Alujain Corp. — Earnings Release 2015

Jul 29, 2015

Alujain Corp. announces the interim financial results for the period ending on 30-06-2015 (Six Months)

2170 · 29/07/2015 16:19:48 · Announcement #39395 · View on Saudi Exchange

Alujain Corp. announces the interim financial results for the period ending on 30-06-2015 (Six Months)

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	50.18	52.57	-	-	-
Gross profit (loss)	136.74	87.52	56.24	15.04	809.18
Operational profit (loss)	117.2	67.82	72.81	-	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Net profit (loss)	33.35	67.34	-
Gross profit (loss)	151.79	156.13	-
Operational profit (loss)	113.91	118.6	-
Earning or loss per share, Riyals	0.48	0.97	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	The net profit decreased during Q2 2015 compared to Q2 2014 is mainly due to insurance compensation received during Q2 2014, although the margins during Q2 2015 are much better mainly due to lower feedstock prices. The sales is lower mainly due to lower sales prices and quantities during current quarter. The subsidiary (NATPET) reported SR 3.0 million against its share of losses from its joint venture (Bonar Natpet) during current quarter as compared to zero loss during same quarter last year.
Reasons of increase (decrease) for period compared with same period last year	The net profit decreased mainly due to the insurance compensation received during last year and the shutdown of Polypropylene Complex for scheduled Turnaround procedures during Q1, 2015, as was announced on Tadawul. The sales and gross profit are also lower due to lower quantities and lower sales prices during the current period. The subsidiary (NATPET) reported SR 7.0 million against its share of losses from its joint venture (Bonar Natpet) during current period as compared to zero loss during same period last year.
Reasons of increase (decrease) for quarter compared with previous quarter	The net profit increased during Q2 2015 compared to Q1 2015 mainly due to the shutdown of Polypropylene Complex for scheduled Turnaround procedures during Q1, 2015, as was announced on Tadawul.
Reclassifications in quarterly financial results	Certain reclassifications were made in comparative numbers to conform to the current period.

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