Abdullah Al Othaim Markets Co. — Earnings Release 2020

Mar 22, 2021

Abdullah Al Othaim Markets Co. announces its Annual Financial Results for the Period Ending on 2020-12-31

4001 · 22/03/2021 08:02:43 · Announcement #62333 · View on Saudi Exchange

Abdullah Al Othaim Markets Co. announces its Annual Financial Results for the Period Ending on 2020-12-31

Element List	Current Year	Previous Year	%Change
Sales/Revenue	8,811.5	8,165.88	7.906
Gross Profit (Loss)	1,911.15	1,692.91	12.891
Operational Profit (Loss)	518.93	399.49	29.898
Net Profit (Loss) after Zakat and Tax	450.97	344.67	30.841
Total Comprehensive Income	441.89	344.12	28.411
Total Share Holders Equity (after Deducting Minority Equity)	1,524.32	1,487.44	2.479
Profit (Loss) per Share	5.01	3.83
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current year compared to the last year is	Sales growth of 7.91% driven by high demand to buy food and grocery supplies during the closure periods imposed by the government to mitigate Corona virus outbreak during the first half of the year, despite the sales decline in the second half of the year. In addition to the improvement of the gross margin and the savings in operating costs resulted from the governmental initiatives to mitigate the impact of Corona pandemic. The discontinued operations include a profit of SR 6.67 million resulted from the revaluation of the assets available for sale related to the discontinued agricultural activity at fair value. On the other hand, the real estate activity was negatively affected during the first half of the year, as the company granted discounts and exemptions to tenants as a compensation for the closure periods, and the operations of the subsidiaries and associates were negatively affected by the closure during the first half of the year.
Statement of the type of external auditor's report	Unmodified opinion
Reclassification of Comparison Items	Some comparative figures have been restated to be consistent with the presentation of the current year.

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