Saudi Arabian Mining Company (Ma'aden) announces its Annual Financial results for the period ending on 2023-12-31
- Date: 26-Feb-2024
- Source: Mubasher
- Sector:Oil & Gas
- Country:Saudi Arabia
Saudi Arabian Mining Company (Ma'aden) announces its Annual Financial results for the period ending on 2023-12-31
Total Share Holders Equity (After Deducting the Minority Equity)
46,423,296,016
45,069,189,616
Profit (Loss) per Share
0.43
2.52
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
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 sales during the current year decreased by SAR 11 billion (27%) compared to last year, which is mainly due to lower commodity prices for all products except gold. This decrease in sales was partially offset by higher sales volumes of ammonia phosphate fertilizer, alumina and gold.
The reason of the increase (decrease) in the net profit during the current year compared to the last year is
Net profit for the current year decreased by SAR 7.7 billion (83%) compared to the last year, which is due to lower gross profit by SAR 9.3 billion (57%) mainly as a result of decline in sales on the back of lower commodity market prices of all products except gold. Net profit was also impacted by higher finance cost due to increased borrowing rates and lower share of profit from joint ventures on the back of