Advanced Building Industries Co. — Earnings Release 2009

Jul 15, 2009

ZAMIL INDUSTRIAL ANNOUNCES CONSOLIDATED FINANCIAL RESULTS FOR PERIOD ENDING 30/06/2009 (SIX MONTHS)

2240 · 15/07/2009 16:11:30 · Announcement #15906 · View on Saudi Exchange

ZAMIL INDUSTRIAL ANNOUNCES CONSOLIDATED FINANCIAL RESULTS FOR PERIOD ENDING 30/06/2009 (SIX MONTHS)

Zamil Industrial Investment Company (Zamil Industrial) has announced its consolidated interim financial results for the period ending 30 June 2009:

(1) Net profits for the second quarter of 2009 were SAR 59.8 million (USD 16 million), compared to SAR 73.1 million (USD 19.5 million) during the same period in 2008, representing a decrease of 18.1 percent, and compared to SAR 52.5 million (USD 14 million) posted in the previous quarter (Q1) an increase of 14 percent.

(2) Gross profit for the second quarter of 2009 was SAR 224.2 million (USD 59.8 million), compared to gross profit of SAR 264 million (USD 70.4 million) for the same period in 2008, a decline of 15.1 percent.

(3) Operating profits during the second quarter posted a decrease of 19.2 percent down to SAR 79.3 million (USD 21.1 million) from SAR 98.2 million (USD 26.2 million) in the same period in 2008.

(4) During the six months ending 30 June 2009, net profits were SAR 112.3 million (USD 30 million) compared to SAR 123.4 million (USD 32.9 million), representing a decline of 9 percent over the same period in 2008.

(5) Earnings Per Share decreased to SAR 2.50 (USD 0.67) from SAR 2.74 (USD 0.73) in the same period in 2008.

(6) Gross profit for the first six months was SAR 458.5 million (USD 122.3 million) compared to SAR 460.1 million (USD 122.7 million) for the same period in 2008, a decrease of 0.3 percent.

(7) Operating profits for the first six months were SAR 163.7 million (USD 43.7 million) compared with SAR 171.9 million (USD 45.8 million) for the same period in 2008, a decrease of 4.7 percent.

(8) The reasons for the drop in second quarter results was mainly due to lower sales volume which had an affect mostly on some products in the steel sector.

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.