Saudi Industrial Investment Group announces its Annual Financial results for the period ending on 2023-12-31

Saudi Industrial Investment Group announces its Annual Financial results for the period ending on 2023-12-31

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

|Sales/Revenue||-||-||-|

|Gross Profit (Loss)||-||-||-|

|Operational Profit (Loss)||125||422||-70.38|

|Net profit (Loss)||112||277||-59.57|

|Total Comprehensive Income||90||376||-76.06|

|Total Share Holders Equity (After Deducting the Minority Equity)||10,023||10,687||-6.21|

|Profit (Loss) per Share||0.15||0.41|

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

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

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

|All figures are in (Millions) 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||Since the Saudi Industrial Investment Group Company follows the equity method when accounting for its investments in the joint venture companies, The items “Sales/Revenue and Gross profit” do not appear in the profit or loss statement.|

|The reason of the increase (decrease) in the net profit during the current year compared to the last year is|| The reasons for the decrease in the net income during the current year compared to last year are:

|

SIIG’s share of profit of the joint ventures has decreased due to:

• A decrease in the selling prices, across all products.

• The unplanned shutdown of the project “Saudi Polymer Company” during the current year.

Note that there were:

- An increase in the financing income “Murabaha”.

- A decrease in the general and administrative expenses.

|Statement of the type of external auditor's