Saudi Arabian Mining Co. — Interim / Quarterly Report 2012

Jul 16, 2012

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

1211 · 16/07/2012 15:39:13 · Announcement #26431 · View on Saudi Exchange

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

1. The Net Income attributable to the shareholders of the parent company, for the second quarter ended 30 June 2012 amounted to SAR 128 million, compared to the actual Net Income of SAR 63 millions for the same quarter of 2011 representing an increase of 103 % and compared to the actual net income of SAR 246 millions for the first quarter 2012 representing a decrease of 48%.

2. The Gross Profit for the second quarter ended 30 June 2012 amounted to SAR 340 million, compared to the actual gross profit of SAR 160 million for the same quarter of 2011 representing an increase of 112% .

3. The Operating Income for the second quarter ended 30 June 2012 amounted to SAR 247 million, compared to the actual Operating Income of SAR 72 millions for the same quarter of 2011 representing an increase of 243%.

4. The Net Income attributable to the shareholders of the parent company for the first six months ended 30 June 2012 amounted to SAR 374 million, compared to the actual Net Income of SAR 106 millions for the same period of 2011 representing an increase of 253%.

5. The 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 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 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 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 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.

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.