Saudi Industrial Development Co. — Interim / Quarterly Report 2021

Aug 17, 2021

Saudi Industrial Development CO (SIDC) announces its Interim Financial Results for the Period Ending on 2021-06-30 ( Six Months )

2130 · 17/08/2021 08:16:56 · Announcement #64579 · View on Saudi Exchange

Saudi Industrial Development CO (SIDC) announces its Interim Financial Results for the Period Ending on 2021-06-30 ( Six Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	41.9	41.6	0.721	45.5	-7.912
Gross Profit (Loss)	7.2	11.1	-35.135	7.9	-8.86
Operational Profit (Loss)	-4.2	3	-	-2.3	82.608
Net Profit (Loss) after Zakat and Tax	-4.3	4.3	-	-1.7	152.941
Total Comprehensive Income	3.1	10.2	-69.607	3.3	-6.06
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	87.5	81.9	6.837
Gross Profit (Loss)	16.3	18.9	-13.756
Operational Profit (Loss)	-6.5	-1.3	400
Net Profit (Loss) after Zakat and Tax	-6.1	-5.7	7.017
Total Comprehensive Income	6.4	-5.9	-
Total Share Holders Equity (after Deducting Minority Equity)	216.8	212.1	2.215
Profit (Loss) per Share	-0.15	-0.14
All figures are in (Millions) Saudi Arabia, Riyals

	Accumulated Losses	Capital	Percentage %
	28.97	400	7.24
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	The reason for the net loss of the company during the second quarter of 2021 compared to the second quarter of the previous year 2020 is due to the increasing in operating expenses.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is	The reason for increasing net loss of the company during the second quarter of 2021 compared to the first quarter of the current year is due to the decreasing in sales and increasing in operating expenses.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	The reason for increasing net loss of the company during the first six months of 2021 compared to the same period of the previous year 2020 is due to the increase in 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 note number 18 that the case filed by the company, in which the company demand a claim from a former partner in one of the subsidiary companies financial compensations in exchange for excesses and financial dues, according to the decision was issued by the Executive Court to compensate the company with amounts equivalent to (15,193,873) Saudi riyals
Reclassification of Comparison Items	There is no reclassification of comparative figures during the current Quarter

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