Advanced Building Industries Co. — Earnings Release 2018

Mar 21, 2019

Zamil Industrial Investment Co. announces its Annual financial results for the period ending on 2018-12-31

2240 · 21/03/2019 15:20:32 · Announcement #53914 · View on Saudi Exchange

Zamil Industrial Investment Co. announces its Annual financial results for the period ending on 2018-12-31

Element List	Current Year	Previous Year	%Change
Sales/Revenue	4,313,649	4,403,850	-2.048
Total Profit (Loss)	706,415	908,199	-22.218
Profit (Loss) Operational	-18,667	226,540	-
Net Profit (Loss) after Zakat and Tax	-139,883	105,018	-
Total Comprehensive Income	-169,006	106,504	-
Total Share Holders Equity (after deducting minority equity)	1,415,946	1,664,703	-14.943
Profit (Loss) per Share	-2.33	1.75
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Explanation
Reason for increase (decrease) in net profit for current year compared to last year	Net loss for the year is contributed to the following:

1. Adoption of IFRS 9 resulted in an increase in provision for expected credit loss of financial assets by SAR 111 million.

2. Reduction in gross profit margins across all sectors due to lower domestic revenues, increase in input costs, pressure on selling prices, and severe competition.

3. Increase in financial charges.

4. Increase in share of loss of associated companies.

5. Loss on disposal of company's share and impairment of dues from discontinued operations. Type of the external auditor's opinion Unmodified opinion Reclassifications in annual financial results Comparative figures have been reclassified to conform with the presentation in the current year. Additional Information 1. The Saudi local sales dropped by 4% while exports and international sales, on the other hand, increased by 2.1%.

2. The company continued its diligent efforts on cost cutting and control of expenses which resulted in a savings of SAR 67 million in selling and administrative expenses despite the increase in levies.

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.