Savola Group — Earnings Release 2013

Apr 13, 2013

The Savola Group Announces Its Interim Consolidated Financial Results for the Period Ended 31 March 2013 (THREE MONTHS)

2050 · 13/04/2013 09:01:55 · Announcement #30156 · View on Saudi Exchange

The Savola Group Announces Its Interim Consolidated Financial Results for the Period Ended 31 March 2013 (THREE MONTHS)

The Savola Group announces its interim consolidated financial results for the Period Ended 31 March 2013:

1) Savola reported a net income of SAR 295.2 Million for the first quarter ended 31 March 2013, an increase of 21.8% compared to SAR 242.3 Million reported for the same quarter last year, and a decrease of 28.6% compared to SAR 413.4 Million reported for the fourth quarter of last year.

2) Gross profit for the first quarter ended 31 March 2013 amounted to SAR 1.36 Billion an increase of 36.5% compared to SAR 996 Million for the same quarter last year.

3) Operating profit for the first quarter ended 31 March 2013 amounted to SAR 711.3 Million, an increase of 62% compared to SAR 438.9 Million reported for the same quarter last year.

4) Earnings per share for the first three months ended 31 March 2013 is SAR 0.59 as compared to SAR 0.48 for the same period last year.

5) The increase in the Groups net income for 1st quarter 2013 compared to the same quarter of last year is attributed mainly to stronger revenue growth in the Foods sector, led by the Edible Oils segment, and continued sales growth and increased market share in the Retail Sector (Panda Stores). As a result the Groups revenues for the quarter reached SAR 7.2 Billion, an increase of 9% compared to SAR 6.6 Billion for the same quarter last year.

6) The decrease in net income for 1st quarter 2013 as compared to the fourth quarter of last year was mainly due to the positive impact of general seasonal consumption factors on the 4th quarter results.

Dr. Abdulraouf M. Mannaa, Managing Director of Savola Group, would like to highlight that the 1st quarter net income reached SAR 295.2 Million which is 13.5% higher than the forecast of SAR 260 Million despite the challenges in overseas markets.

He indicated that Savola expects to achieve a net income before capital gains of SAR 365 Million for the second quarter of 2013, God willing.

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

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