Advanced Building Industries Co. — Earnings Release 2004

Jan 16, 2005

ZIIC POSTS SAR 70.2 M (USD 18.7 M) NET PROFITS IN 2004

2240 · 16/01/2005 12:55:46 · Announcement #6193 · View on Saudi Exchange

ZIIC POSTS SAR 70.2 M (USD 18.7 M) NET PROFITS IN 2004

Zamil Industrial Investment Company (ZIIC), the international manufacturing and fabrication group focused on growth segments of the construction industry, has announced a 39.7% increase in net profits, after Zakat contributions, in its financial results for the year ended December 2004. ZIIC posted a turnover for 2004 of SAR 1.96 billion (USD 523 m), a 25.6% increase over 2003. Shareholders Equity recorded an increase of 13.9%, up from SAR 437.2 million (USD 116.6 m) in 2003 to SAR 498.1 (USD 132.8 m) in 2004. Net profits after Zakat contributions grew by 39.7% to SAR 70.2 million (USD 18.7 M), while post Zakat earnings per share grew by 39.7% to SAR 10 (USD 2.67) up from SAR 7.17 (USD 1.91) in 2003. ?We are extremely pleased with the strong performance of the steel and air conditioning sectors. Zamil Steel Saudi Arabia, Egypt and Vietnam had a major positive impact on ZIIC growth in 2004. Zamil Air Conditioners posted excellent results, despite the fierce competition in this particular industry. I should highlight our exports for the year 2004 of SAR 889 million (USD 237 m) which represents a 62% increase over 2003 and 45% of our annual turnover. This is a remarkable achievement and an affirmation of the quality of our products and their competitive edge in international markets?, said Dr. Abdulrahman A. Al Zamil, Chairman, ZIIC.

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.