Saudi Industrial Development Co. — Earnings Release 2021

Mar 31, 2021

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

2130 · 31/03/2021 08:08:37 · Announcement #62523 · View on Saudi Exchange

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

Element List	Current Year	Previous Year	%Change
Sales/Revenue	164.6	191.4	-14.002
Gross Profit (Loss)	35.6	33.2	7.228
Operational Profit (Loss)	-10.9	-45.5	-76.043
Net Profit (Loss) after Zakat and Tax	-3.2	-39.2	-91.836
Total Comprehensive Income	-3.3	-103.8	-96.82
Total Share Holders Equity (after Deducting Minority Equity)	210.4	217.9	-3.441
Profit (Loss) per Share	-0.08	-0.98
All figures are in (Millions) 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 decrease in net loss during the current period compared to the corresponding period of the previous year is due to the decrease in operating losses due to the decrease in production costs and operating expenses.
Statement of the type of external auditor's report	Other Matter
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion	We would like to refer to the case filed by the company, in which a former partner in the subsidiary companies demands financial compensation in exchange for excesses and financial dues, in which a decision was issued by the Executive Court to compensate the company with amounts equivalent to approximately (15,193,873) Saudi riyals
Reclassification of Comparison Items	Some of the comparative figures have been reclassified for the fiscal year ending on December 31, 2019, in line with the figures for the current year 2020

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