Savola Group — Earnings Release 2012

Apr 17, 2012

The Savola Group Announced Its Interim Consolidated Financial Results for the Period Ended 31 March 2012 (FIRST THREE MONTHS)

2050 · 17/04/2012 16:31:41 · Announcement #25282 · View on Saudi Exchange

The Savola Group Announced Its Interim Consolidated Financial Results for the Period Ended 31 March 2012 (FIRST THREE MONTHS)

1) Savola achieved net income of SR 242.3 Million for the first quarter ended March 31, 2012, an increase of 46.7% compared to the same quarter last year of SR 165.2 Million, and a decrease of 51.4% compared to SR 498.6 Million of the fourth quarter last year.

2) Gross profit for first quarter ended 31 March 2012 amounted to SR 996 Million an increase of 15% compared to same quarter last year SR 866 Million.

3) Operating profit for first quarter ended 31 March 2012 amounted to SR 439 Million, an increase of 43% compared to same quarter last year SR 307 Million.

4) Earnings per share for the first three months ended 31 March 2012 is SR 0.48 as compared to SR 0.33 for the same period last year.

5) The increase in Groups net income for 1st quarter 2012 attributed mainly due to turnaround in profitability of start-ups and overseas operations of Foods Sector, continued sales growth and increased market share in Retail Sector, as a result the Groups revenues for 1st quarter ended 31 March 2012 reached to SR 6.6 Billion, an increase of 17.9% compared to same quarter last year of SR 5.6 Billion. The decrease in net income for 1st quarter 2012 as compared to fourth quarter of last year was mainly due to the capital gains on sale of lands amounting to SR 153 Million during 4th quarter 2011.

Dr. Abdulraouf M. Mannaa, Managing Director of Savola Group, would like to highlight that the 1st quarter net income reached SR 242.3 Million which is 10% higher than the forecast of SR 220 Million despite challenges in the overseas markets and increase in raw materials prices.

Savola expects to achieve a net income before capital gain of SR 310 Million for second quarter of 2012, God willing.

Certain comparative figures have been reclassified to conform to this quarter presentation.

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