Saudi Arabian Amiantit Co. announces its Interim Financial Results for the Period Ending on 2022-03-31 ( Three Months )

Saudi Arabian Amiantit Co. announces its Interim Financial Results for the Period Ending on 2022-03-31 ( Three Months )

|Element List||Current Quarter||Similar quarter for previous year||%Change||Previous Quarter||% Change|

|Sales/Revenue||119,517||114,564||4.323||117,143||2.026|

|Gross Profit (Loss)||9,181||-18,333||-||244||3,662.704|

|Operational Profit (Loss)||3,465||-49,967||-||-20,425||-|

|Net Profit (Loss) after Zakat and Tax||-5,980||-1,345||344.609||-23,520||-74.574|

|Total Comprehensive Income||-15,879||-19,923||-20.298||-36,771||-56.816|

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

|Element List||Current Period||Similar period for previous year||%Change|

|Total Share Holders Equity (after Deducting Minority Equity)||-63,862||128,656||-|

|Profit (Loss) per Share||-0.61||-0.14|

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

|Accumulated Losses||Capital||Percentage %|

|-28,614||99,000||-28.9|

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

|Element List||Explanation|

|The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is|| An increase in net losses for the current quarter compared to the same quarter of the previous year, which is mostly attributed to:

|

• Recorded accounting profits in the same quarter of the previous year against settlement discounts for some outstanding obligations with some banks, amounting to approximately 20.1 million Saudi riyals, compared by nil in the current quarter.

• Recorded accounting profits in the same quarter of the previous year as a result of reversing some fixed provisions in previous years in the same quarter of the previous year, amounting to 27 million Saudi riyals approximately, compared by nil in the current quarter.

And despite that, the following reasons positively affected the current quarter's net loss:

• Sales continued