Advanced Building Industries Co. — Interim / Quarterly Report 2017

Oct 26, 2017

Zamil Industrial Investment Co. announces the interim financial results for the period ending on 30-09-2017 (Nine Months)

2240 · 26/10/2017 15:49:16 · Announcement #48338 · View on Saudi Exchange

Zamil Industrial Investment Co. announces the interim financial results for the period ending on 30-09-2017 (Nine Months)

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	21,936	41,154	-	36,453	-
Gross profit (loss)	200,145	241,852	-	240,592	-
Operational profit (loss)	41,078	73,914	-	65,166	-
All figures are in (Thousands) Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Net profit (loss)	100,166	145,271	-
Gross profit (loss)	648,871	771,230	-
Operational profit (loss)	170,551	252,106	-
Earning or loss per share, Riyals	1.67	2.42	-
All figures are in (Thousands) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	Decrease in Net Profit was due to lower sales in steel and insulation sectors and lower operating margins in AC, Steel and Insulation sectors attributable to project delays as a result of general slowdown in the contracting business eco-system.
Reasons of increase (decrease) for period compared with same period last year	Decrease in Net Profit was due to lower sales and operating margins in AC, Steel and Insulation sectors attributable to project delays as a result of general slowdown in the contracting business eco-system. Decrease in Net Profit was also due to increase in financial charges.
Reasons of increase (decrease) for quarter compared with previous quarter	Decrease in Net Profit was due to lower sales and operating margins in AC, Steel and Insulation sectors. The decrease is also due to reduction income from associate investments and increase in financial charges.
Reclassifications in quarterly financial results	Comparative figures have been restated and reclassified based on IFRS transition effective 01 January 2016. The restated numbers are available in note 15 (First time adoption of IFRS) in the interim condensed consolidated financial statements for the period ended 30th of September 2017.
Other notes	A- Revenues during the current quarter amounts to SR 1,022.9 million versus SR 1,099.2 million for the same quarter of last year, a decrease of 6.9%. B- Revenues during the first nine months of current year amounts to SR 3,146.4 million versus SR 3,730.7 million for the same period of last year. A decrease of 15.6%. C- Total comprehensive income during the quarter amounts to SR. 21.5 million compared to SR. 41.7 million for the similar quarter last year, a decrease of 48.3%, and compared to SR 37.2 million for the previous quarter, a decrease of 42.1%. D- Total comprehensive income during the first nine months of current year amounts to SR. 105.8 million compared to SR. 139.4 million for the similar period last year, a decrease of 24.1%. E- Equity attributable to shareholders (after the elimination of Minority Interest) as of 30/09/2017 amounts to SR 1,666.4 million versus SR 1,696.7 million as of 30/09/2016, a decrease of 1.8%.

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