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Astra Industrial 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 509,509,672470,182,1838.364445,175,32514.451
Gross Profit (Loss) 207,166,404187,626,45910.414167,757,58023.491
Operational Profit (Loss) 63,047,48150,051,11925.96652,753,07519.514
Net Profit (Loss) after Zakat and Tax 34,093,6038,907,048282.77119,636,11173.627
Total Comprehensive Income 23,640,77712,431,97790.161142,893,855-83.455
All figures are in (Actual) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Total Share Holders Equity (after Deducting Minority Equity) 1,238,922,1861,070,631,94315.718
Profit (Loss) per Share 0.430.11
All figures are in (Actual) 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 Net profit increases in general due to:

1. Increase in sales of the following segments:

a. Pharmaceuticals sector

b. Specialty Chemical sector

2. Decrease in financial charges in all segment

3. Non-recurring reversal of provision for impairment of financial assets expense in Power and Steel sector

While noting that there was a negative impact due to the increase in other expenses mainly in Pharmaceuticals and Specialty chemicals sector. In addition, there is increase in Selling and Distribution expenses in all sectors.

Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to Net profit increases in general due to:

1. Lower other expenses since in previous quarter there was:

a. Non-recurring negative impact as a result of the settlement of a subsidiary in Sudan in the pharmaceuticals sector the loan to its parent company in KSA realizing currency losses in the income statement.

b. Non-recurring positive impact in the previous quarter in other income from fair values remeasurement of the company’s investment and loans to Tanmiya for steel company in accordance with IFRS as compared to the book values, related to Tanmiya for steel company compliance with company laws as per the company’s announcement published on Tadawul on January first 2020

2. Increase in sales of the following segments:

a. Pharmaceuticals sector

b. Specialty Chemical sector

3. Non-recurring reversal of provision for impairment of financial assets expense in Power and Steel sector

While noting that there is increase in Zakat and Income tax expense since in previous quarter there was positive impact resulting from reversal of excess Zakat provisions based on the settlements that was reached with GAZT. In addition, there is increase in Selling and Distribution expenses in all sectors.

Basis of the External Auditor's Opinion Unmodified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion The external auditors have reviewed the interim consolidated financial statement and their conclusion is unmodified
Reclassification of Comparison Items Certain comparative figures for the previous period have been reclassified to be consistent with the presentation of the current period.
Additional Information Net Shareholders’ Equity at the end of the period was SR1,223,695,759/- compared to SR1,063,176,800/- at the end of the similar period last year with an increase of 13%.

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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