Advanced Building Industries Co. — Earnings Release 2005

Jan 28, 2006

ZAMIL INDUSTRIES ANNOUNCES NET PROFITS OF SAR 106 M (USD 28 M) FOR 2005

2240 · 28/01/2006 12:37:08 · Announcement #7899 · View on Saudi Exchange

ZAMIL INDUSTRIES ANNOUNCES NET PROFITS OF SAR 106 M (USD 28 M) FOR 2005

Zamil Industrial Investment Company (ZIIC), the international manufacturing and fabrication group focused on growth segments of the construction industry, posted net profits, after Zakat contributions, of SAR 106.4 million (USD 28.4 million) for the year ended December 2005, representing a net increase of 51.6% in net profits over 2004.

ZIIC turnover for 2005 grew to SAR 2.4 billion (USD 631.7 million), a 20.5% increase over 2004, while Shareholders Equity increased to SAR 589.5 million (USD 157.2 million), up by 19.1% from the previous year.

Post Zakat Earnings per Share have also increased by 51.6% to 15.19 SAR (USD 4.05), up from SAR 10.02 (USD 2.67) in 2004.

Dr. Abdulrahman Al Zamil, Chairman, ZIIC, commenting on the group?s financial results stated: ?Our strong performance in 2005 was further enhanced by the Kingdom?s vibrant economy, as well as favorable conditions in the GCC. Our sector businesses, namely Steel and Air Conditioning, have done remarkably well in the Saudi market. We have been awarded major contracts locally and abroad. Our exports continue to support our business growth and expansion strategies as demonstrated by increased demand for our building solutions. Revenues generated from exports reached SAR 934 million (USD 249 million), representing 39% of the group?s total sales. We have expanded our manufacturing plants and capabilities in the Kingdom, while new production facilities are being commissioned in the GCC, Vietnam and India. We foresee sustained growth ahead, and we aim to achieve even better results for our shareholders. We are strategically positioned to take advantage of increased business opportunities WTO membership will present?.

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.