National Industrialization Co. — Earnings Release 2013

Jan 21, 2014

National Industrialization Co announces the interim Consolidated financial results for the period ending on 31-12-2013 (Twelve Months)

2060 · 21/01/2014 08:28:16 · Announcement #33047 · View on Saudi Exchange

National Industrialization Co announces the interim Consolidated financial results for the period ending on 31-12-2013 (Twelve Months)

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	300.1	242	24.01	226.4	32.55
Gross profit (loss)	1,254	1,244.6	0.76	1,190.1	5.37
Operational profit (loss)	749.2	842.8	-	762.2	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Net profit (loss)	1,185	1,763.9	-
Gross profit (loss)	4,813.3	5,568.8	-
Operational profit (loss)	3,090.7	4,110.7	-
Earning or loss per share, Riyals	1.77	2.64	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	were due to the increase of sales and productions quantities in the petrochemicals sector/slight increase in the selling prices and lower finance charge and the Zakat & Tax.
Reasons of increase (decrease) for period compared with same period last year	were due to decrease of the profit in Titanium Dioxide sector due to decrease of the selling prices and decrease of the sales and production quantities in the petrochemical sector in spite of the increase in selling prices.
Reasons of increase (decrease) for quarter compared with previous quarter	were due to the increase of sales and productions quantities in the petrochemicals sector in addition to provision for the settlement of a case against one of subsidiaries company in the last quarter.
Reclassifications in quarterly financial results	some corresponding figures for the last year have been reclassified to be aligned with the presentation of the current year.

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.