Savola Group — Interim / Quarterly Report 2012

Jul 21, 2012

The Savola Group Announced Its Interim Consolidated Financial Results for the Period Ended 30 June 2012 (FIRST SIX MONTHS)

2050 · 21/07/2012 09:53:11 · Announcement #26655 · View on Saudi Exchange

The Savola Group Announced Its Interim Consolidated Financial Results for the Period Ended 30 June 2012 (FIRST SIX MONTHS)

The Savola Group announced its interim cconsolidated financial results for the period ended 30 June 2012, as follows:

1) Savola achieved net income of SR 341.3 Million for the Second Quarter ended 30 June 2012 an increase of 48 % compared to the same quarter last year of SR 230.7 Million and an increase of 40.9% compared to SR 242.3 Million for the first quarter 2012.

2) Gross profit for second quarter ended 30 June 2012 amounted to SR 1.2 Billion an increase of 24.6 % compared to same quarter last year of SR 963.2 Million.

3) Operating profit for second quarter ended 30 June 2012 amounted to SR 603.8 Million, an increase of 42.6% compared to same quarter last year SR 423.4 Million.

4) Net income for the six months ended 30 June 2012 amounted to SR 583.6 Million an increase of 47.4% compared to same period last year of SR 395.9 Million.

5) Earnings per share for the six months ended 30 June 2012 were SR 1.17 compared to SR 0.79 for the same period last year.

6) Gross profit for the six months ended 30 June 2012 amounted to SR 2.2 Billion an increase of 22.2% compared to same period last year SR 1.8 Billion.

7) Operating profit for six months ended 30 June 2012 amounted to 1.04 Billion an increase of 42.4% compared to same period last year SR 730.1 Million.

The increase in Groups net income for 2nd quarter 2012 the six month period ended 30 June 2012 as compared to same quarter and period last year is mainly due to turnaround in profitability of its operations in Foods Sector, continued sales growth and increased market share in its Retail Sector, as a result the Group revenues for the six month ended 30 June 2012 reached SR 13.57 Billion an increase of 13.6% compared to the same quarter last year of SR 11.95 Billion. The increase in net income of the 2nd quarter compared to 1st quarter of this year is due to the reasons mentioned above as well as the seasonal impact experience every year.

Dr. Abdulraouf M. Mannaa, Managing Director of Savola Group, highlighted that the 2nd quarter net income reached SR341.3 Million which is 10% higher than the forecast of SR 310 Million.

InshaAllah, Savola expects to achieve a net income before capital gain of SR 340 million for third quarter of 2012, God willing.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.