Molan Steel Co. announces its Annual Financial results for the period ending on 2023-12-31

Molan Steel Co. announces its Annual Financial results for the period ending on 2023-12-31

|Element List||Current Year||Previous Year||%Change|

|Sales/Revenue||89,696,660||84,620,334||6|

|Gross Profit (Loss)||4,140,116||5,318,763||-22.16|

|Operational Profit (Loss)||-3,390,809||-406,213||734.74|

|Net profit (Loss)||-4,786,703||-761,287||528.76|

|Total Comprehensive Income||-4,755,521||-771,132||516.69|

|Total Share Holders Equity (After Deducting the Minority Equity)||30,081,468||34,836,989||-13.65|

|Profit (Loss) per Share||-0.18||-0.03|

|All figures are in (Actual) Saudi Arabia, Riyals|

|Element List||Amount||Percentage of the capital (%)|

|Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value||-||-|

|Accumulated Losses||-1,787,529||6.72|

|All figures are in (Actual) Saudi Arabia, Riyals|

|Element List||Explanation|

|The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year|| The increase in revenue % compared to the last year is because of:

|

- Open a new branch in Dammam-

- Increase the quantity of the sales (ton) in Riyadh and Jeddah branches.

|The reason of the increase (decrease) in the net profit during the current year compared to the last year is|| - Selling prices decreased by 25% compared to the previous year.

|

- The cost of financing increased by 90.56% compared to the previous year.

|Statement of the type of external auditor's report||Unmodified opinion|

|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)||NA|

|Reclassification of Comparison Items||NA|

|Additional Information||Although the company's sales of tons (tons) increased by 40% and 6% in value (SAR) compared to the previous year, the