Molan Steel Co. announces its Annual Financial results for the period ending on 2023-12-31
- Date: 26-Mar-2024
- Source: Mubasher
- Sector:Financial Markets
- Country:Saudi Arabia
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