Advanced Building Industries Co. — Earnings Release 2010

Jan 19, 2011

ZAMIL INDUSTRIAL ANNOUNCES CONSOLIDATED FINANCIAL RESULTS FOR PERIOD ENDING 31/12/2010 (TWELVE MONTHS)

2240 · 19/01/2011 08:14:17 · Announcement #20004 · View on Saudi Exchange

ZAMIL INDUSTRIAL ANNOUNCES CONSOLIDATED FINANCIAL RESULTS FOR PERIOD ENDING 31/12/2010 (TWELVE MONTHS)

Zamil Industrial Investment Company (Zamil Industrial) has announced its consolidated interim financial results for the period ending 31 December 2010:

(1) Net profits for the fourth quarter of 2010 were SAR 61.3 million (USD 16.4 million), compared to SAR 64 million (USD 17.1 million) during the same period in 2009, representing 4.2 percent decrease, and compared to SAR 31.7 million (USD 8.5 million) posted in the previous quarter (Q3) an increase of 93.2 percent.

(2) Gross profit for the fourth quarter of 2010 was SAR 281.4 million (USD 75.1 million), compared to gross profit of SAR 251.1 million (USD 67 million) for the same period in 2009, a growth of 12.1 percent.

(3) Operating profits during the fourth quarter posted a decrease of 21.5 percent down to SAR 75.6 million (USD 20.2 million) from SAR 96.2 million (USD 25.7 million) in the same period in 2009.

(4) During the twelve months ending 31 December 2010, net profits were SAR 211.1 million (USD 56.3 million) compared to SAR 230.2 million (USD 61.4 million), representing a decline of 8.3 percent over the same period in 2009.

(5) Earnings Per Share dropped to SAR 3.52 (USD 0.94) from SAR 3.84 (USD 1.02) in the same period in 2009. EPS for the same period last year was recalculated based on 60 million shares.

(6) Gross profit for the twelve months was SAR 957.8 million (USD 255.4 million) compared to SAR 939.1 million (USD 250.4 million) for the same period in 2009, an increase of 2 percent.

(7) Operating profits for the twelve months were SAR 279.5 million (USD 74.5 million) compared with SAR 356.7 million (USD 95.1 million) for the same period in 2009, a decrease of 21.6 percent.

(continued)

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.