Astra Industrial Group — Earnings Release 2014

Feb 25, 2015

Astra Industrial Group announces the annual financial results for the period ending on 31-12-2014

1212 · 25/02/2015 16:02:58 · Announcement #37375 · View on Saudi Exchange

Astra Industrial Group announces the annual financial results for the period ending on 31-12-2014

Element	Current year	Previous year	% Change
Net profit (loss)	109,331,339	253,138,076	-56.81
Earning or loss per share, Riyals	1.48	3.42	-
Gross profit (loss)	604,633,133	683,806,659	-11.58
Operational profit (loss)	59,896,410	177,036,633	-66.17

*All figures are in Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of annual financial results	Net profit decrease in general due to: A) Power and Steel sector mainly : a) Lower gross margins in steel structure business related to increase in project costs, additional provisions and lower sales b) Lower gross margins for project in Iraq due to higher production costs resulting from commercial startup with lower production and sales volumes due to the ongoing political instability B) Pharmaceutical Sector mainly : a) Decrease in other income b) Higher marketing expenses
Reclassifications in annual financial results	Certain comparative figures for the previous period have been reclassified to be consistent with the presentation of the current period.
Other notes	Year to date sales for 2014, compared to the same period of 2013, increased from SR 1,771 Million to SR 1,919 Million. Financial charges have increased mainly due to a change in accounting treatment in one of group subsidiary; where the financial charges was capitalized prior to the commencement of commercial production as per IAS 23 - Borrowing costs.

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.