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Saudi Industrial Investment Group announces its Interim Financial Results for the Period Ending on 2020-03-31 ( Three Months )

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 1,5152,020-251,806-16.112
Gross Profit (Loss) 247517-52.224407-39.312
Operational Profit (Loss) -73454-236-
Net Profit (Loss) after Zakat and Tax -174178-62-
Total Comprehensive Income -174178-26-
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Total Share Holders Equity (after Deducting Minority Equity) 6,6207,076-6.444
Profit (Loss) per Share -390.4
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 profit for the current quarter compared with the same quarter last year are:

1. SIIGs managed jointly projects have made losses of SR (189) million in the current quarter, compared to a profit of SR 91 Million in the same quarter last year, due to a large decrease in the products’ prices, as an effect of coronavirus pandemic on the global economy.

2. A decrease of SIIGs share of profit of the National Petrochemical Company (Petrochem) in the current quarter to be SR 24 Million, compared to SR 89 Million in the same quarter last year.

3. A decrease in the other income.

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

1. An increase of SIIGs managed jointly projects losses in the current quarter to be SR (189) million, compared to a loss of SR (11) Million in the previous quarter, due to a large decrease in the products’ prices, as an effect of coronavirus pandemic on the global economy.

2. A decrease of SIIGs share of the National Petrochemical Company (Petrochem) profit in the current quarter to be SR 24 Million, compared to SR 69 Million in the previous quarter.

3. A decrease in the other income.

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.

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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