Saudi Ceramic Co. — Earnings Release 2020

Feb 16, 2021

Saudi Ceramic Co. announces its Annual Financial Results for the Period Ending on 2020-12-31

2040 · 16/02/2021 09:27:56 · Announcement #61942 · View on Saudi Exchange

Saudi Ceramic Co. announces its Annual Financial Results for the Period Ending on 2020-12-31

Element List	Current Year	Previous Year	%Change
Sales/Revenue	1,516,060	1,235,085	22.749
Gross Profit (Loss)	391,931	326,574	20.012
Operational Profit (Loss)	126,640	60,389	109.707
Net Profit (Loss) after Zakat and Tax	77,700	7,150	986.713
Total Comprehensive Income	76,246	4,519	1,587.231
Total Share Holders Equity (after Deducting Minority Equity)	1,485,323	1,409,077	5.411
Profit (Loss) per Share	1.31	0.12
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current year compared to the last year is	The reason for the improvement in performance and the increase in net profit during the current year compared to the previous year is due to the following reasons:

• Increase in revenues resulting from improvement in sales and profit margins as a result of the increase in prices and the quantity sold.

• Reduction in selling and administrative expenses.

• Low finance costs due to the repayment of a large portion of the loans and low interest rates.

It should be noted that the improvement in performance during the current year was achieved despite the company making write-offs and additional provisions compared to the previous year. Statement of the type of external auditor's report Unmodified opinion Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion None Reclassification of Comparison Items Certain comparative figures have been reclassified to conform to the current year presentation. For more details, please refer to note 27 in the consolidated financial statements for the year ending December 31, 2020 Additional Information The operating profit for the year ended 31 December 2019 has been adjusted due to reclassification of other operating income by separating other income as non-operating income in line with the current year presentation in the consolidated financial statements. For more details, please refer to note 27 in the consolidated financial statements for the year ending December 31, 2020

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