Saudi Arabian Mining Co. — Earnings Release 2012

Jul 10, 2012

SAUDI ARABIAN MINING COMPANY (MAADEN) ANNOUNCES ITS ESTIMATED CONSOLIDATED FINANCIAL RESULTS FOR THE PERIOD ENDED 30 JUNE 2012 (SIX MONTHS). (to be continued)

1211 · 10/07/2012 10:17:25 · Announcement #26367 · View on Saudi Exchange

SAUDI ARABIAN MINING COMPANY (MAADEN) ANNOUNCES ITS ESTIMATED CONSOLIDATED FINANCIAL RESULTS FOR THE PERIOD ENDED 30 JUNE 2012 (SIX MONTHS). (to be continued)

5. The estimated basic and diluted earnings per share (EPS) for the six months ended 30 June 2012 amounted to SAR 0.40 per share compared to the actual earning per share of SAR 0.11 for the same period of 2011.

6. The estimated Gross Profit for the first six months ended 30 June 2012 amounted to SAR 798 million, compared to the actual Gross Profit of SAR 288 million for the same period of 2011 of representing an increase of 177 %.

7. The estimated Operating Income for the first six months ended 30 June 2012 amounted to SAR 608 million, compared to the actual Operating Income of SAR 109 millions for the same period of 2011 representing an increase of 457%.

8. The increase in the estimated Net Income for the second quarter and six months period ended 30 June 2012 compared to the actual for the same period of 2011 is attribute to the beginning of commercial production of ammonia and DAP for Maaden Phosphate Company, an increase in the average realized price per ounce of gold sold, an increase in quantity of gold sold. The Net Income improvement was achieved despite the increase in financial charges related to MPC and increase in Zakat provision.

The decrease in the estimated Net Income for the second quarter 2012 compared to the actual Net Income for the first quarter of 2012 is attributed to the lower quantity of gold sold, the reduction in DAP prices and higher Zakat provisions.

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