Saudi Arabian Mining Co. — Interim / Quarterly Report 2012

Oct 10, 2012

SAUDI ARABIAN MINING COMPANY (MAADEN) ANNOUNCES ITS INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDED 30 SEPTEMBER 2012 (NINE MONTHS)

1211 · 10/10/2012 15:58:41 · Announcement #27219 · View on Saudi Exchange

SAUDI ARABIAN MINING COMPANY (MAADEN) ANNOUNCES ITS INTERIM FINANCIAL RESULTS FOR THE PERIOD ENDED 30 SEPTEMBER 2012 (NINE MONTHS)

1. The Net Income attributed to the shareholders of the parent company, for the third quarter ended 30 September 2012 amounted to SAR 311 million, compared to the Net Income of SAR 27 million for the same quarter of 2011 representing an increase of 1052% and compared to Net Income of SAR 128 million for the second quarter 2012 representing an increase of 143%.

2. The Gross Profit for the third quarter ended 30 September 2012 amounted to SAR 591 million, compared to the gross profit of SAR 126 million for the same quarter of 2011 representing an increase of 369% .

3. The Operating Income for the third quarter ended 30 September 2012 amounted to SAR 481 million, compared to the Operating Income of SAR 43 million for the same quarter of 2011 representing an increase of 1019%.

4. The Net Income attributed to the shareholders of the parent company for the nine months ended 30 September 2012 amounted to SAR 685 million, compared to the Net Income of SAR 134 million for the same period of 2011 representing an increase of 411%.

5. The basic and diluted earnings per share (EPS) for the nine months ended 30 September 2012 amounted to SAR 0.74 per share compared to the earning per share of SAR 0.14 for the same period of 2011.

6. The Gross Profit for the nine months ended 30 September 2012 amounted to SAR 1,339 million, compared to the Gross Profit of SAR 377 million for the same period of 2011 representing an increase of 255%.

7. The Operating Income for the nine months ended 30 September 2012 amounted to SAR 1,040 million, compared to the Operating Income of SAR 114 million for the same period of 2011 representing an increase of 812%.

8. The increase in the Net Income for the third quarter and nine months period ended 30 September 2012 compared to the same period of 2011 is attributed to the beginning of commercial production of ammonia and DAP. Furthermore, the increase in the Net Income for the third quarter ended 30 September 2012 compared with the second quarter is attributed to higher realized price and quantity sold of DAP, ammonia and gold.

Please note that certain assets have been reclassified in the statement of financial position for the period ended 30/09/2011 to make it consistent with the presentation of the financial position of this quarter and the current year. This change has no financial impact on net assets or net income for the current period and prior periods.

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