Al Jouf Cement Co. — Earnings Release 2020

Mar 30, 2021

Al Jouf Cement Co. announces its Annual Financial Results for the Period Ending on 2020-12-31

3091 · 30/03/2021 15:35:34 · Announcement #62496 · View on Saudi Exchange

Al Jouf Cement Co. announces its Annual Financial Results for the Period Ending on 2020-12-31

Element List	Current Year	Previous Year	%Change
Sales/Revenue	252,003,743	169,750,830	48.455
Gross Profit (Loss)	79,597,507	31,713,963	150.985
Operational Profit (Loss)	54,346,587	8,357,527	550.271
Net Profit (Loss) after Zakat and Tax	-73,326,934	5,256,112	-
Total Comprehensive Income	-75,200,939	4,711,477	-
Total Share Holders Equity (after Deducting Minority Equity)	1,462,544,176	1,537,745,115	-4.89
Profit (Loss) per Share	-0.51	0.04
All figures are in (Actual) Saudi Arabia, Riyals

Element List

Explanation

The reason of the increase (decrease) in the net profit during the current year compared to the last year is

The reason for achieving losses in the net profit during this year compared to the previous year is due to the calculation of provisions on old investments of the company in the amount of 99 million riyals represented in the investment in the Eastern Industrial Company from 2007 AD and credit allocations represented in the value of selling the share of Al-Jouf Investments Company owned by Al-Jouf Cement Company in Across Bridges Company and the investor in it in 2012 AD. These allocations were calculated according to the directives of the Board of Directors to deal with old investments.

This is despite the company achieving a significant increase in the total profit and operating profit for the current year compared to the previous year due to the increase in the quantity and value of sales, and the decrease in the cost of sales per ton as a result of increased production.

It should be noted that the calculation of provisions on these investments, as well as credit allocations, will have a positive impact on the coming periods. Statement of the type of external auditor's report Unmodified opinion Reclassification of Comparison Items Certain comparative figures have been reclassified to conform to the presentation

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