Saudi Cement Co. — Interim / Quarterly Report 2017

May 10, 2017

Saudi Cement Company. announces the interim financial results for the period ending on 31-03-2017 (Three Months)

3030 · 10/05/2017 08:24:52 · Announcement #46890 · View on Saudi Exchange

Saudi Cement Company. announces the interim financial results for the period ending on 31-03-2017 (Three Months)

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	165	263	-	187	-
Gross profit (loss)	191	295	-	221	-
Operational profit (loss)	168	271	-	195	-
Earning or loss per share, Riyals	1.08	1.72	-	-	-
All figures are in (Millions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	The reason of decrease in net profit is due to the decrease in sales quantities and value as a result of decrease in local demand on cement.
Reasons of increase (decrease) for period compared with same period last year	The reason of decrease in net profit is due to the decrease in sales quantities and value as a result of decrease in local demand on cement.
Reclassifications in quarterly financial results	Comparative previous quarter figures were re-computed and reclassified to comply with current period presentation which was prepared based on IFRS.
Other notes	-Total sales for current quarter was SR 346 Million compared with SR 507 Million for the same quarter of last year, a decrease of 32%. -Total Comprehensive Income for the current quarter was 165 Million compared with 263 Million for the same quarter of last year, decrease of 37.26% and compared with last quarter comprehensive income of SR 187 Million, decrease of 11.76%. -Total Shareholder Equity ( no Minority Interest) for current period is SR 3,354 Million compared with SR 2,963 Million for the same quarter of last year, increase of 13.20%. - on January 1, 2017 the company has adopted IFRS and based on that the presentation, measurement, recognition and disclosure for some of financial data has been changed to comply with IFRS accounting policies adopted in the Kingdom. No significant changes in Q1,2016 and yearend 2016 results from IFRS adoption.

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