03 AUG 2021
| ELEMENT LIST | CURRENT QUARTER | SIMILAR QUARTER FOR PREVIOUS YEAR | %CHANGE | PREVIOUS QUARTER | % CHANGE |
|---|---|---|---|---|---|
| Sales/Revenue | 1,294.76 | 3,532.43 | -63.346 | 1,189.2 | 8.876 |
| Gross Profit (Loss) | 127.27 | 962.64 | -86.779 | 84.2 | 51.152 |
| Operational Profit (Loss) | 99.58 | 915.36 | -89.121 | 61.37 | 62.261 |
| Net Profit (Loss) after Zakat and Tax | 38.91 | 760.61 | -94.884 | 43.56 | -10.674 |
| Total Comprehensive Income | 42.82 | 757.82 | -94.349 | 50.42 | -15.073 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| ELEMENT LIST | CURRENT PERIOD | SIMILAR PERIOD FOR PREVIOUS YEAR | %CHANGE |
|---|---|---|---|
| Sales/Revenue | 2,483.96 | 5,614.61 | -55.758 |
| Gross Profit (Loss) | 211.47 | 1,523.96 | -86.123 |
| Operational Profit (Loss) | 160.94 | 1,421.15 | -88.675 |
| Net Profit (Loss) after Zakat and Tax | 82.47 | 1,179.83 | -93.01 |
| Total Comprehensive Income | 93.24 | 1,177.55 | -92.081 |
| Total Share Holders Equity (after Deducting Minority Equity) | 9,689.17 | 9,995.97 | -3.069 |
| Profit (Loss) per Share | 0.21 | 3 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| ELEMENT LIST | EXPLANATION |
|---|---|
| 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, was because of the significant decrease in revenues from the oil sector by (74%), due to the significant decline in global shipping rates in addition to the decline in shipping operations.
Nevertheless, the decrease in zakat and income tax and financing expenses as well as the increase in bunker subsidy and other income, contributed to reduce the impact of the decline in net profit during current quarter compared to the same quarter last year. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is | The main reason for the decrease in net profit in the current quarter compared to the previous quarter is mainly due to reduction in profits from the group's share of investments in associate companies by 94%, which represents about SAR 46 million, in addition to the increase in the provision on trade receivables and contract assets during the current quarter.
This drop was limited by the improved performance of logistics sector and dry bulk shipping sector as well as the increase of bunker subsidy and other income during the current quarter compared to the previous quarter. |
| 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 decrease in net profit during the current period compared to the same period of last year is due to the decrease in revenues from several sectors, significantly from the oil sector, where its revenue has been decreased by 67% compared to the same period of last year, due to the significant decline in global shipping rates in addition to the decline in shipping operations.
Nevertheless, the increase in bunker subsidy and other income along with decrease in zakat and income tax, financing expenses and the provision on trade receivables and contract assets, have contributed to reduce the impact of the decline in net profit during this period compared to the same period of last year. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor 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 |