Savola Group — Interim / Quarterly Report 2011

Oct 17, 2011

Savola announced its interim consolidated financial results for the period ended 30 September 2011 (nine months):

2050 · 17/10/2011 17:11:08 · Announcement #22932 · View on Saudi Exchange

Savola announced its interim consolidated financial results for the period ended 30 September 2011 (nine months):

Savola announced its interim consolidated financial results for the period ended 30 September 2011:

1) For third quarter ended 30 Sept. 2011, Savola achieved net income of SR 307.9 Million, an increase of 8.8 % compared to the same period last year of SR283.0 Million and an increase of 33.4% compared to the Second quarter 2011 which was 230.7 Million.

2) Gross profit for third quarter ended 30 Sept. 2011 amounted to SR982.0 Million, increase of 8.4 % compared to same period last year SR 906.1 Million.

3) Operating profit for third quarter ended 30 Sept. 2011 amounted to SR471.8 Million, increase of 10.7% compared to same period last year SR 426.2 Million.

4) Net income for nine months ended 30 Sept. 2011 amounted to SR 703.8 Million, decrease of 20.4 % compared to same period last year SR884.7 Million.

5) Earnings per share for the nine months ended 30 Sept. 2011 were SR 1.41 as compared to SR 1.77 for same period last year.

6) Gross profit for nine months ended 30 Sept. amounted to SR 2.81 Billion increase of 16.1 % compared to same period last year SR2.42 Billion.

7) Operating profit for nine months ended 30 Sept. amounted to SR 1.20 Billion, increase of 13.2% compared to same period last year SR 1.06 Billion.

8) Dr. Abdulraouf M. Mannaa, Managing Director of Savola Group, declares that the Group has achieved the highest ever quarterly net income for the third quarter and net income before capital gains for the nine months period in the history of the Group. It is worth to mention that revenues for nine months ended 30 September amounted to SR18.8 Billion increase of 22.9 % compared to same period last year SR15.3 Billion. The increase in the Groups net income for the quarter ended 30th September 2011, compared to same period of last year, is attributable mainly to the continued sales growth and increased market share in the retail and food sectors. The decrease in the Groups net income for nine months ended 30th September 2011 compared to same period of last year is due to the capital gain of SR195 million from 30% of Herfy Foods Co. IPO (which the Group owns a major stake) during first quarter of 2010.

InshaAllah, Savola expects to achieve a net income before capital gain of SR 296 Million for fourth quarter of 2011, God willing, which is in line with full 2011 forecasted net income before capital gain of SR 1Billion. Note certain

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