Emaar The Economic City announces its Interim Financial Results for the Period Ending on 2022-06-30 ( Six Months )

Emaar The Economic City 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||78||88||-11.36||87||-10.34|

|Gross Profit (Loss)||-21||-20||5||-7||200|

|Operational Profit (Loss)||-185||-120||54.17||-113||63.72|

|Net Profit (Loss) after Zakat and Tax||-247||-178||38.76||-160||54.37|

|Total Comprehensive Income||-248||-178||39.33||-160||55|

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

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

|Sales/Revenue||165||172||-4.07|

|Gross Profit (Loss)||-27||-37||-27.03|

|Operational Profit (Loss)||-299||-252||18.65|

|Net Profit (Loss) after Zakat and Tax||-408||-372||9.68|

|Total Comprehensive Income||-408||-359||13.65|

|Total Share Holders Equity (after Deducting Minority Equity)||7,471||5,485||36.21|

|Profit (Loss) per Share||-0.36||-0.44|

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

|Accumulated Losses||Capital||Percentage %|

|3,873||11,333||34.18|

|All figures are in (Millions) 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|| Total comprehensive loss for Q2 2022 is SAR 248M as compared to the total comprehensive loss of SAR 178M in the corresponding quarter. Key factors impacting the net results for the current quarter, are summarized below:

|

1) EEC Group has reported a gross loss of SAR (-21M) during Q2 2022 which represents an increase in loss by SAR 1M (6%) as compared to the gross loss of SAR (-20M) for the corresponding quarter. The variance is mainly due to decrease in order intake.

2) Decrease in other income by SAR 22M mainly due to the following:

a. Reduction in donation income during Q2-2022 from Lockheed Martin (LM)