Saudi Industrial Development Co. — Earnings Release 2022

May 7, 2023

Saudi Industrial Development Company (SIDC) Announces Its Consolidated Financial Results for the Year Ended on 31/12/2022AD (Twelve Months).

2130 · 07/05/2023 15:55:44 · Announcement #73439 · View on Saudi Exchange

Saudi Industrial Development Company (SIDC) Announces Its Consolidated Financial Results for the Year Ended on 31/12/2022AD (Twelve Months).

Element List	Current Year	Previous Year	%Change
Sales/Revenue	155.35	163.08	-4.74
Gross Profit (Loss)	22.06	26.81	-17.72
Operational Profit (Loss)	-41.86	-28.78	45.45
Net Profit (Loss) after Zakat and Tax	-38.77	-24.5	58.24
Total Comprehensive Income	-37.1	-6.4	479.69
Total Share Holders Equity (after Deducting Minority Equity)	166.91	204.01	-18.18
Profit (Loss) per Share	-0.97	-0.61
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 increase in net loss during this year compared to the previous year is due to the increase in operating expenses, an increase in production costs, decrease in non-operating revenues and recording an impairment in Plant Property Equipment (PPE).
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	The Group's consolidated financial statements for the year ended 31 December 2021 were examined by another External Auditor, who expressed a qualified opinion on those consolidated financial statements in a report dated 28 Sha 'ban 1443 AH corresponding to 31 March 2022AD.
Reclassification of Comparison Items	Some comparison figures for the financial year ended December 31, 2021AD have been reclassified to be consistent with the current year's figures.

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.