31 JAN 2024
| Element List | Current Quarter | Similar Quarter For Previous Year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 2,023.44 | 2,717.5 | -25.54 | 2,026.66 | -0.158 |
| Gross Profit (Loss) | 516.43 | 684.76 | -24.582 | 360.74 | 43.158 |
| Operational Profit (Loss) | 581.9 | 760.07 | -23.441 | 446.86 | 30.219 |
| Net profit (Loss) | 401.23 | 578.12 | -30.597 | 224.34 | 78.849 |
| Total Comprehensive Income | 385.51 | 576.56 | -33.136 | 225.43 | 71.01 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar Period For Previous Year | %Change |
|---|---|---|---|
| Sales/Revenue | 8,777.5 | 8,582.58 | 2.271 |
| Gross Profit (Loss) | 2,073.13 | 1,471.13 | 40.92 |
| Operational Profit (Loss) | 2,249.33 | 1,493.29 | 50.629 |
| Net profit (Loss) | 1,613.43 | 1,040.91 | 55.001 |
| Total Comprehensive Income | 1,593.52 | 1,075.13 | 48.216 |
| Total Share Holders Equity (After Deducting the Minority Equity) | 11,838.58 | 10,491.15 | 12.843 |
| Profit (Loss) per Share | 2.19 | 1.41 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Percentage Of The Capital (%) | Amount | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | The main reason for the decrease in revenue during the current quarter compared with same quarter of last year is:
- The decrease in revenue of some sectors, especially Oil transportation sector whose revenue decreased by an amount of SAR 737 million due to the drop of global shipping rates during the current quarter compared with same quarter last year. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The main reason for the decrease in net profit during the current quarter compared to the same quarter of last year is:
- The decrease in gross profit by an amount of SAR 168 million due to the drop of global shipping rates during the current quarter compared with same quarter last year. - The increase in the finance costs by an amount of SAR 30 million due to the increase in interest rates.
While limiting the decrease in net profits, the increase in the Company’s share in results of equity accounted investee companies by an amount of SAR 41 million during the current quarter compared with same quarter last year. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The main reason for the decrease in revenue in the current quarter compared with previous quarter is:
- The decrease in revenue of some sectors, especially Oil transportation sector whose revenue decreased by an amount of SAR 172 million due to the drop of global shipping rates during the current quarter compared with previous quarter, offset with the increase in revenue of chemicals transportation sector by an amount SAR 98 million and Logistics sector by an amount of SAR 72 million due to the increase in operation activities as well as the increase in global shipping rates during the current quarter compared with previous quarter. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The main reason for the increase in net profit in the current quarter compared with previous quarter is:
- The increase in gross profit by an amount of SAR 156 million due to the improvement of operations performance in multiple sectors of the Group, where the Oil transportation sector gross profit increased by an amount of SAR 64 million, Logistics sector by SAR 63 million and Chemicals transportation sector by SAR 31 million during the current quarter compared with previous quarter. - The increase in the Company’s share in results of equity accounted investee companies by an amount of SAR 58 million during the current quarter compared with the previous quarter. - The increase in other income by an amount of SAR 33 million during the current quarter compared with the previous quarter, which is mainly due to the realized capital gain by an amount of SAR 87 million (Comparing with SAR 38 million in previous quarter) from sale of vessels within the fleet modernization plan. - The decrease in the finance costs by an amount of SAR 21 million during the current quarter compared with the previous quarter.
While limiting the increase in net profits, the increase in general and administrative expenses by an amount of SAR 39 million during the current quarter compared with previous quarter. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | The main reason for the increase in revenue during the current period compared with same period of last year is:
- The improvement of Chemicals transportation sector performance whose revenue increased by an amount of SAR 665 million due to the increase in operation activities as well as the increase in global shipping rates during the current period compared with same period last year, offset by the decrease in revenue of some sectors especially Oil transportation sector whose revenue decreased by an amount of SAR 323 during this period compared with same period last year. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The main reason for the increase in net profit during the current period compared with same period of last year is:
- The increase in gross profit by an amount of SAR 602 million due to the improvement of operations performance in multiple sectors of the Group, where the Oil transportation sector gross profit increased by an amount of SAR 354 million, and Chemicals transportation sector by SAR 349 million during the current period compared with same period of last year. - The increase in other income by an amount of SR 223 million during the current period compared with same period of last year which is mainly due to the realized capital gain by an amount of SR 214 million (Comparing with SAR 160 million in same period of last year) from sale of vessels within the fleet modernization plan, in addition to the collection of insurance claims by an amount of SR 93 million (Comparing with SAR 17 million in same period of last year) as well as the increase in income from Murabaha deposits by an amount of SAR 80 million (Comparing with SAR 10 million in same period of last year). - The increase in the Company’s share in results of equity accounted investee companies by an amount of SR 207 million profits during the current period compared with same period of last year.
While limiting the increase in net profits, the increase in the finance cost by an amount of SR 324 million due to the increase in interest rates during the current period compared with same period of last year. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | None |
| Reclassification of Comparison Items | Certain comparative figures of the prior period have been reclassified to match with the presentation of the current period. |
| Additional Information | None |