Zamil Industrial Investment Co. Announces Consolidated Interim Financial Results for the Three-Month Period Ending 31 March 2019
25-April-2019

ELEMENT LIST CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR % CHANGE PREVIOUS QUARTER % CHANGE
Sales/Revenue 1,020,977 969,996 5.3% 1,208,582 -15.5%
Gross Profit (Loss) 124,088
177,031
-29.9% 209,795 -40.9%
Profit (Loss) Operational (8,759) 43,315 (61,945) -85.86%
Net Profit (Loss) after Zakat and Tax (47,152) 15,568 (93,058) -49.3%
Total Comprehensive Income (47,015) 12,523 (113,749) -58.7%
Total Shareholders' Equity (after deducting minority equity) 1,368,931 1,668,824 -18.0%
Profit (Loss) per Share (0.79) 0.26 (1.55)

All figures are in thousands of Saudi Riyals


ELEMENT EXPLANATION
Reasons for increase (decrease) in net profit during current quarter compared with same quarter last year The net loss for the quarter was due to the decrease in gross profit margins across all sectors because of the increase in input costs, pressure on selling prices, and severe competition. The net loss is also attributed to higher financial charges, zakat, and income tax.
Reasons for increase (decrease) in net profit during current quarter compared with previous quarter The net loss is lower because higher provisions were made in Q4 2018 for expected credit loss and loss from discontinued operations. Gross profit margins decreased due to lower sales in the AC and Steel sectors.
Type of the external auditors' opinion The external auditors reviewed the financial statements and issued an unmodified report.
Reclassifications in quarterly financial results Comparative figures have been reclassified to conform with the presentation in the current period.
Additional information As of 1 January 2019, the company has adopted “IFRS 16 – Leases” with no material impact on the company’s results.