Astra Industrial Group — Earnings Release 2011

Feb 19, 2012

ASTRA INDUSTRIAL GROUP ANNOUNCES ITS AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2011

1212 · 19/02/2012 18:54:24 · Announcement #24170 · View on Saudi Exchange

ASTRA INDUSTRIAL GROUP ANNOUNCES ITS AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2011

Astra Industrial Group announces its Audited Financial results for the year ended 31 December 2011.

1.The net income of SAR 248 million for the year compared to SAR 259 million for the previous year, a decrease of 4%.

2.Earnings per share during the year is SAR 3.35 compared to SAR 3.49 for the previous year.

3.Gross profit of SAR 554 million for the year compared to SAR 485 million for the previous year, an increase of 14%.

4.Operating income of SAR 187 million for the year compared to SAR 175 million for the previous year, an increase of 7%.

5.The decrease in net income for the year ended 31 December 2011 compared to previous year is mainly due to non-recurring profit in 2010 Financial Statements from the sale of Arabian Company for Comforts & Pillows of SAR 29 Million. By deducting the effect of non-recurring profit, the current year income would be higher by 8%. The increase in gross profit and operating income for the year compared to the previous year, is mainly due to the increase in sales from all sectors. Operating income for year increased at a lower percentage than the increase in gross profit percentage due to marketing expenses related to new markets.

The decrease in net income by 1% (SAR 2.7 million) for the year ended 31 December 2011, compared to fourth quarter reviewed financial statements of the same year is mainly due to additional provisions for certain subsidiaries as a result of the final audit, subsequent to publishing the fourth quarter results.

During the year, some of the comparative figures for the year 2010 have been reclassified to conform with current year classification.

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.