Alujain Corp. — Earnings Release 2015

Jan 18, 2016

Alujain Corp. announces the interim financial results for the period ending on 31-12-2015 (Twelve Months)

2170 · 18/01/2016 08:00:16 · Announcement #40790 · View on Saudi Exchange

Alujain Corp. announces the interim financial results for the period ending on 31-12-2015 (Twelve Months)

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	27.47	65.19	-	45.56	-
Gross profit (loss)	92.03	163.48	-	129.69	-
Operational profit (loss)	72.28	142.19	-	109.62	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Net profit (loss)	106.39	167.38	-
Gross profit (loss)	373.5	434.16	-
Operational profit (loss)	295.81	355.99	-
Earning or loss per share, Riyals	1.54	2.42	-
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 4th quarter 2015 as compared to 4th quarter 2014 mainly due to reduction in contribution margin. The selling prices of polypropylene decreased more than the feedstock. Although the sales quantities are slightly higher during current quarter.
Reasons of increase (decrease) for period compared with same period last year	The net profit decreased during 2015 as compared to 2014 mainly due to lower selling prices and lower sales quantities. The sales quantities are lower mainly due to the Turnaround and shutdowns as were announced on Tadawul earlier The financial charges are also lower by SR 9.5 million. The subsidiary received insurance compensation of SR 51 million during 2014, which is part of the net profit of 2014.
Reasons of increase (decrease) for quarter compared with previous quarter	The net profit decreased during current quarter as compared to previous quarter mainly due to lower contribution margin as explained above. The sales quantities are higher during current quarter although there was a shutdown of polypropylene complex in Yanbu which was announced on Tadawul earlier.
Reclassifications in quarterly financial results	Certain reclassifications were made in comparative numbers to conform to the current period.

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