Savola Group — Interim / Quarterly Report 2012

Oct 16, 2012

The Savola Group Announced Its Interim Consolidated Financial Results for the Period Ended 30 September 2012 (NINE MONTHS)

2050 · 16/10/2012 15:49:39 · Announcement #27323 · View on Saudi Exchange

The Savola Group Announced Its Interim Consolidated Financial Results for the Period Ended 30 September 2012 (NINE MONTHS)

The Savola Group announced its interim consolidated financial results for the period ended 30/9/2012, as follows:

1) Savola achieved net income of SR 405.2M for the 3rd quarter ended 30/9/2012 an increase of 31.6% compared to the same quarter last year of SR 307.9M and an increase of 18.7% compared to SR 341.3 M for the second quarter 2012.

2) Gross profit for the 3rd quarter ended 30/9/2012 amounted to SR 1,161M an increase of 18.2 % compared to same quarter last year of SR 982M.

3) Operating profit for the 3rd quarter ended 30/9/2012 amounted to SR 616.8M an increase of 30.7% compared to same quarter last year SR 471.8M.

4) Net income for the 9 months ended 30/9/2012 amounted to SR 988.9M, an increase of 40.5% compared to same period last year of SR 703.8M.

5) Earnings per share for the 9 months ended 30/9/2012 were SR 1.98 compared to SR 1.41 for the same period last year.

6) Gross profit for the 9 months ended 30/9/2012 amounted to SR 3,350M an increase of 19.3% compared to same period last year SR 2,808M.

7) Operating profit for 9 months ended 30/9/2012 amounted to SR1,660M an increase of 38.1%, compared to same period last year SR 1,202M.

The increase in Groups net income for 3rd quarter and the 9 month period ended 30/9/2012 as compared to same quarter and period last year is mainly due to good performance of its operations in Foods Sector, continued sales growth and increased market share in its Retail Sector, hence the Group generated revenues of SR 20.4 Billion for the nine month compared with SR 18.8 Billion for same period of last year, and capital gain of SR 46M due to sale of Emaar Economic City shares as part of Groups strategy to divest non-core investments. The increase in net income of the 3rd quarter compared to 2nd quarter of this year is due to the reasons mentioned above as well as the seasonal impact experience every year during this quarter.

Dr. Abdulraouf Mannaa, Managing Director of Group, highlighted that, the 3rd quarter net income before capital gain and exceptional item reached SR 358.4M which is 5.4% higher than the forecast of SR 340M.He also revealed that, Savola expects to achieve a net income before capital gain of SR 1.32 billion for the full year 2012, which is 10% over the original forecast of SR 1.2 billion.

Certain comparative figures have been reclassified to conform to this quarter & the current year presentation

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