Saudi Arabian Amiantit Co. announces its Interim Financial Results for the Period Ending on 2022-06-30 ( Six Months )

Saudi Arabian Amiantit Co. announces its Interim Financial Results for the Period Ending on 2022-06-30 ( Six Months )

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

|Sales/Revenue||121,636||111,094||9.49||119,517||1.77|

|Gross Profit (Loss)||4,597||-24,824||-||9,181||-49.93|

|Operational Profit (Loss)||-16,233||-47,760||-66.01||3,465||-|

|Net Profit (Loss) after Zakat and Tax||-4,038||-59,105||-93.17||-5,980||-32.47|

|Total Comprehensive Income||-27,431||-51,336||-46.56||-15,879||72.75|

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

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

|Sales/Revenue||241,153||225,658||6.87|

|Gross Profit (Loss)||13,778||-43,157||-|

|Operational Profit (Loss)||-12,768||-97,727||-86.94|

|Net Profit (Loss) after Zakat and Tax||-10,018||-60,450||-83.43|

|Total Comprehensive Income||-43,310||-71,259||-39.22|

|Total Share Holders Equity (after Deducting Minority Equity)||283,527||457,004||-37.96|

|Profit (Loss) per Share||-1.02||-6.14|

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

|Accumulated Losses||Capital||Percentage %|

|-33,612||99,000||-33.95|

|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|| A decrease in net loss for the current quarter was achieved by 95% compared to the same quarter of the previous year, mostly due to:

|

• Continued sales growth, as Amiantit Company recorded an increase in revenues during the current quarter amounting to 10.5 million Saudi riyals, an increase of 9% over the revenues of the same quarter of the previous year due to the cumulative balance of business carried over during the Corona pandemic period, and an increase in the volume of new orders, and the company's efforts to reduce costs Sales of SAR 18.9 million compared to the same quarter of the previous