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Electrical Industries Co. — Earnings Release 2020
Mar 16, 2021
53270_rns_2021-03-16_b1b9d135-51fe-4387-85e9-6766e025e516.html
Earnings Release
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Electrical Industries Co. announces its Annual Financial Results for the Period Ending on 2020-12-31
1303 · 16/03/2021 16:04:21 · Announcement #62277 · View on Saudi Exchange
Electrical Industries Co. announces its Annual Financial Results for the Period Ending on 2020-12-31
| Element List | Current Year | Previous Year | %Change |
|---|---|---|---|
| Sales/Revenue | 648,686 | 577,556 | 12.315 |
| Gross Profit (Loss) | 109,100 | 50,706 | 115.161 |
| Operational Profit (Loss) | 42,168 | -19,362 | - |
| Net Profit (Loss) after Zakat and Tax | 23,923 | -40,193 | - |
| Total Comprehensive Income | 20,061 | -44,182 | - |
| Total Share Holders Equity (after Deducting Minority Equity) | 565,516 | 551,989 | 2.45 |
| Profit (Loss) per Share | 0.53 | -0.89 | |
| All figures are in (Thousands) 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 increase in Net, Gross and Operating profit is mainly attributed to the following: |
1- Increase in sales from SR 577,6 Million to SR 648,7 Million and the diversification of sold products which includes products with higher profitability. In addition to improvement of Gross Margin in certain products.
2- Decrease in Selling and Distribution expenses from SR 30,9 Million to SR 27,6 Million.
3- Decrease in Financial costs from SR 11,1 Million to SR 7,5 Million due to lower cost and level of finance. Statement of the type of external auditor's report Unmodified opinion Reclassification of Comparison Items Certain comparative figures for the previous period has been reclassified to be consistent with the current period.
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.