Arriyadh Development Co. — Earnings Release 2019

Mar 12, 2020

Arriyadh Development Co. announces its Annual Financial Results for the Period Ending on 2019-12-31

4150 · 12/03/2020 08:19:29 · Announcement #57831 · View on Saudi Exchange

Arriyadh Development Co. announces its Annual Financial Results for the Period Ending on 2019-12-31

Element List	Current Year	Previous Year	%Change
Sales/Revenue	249.7	283	-11.766
Gross Profit (Loss)	184.8	215.35	-14.186
Operational Profit (Loss)	159.9	202.58	-21.068
Net Profit (Loss) after Zakat and Tax	165.8	203.93	-18.697
Total Comprehensive Income	64.74	280.17	-76.892
Total Share Holders Equity (after Deducting Minority Equity)	1,951	2,068	-5.657
Profit (Loss) per Share	0.93	1.15
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
Increase (Decrease) in Net Profit for Current Year Compared to Last Year is Attributed to	Decrease of net profit during this period, In spite of the increase in other income is due to :

Reducing the prices of renting some units as a result of competition, For the purpose of preserving customers.

Increase in general and administrative expenses during the current period as a result of increasing expenses for provision for doubtful debts in accordance with IFRS No. 9.

Depreciation and financing costs increase as a result of the application of International Standard No. 16 as of January 1, 2019. Basis of the External Auditor's Opinion Unmodified opinion Reclassification of Comparison Items It has been reclassification comparative figures compatible with the display tab for the current period. Additional Information Effective January 1, 2019, the Company adopted IFRS 16(Leases ),For more information on the impact of this standard please refer to Note No. (3) attached to the financial statements for the year ended december 31,2019.

The capital was increased from 1,333,333,330 riyals to 1,777,777,770 riyals, and the earnings per share were calculated for the current period and the comparison period to reflect the increase in the company capital from 133,333,333 shares to 177,777,777 shares by bonus shares based on the decision of the Extraordinary General Assembly on 02/05/2019.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.