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Saudi Industrial Investment Group announces its Interim Financial Results for the Period Ending on 30-09-2019 ( Nine Months )

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 1,9582,297-14.7581,65118.594
Gross Profit (Loss) 491742-33.8274606.739
Operational Profit (Loss) 410749-45.26435-5.747
Net Profit (Loss) after Zakat and Tax 160319-49.843205-21.951
Total Comprehensive Income 160319-49.843205-21.951
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 5,6296,747-16.57
Gross Profit (Loss) 1,4682,228-34.111
Operational Profit (Loss) 1,2992,123-38.813
Net Profit (Loss) after Zakat and Tax 544839-35.16
Total Comprehensive Income 544839-35.16
Total Share Holders Equity (after Deducting Minority Equity) 7,1047,178-1.03
Profit (Loss) per Share 1.211.86
All figures are in (Millions) Saudi Arabia, Riyals
Element ListExplanation
Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to -The reasons for the decrease in the net income during the current quarter compared with the same quarter of the previous year are:

1. SIIGs share of profit of the projects managed jointly (SCP, JCP) has decreased in the current quarter to be SR 83 Million, compared to SR 177 Million for the same quarter of the previous year, as a result of a decreased in the prices of the products.

2. SIIGs share of profit of the National Petrochemical Company (Petrochem) has decreased in the current quarter to be SR 83 Million in the current quarter compared to SR 157 Million for the same quarter of the previous year.

Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to -The reasons for the decrease in the net income during the current quarter compared with the previous quarter are:

1. SIIGs share of profit of the projects managed jointly (SCP, JCP) has decreased in the current quarter to be SR 83 Million, compared to SR 112 Million for the previous quarter, as a result of a decrease in the prices of the products.

2. SIIGs share of profit of the National Petrochemical Company (Petrochem) has decreased in the current quarter to be SR 83 Million, compared to SR 96 Million in the previous quarter.

3. A decrease in the other income.

Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to - The reasons for the decrease in the net income during the current period compared with the same period in the previous year are:

1. SIIGs share of profit of the projects managed jointly (SCP, JCP) has decreased in the current period to be SR 285 Million, compared to SR 399 Million for the same period of the previous year, as a result of a decreased in the prices of the products.

2. SIIGs share of profit of the National Petrochemical Company (Petrochem) has decreased in the current period to be SR 268 Million in the current period compared to SR 460 Million for the same period of the previous year.

Basis of the External Auditor's Opinion Unmodified opinion
Reclassification of Comparison Items Certain prior period figures have been re-classified to confirm with the presentation in the current period.
Additional Information From January 1, 2019, the Company has adopted IFRS 16 with no material impact on its interim financial statements.

The Capital Market Authority and the Saudi Stock 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.

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