اعلان شركة التصنيع الوطنية عن النتائج المالية الأولية للفترة المنتهية في 2021-09-30 ( تسعة أشه
October 28, 2021 at 05:53 pm IST
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A2060 TASNEE-0.45 (-1.78 %) 1443/03/22 Thu Oct 28, 2021 08:18:34
National Industrialization Co. announces its Interim Financial Results for the Period Ending on 2021-09-30 ( Nine Months )
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Element List
Current Quarter
Similar quarter for previous year
%Change
Previous Quarter
% Change
Sales/Revenue
1,004.3
573
75.27
780.4
28.69
Gross Profit (Loss)
249.9
71.6
249.022
219.4
13.901
Operational Profit (Loss)
526.2
85.2
517.605
608.7
-13.553
Net Profit (Loss) after Zakat and Tax
333.4
-42.3
-
356.7
-6.532
Total Comprehensive Income
276.2
10.7
2,481.308
441.6
-37.454
All figures are in (Millions) Saudi Arabia, Riyals
Element List
Current Period
Similar period for previous year
%Change
Sales/Revenue
2,510.1
1,664.7
50.783
Gross Profit (Loss)
655.9
242.1
170.921
Operational Profit (Loss)
1,696.8
-1.8
-
Net Profit (Loss) after Zakat and Tax
1,017.7
-274.3
-
Total Comprehensive Income
1,059.7
-433
-
Total Share Holders Equity (after Deducting Minority Equity)
8,329.4
7,393.6
12.656
Profit (Loss) per Share
1.52
-0.41
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
Achieving the net profit is attributable to increase in average selling prices for all products which is also resulting in higher share of profit from investments in associates and joint ventures, despite the increase in average prices of the feedstocks and lower sales volumes of certain products mainly due to plant turnaround maintenance as indicated in additional information. Additionally, there is decrease in general and administrative expenses and financial charges and increase in other income.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is
Decrease in net profit is due to declining average selling prices of certain petrochemical products and increase in average feedstock prices resulting in lower share of profit from investments in associates and joint ventures despite increase in average selling price for certain Acrylics and Titanium Dioxide products. Additionally, there is decrease in general and administrative expenses and increase in other income
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is
Achieving the net profit is attributable to increase in average selling prices for all products which is also resulting in higher share of profit from investments in associates and joint ventures, despite the increase in average prices of the feedstocks, lower sales volumes of certain products mainly due to plant turnaround maintenance as indicated in additional information and increase in zakat and tax provisions. Additionally, there is decrease in general and administrative expenses and financial charges and increase in other income. Noting that an impairment of SR 222 million was recorded in 2020, mainly for non-current assets of a subsidiary "Advanced Metal Industries Cluster Company".
Statement of the type of external auditor's report
Unmodified conclusion
Reclassification of Comparison Items
Certain corresponding figures for the comparative periods have been restated in compliance with the applicable accounting standards.
Additional Information
One of the Group's joint ventures, Saudi Ethylene and Polyethylene Company "SEPC" had temporarily shutdown the plants for the scheduled periodic maintenance during Q2 2021. As published in Tadawul on April 14, 2021, the financial impact of shutdown based on the average prices will affect the interim consolidated financial statements for second and third quarter of 2021.
The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Disclaimer
National Industrialization Co. JSC published this content on 28 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 October 2021 12:22:18 UTC.
National Industrialization Company SJSC is engaged in the establishment of industrial, chemical and petrochemical projects. It operates three segments: Chemicals, Petrochemicals, and Downstream and Others. The Chemicals segment Includes investment in TiO2 business, production of Titanium sponge and it's by-products, project under progress for production of Titanium metals of various types and related substances including Titanium and Iron ore. The Petrochemicals segment Includes basic chemicals and polymers. The Downstream and Others segment Includes the production of liquid batteries for cars, production of lead and sodium sulfate, all kinds of plastic productions and the production of acrylic panels. Also, includes the operations of the head office, and technical centers, innovations and investment activities. The companyâs subsidiaries include Rowad National Plastic Co, Taldeen Plastic Solutions, TUV Middle East WLL, and National Lead Smelting Company Ltd, among others.