to support maintaining the safety of staff and operation continuity in all factories. The Government through its Royal decrees also announced to support the private sector to limit the impact of the precautionary actions taken. Takween believe that, at this stage, it is not possible to accurately estimate the potential financial impact of this disruption and support from the Government on the Group as of now. Takween is currently assessing the financial impacts and the results will be reflected in year ended December 31, 2020 financial statements, if any The accumulated loses as of 31/03/2020 has reached SAR (332,4 million) , equal to 34.9 % of the company’s capital SAR 950 million. The accumulated loses as of 31/12/2019 has reached SAR (313,7 million), equal to 33.02% of the company’s capital. The reason for the accumulated loses is due to the decrease in sales and the increase in selling and distribution expenses, and the decrease of other Income. Noting that the company is applying the procedures and instructions issued by the capital market authority of the listed companies in the Saudi Stock Exchange, which has accumulated losses of 20% or more of its capital |
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.