Advanced Building Industries Co. — Earnings Release 2004

Apr 19, 2004

ZIIC POSTS SAR 8.2M (US$ 2.2M) FIRST QUARTER NET PROFITS UP 30.2%

2240 · 19/04/2004 15:57:46 · Announcement #5480 · View on Saudi Exchange

ZIIC POSTS SAR 8.2M (US$ 2.2M) FIRST QUARTER NET PROFITS UP 30.2%

Zamil Industrial Investment Company (ZIIC), the international manufacturing and fabrication group focused on growth segments of the construction industry, has announced a 30.2% increase in net profits after Zakat contributions of SAR 8.2 million (US$ 2.2 million) in its financial results for the first quarter of 2004. Total turnover reached SAR 390.8 million (US$ 104.2 million), an increase of SAR 86.6 million (US$ 23.1million) over the same period in 2003. Shareholders equity increased by 8.5% to SAR 427.5 million (US$ 114 million), up from SAR 393.9 million (US$ 105 million) in 2003 Net profits after Zakat contributions grew by 30.2% to SAR 8.2 million (US$ 2.2 million) compared to SAR 6.3 million (US$ 1.7 million) in the equivalent period in 2003. Post Zakat earnings per share also grew by 30.2% to SAR 1.17 (US$ 0.31), up from SAR 0.90 (US$ 0.07) in 2003. Total exports amounted to SAR 195.9 million (US$ 52.2 million), representing 50.1% of group turnover. ZIIC products are marketed and sold in more than 75 countries around the world. Dr. Abdulrahman A. Al Zamil, Chairman of ZIIC, pointed out that the first quarter results show continued improved growth. ?Steel sector sales recorded an increase of SAR 46.5 million (US$ 12.4 million) despite the recent international steel demand crisis and the increase in Euro exchange prices. The air conditioning sector, not yet in its traditional peak summer season also witnessed an increase in year-to-date sales of by SAR 36.8 million (US$ 9.8 million). These successes will further reassure our stakeholders and strengthen their confidence in ZIIC products and quality,? said Dr. Al Zamil.

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