Arab Sea Information System Co. — Earnings Release 2021

Mar 30, 2021

Arab Sea Information System Co. announces its Annual Financial Results for the Period Ending on 2020-12-31

7201 · 30/03/2021 15:35:41 · Announcement #62497 · View on Saudi Exchange

Arab Sea Information System Co. announces its Annual Financial Results for the Period Ending on 2020-12-31

Element List	Current Year	Previous Year	%Change
Sales/Revenue	24,122,503	38,687,418	-37.647
Gross Profit (Loss)	5,459,062	22,409,772	-75.639
Operational Profit (Loss)	-13,412,372	24,169,671	-
Net Profit (Loss) after Zakat and Tax	-15,878,515	24,149,109	-
Total Comprehensive Income	-15,750,280	24,392,109	-
Total Share Holders Equity (after Deducting Minority Equity)	136,326,958	152,077,238	-10.356
Profit (Loss) per Share	-1.59	2.41
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 net losses during this year compared to the previous year is due to 1- Decreasing revenues for two reasons

- The company's revenues were negatively affected during the current year due to the emerging corona virus pandemic

- The company has transferred an amount of (6508468 SR) from the company's revenues to the deferred revenue account, according to standard 15 of international standards (IFRS) , and it will be added to the company's revenues for the current year2021 .

2 - the company made a study for a decrease in the value of intangible assets ( impairment) and formed a provision of impairment by 5 millions Riyal and charged to the operational activities

3- A final Zakat assessment was made for the years from 2014 to 2018 , and an amount of 1844451 Riyal was charged in 2020 AD Statement of the type of external auditor's report Unmodified opinion Reclassification of Comparison Items Certain comparative figures are reclassified to conform current year classification

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