28 JUL 2024
| Element List | Current Quarter | Similar Quarter For Previous Year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 2,712.26 | 2,352.18 | 15.308 | 2,313.08 | 17.257 |
| Gross Profit (Loss) | 869.56 | 580.72 | 49.738 | 663.09 | 31.137 |
| Operational Profit (Loss) | 842.01 | 594.51 | 41.63 | 625.96 | 34.514 |
| Net profit (Loss) | 733.19 | 495.38 | 48.005 | 452.93 | 61.877 |
| Total Comprehensive Income | 745.22 | 489.96 | 52.098 | 453.03 | 64.496 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar Period For Previous Year | %Change |
|---|---|---|---|
| Sales/Revenue | 5,025.33 | 4,727.4 | 6.302 |
| Gross Profit (Loss) | 1,532.64 | 1,195.96 | 28.151 |
| Operational Profit (Loss) | 1,467.96 | 1,191.94 | 23.157 |
| Net profit (Loss) | 1,186.12 | 987.87 | 20.068 |
| Total Comprehensive Income | 1,198.25 | 982.58 | 21.949 |
| Total Shareholders Equity (after Deducting Minority Equity) | 12,630.77 | 11,227.64 | 12.497 |
| Profit (Loss) per Share | 1.61 | 1.34 | |
| 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 quarter compared to the same quarter of the last year is | The main reason for the increase in revenue during the current quarter compared with same quarter of last year is:
-The increase in revenue of multiple sectors, especially chemicals transportation whose revenue increased by an amount of SAR 256 million, Logistics sector by SAR 81 million, and Dry Bulk sector by an amount of SAR 58 million due to the increase in operations activities and the improvement of global shipping rates during the current quarter compared with same quarter last year. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The main reason for the increase in net profit during the current quarter compared to the same quarter of last year is:
-The increase in gross profit by an amount of SAR 289 million due to the improvement of operations performance and the improvement of global shipping rates for multiple sectors in the group, where the Chemicals transportation sector gross profit increased by an amount of SAR 167 million, and Oil transportation sector by an amount of SAR 86 million during the current quarter compared with same quarter of the last year.
-The increase in the Company’s share in results of equity accounted investee companies by an amount of SAR 24 million during the current quarter compared with same quarter of the last year.
While limiting the increase in net profits, the increase in the general administration expense by an amount of SAR 43 million during the current quarter compared with same quarter of the last year. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The main reason for the increase in revenue in the current quarter compared with previous quarter is:
-The increase in revenue of all sectors, especially chemicals transportation sector whose revenue increased by an amount of SAR 119 million, Logistics sector by SAR 114 million, and Oil transportation sector by an amount of SAR 106 million due to the increase in operations activities and the improvement of global shipping rates during the current quarter compared with previous quarter. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The main reason for the increase in net profit in the current quarter compared with previous quarter is:
-The increase in gross profit by an amount of SAR 206 million due to the improvement of operations performance and the improvement of global shipping rates in multiple sectors of the Group, where Logistics sector gross profit increased by an amount of SAR 74 million, Oil transportation sector by SAR 70 million and Chemicals transportation sector by SAR 65 million during the current quarter compared with previous quarter.
-The increase in the Company’s share in results of equity accounted investee companies by an amount of SAR 79 million during the current quarter compared with the previous quarter.
-The increase in other income by an amount of SAR 55 million during the current quarter compared with the previous quarter, which is mainly due to the realized capital gain by an amount of SAR 76 million (Comparing with SAR 22 million in previous quarter) from sale of vessels within the fleet modernization plan.
-The decrease in the finance costs by an amount of SAR 19 million was due to repayment of some loans during the current quarter compared with the previous quarter.
While limiting the increase in net profits, the increase in general and administrative expenses by an amount of SAR 41 million during the current quarter compared with previous quarter. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | The main reason for the increase in revenue during the current period compared with same period of last year is:
-Improvement of operations performance in multiple sectors of the Group, especially the Chemicals transportation sector whose revenue increased by an amount of SAR 338 million, Dry Bulk transportation sector by an amount of SAR 70 million, and Logistics sector by an amount of SAR 49 million due to the increase in operation activities as well as the increase in global shipping rates during the current period compared with same period last year, offset by the decrease in revenue Oil transportation sector whose revenue decreased by an amount of SAR 170 million during this period compared with same period of the last year. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The main reason for the increase in net profit during the current period compared with same period of last year is:
-The increase in gross profit by an amount of SAR 337 million due to the improvement of operations performance and the improvement of global shipping rates in multiple sectors of the Group, where the Chemicals transportation sector gross profit increased by an amount of SAR 201 million, and Oil transportation sector by SAR 166 million during the current period compared with same period of the last year.
-The increase in Finance income by an amount of SAR 22 million during the current period compared with same period of the last year
While limiting the increase in net profits, the increase in the general and administrative expenses by an amount of SAR 54 million, and the decrease in the Company’s share in results of equity accounted investee companies by an amount of SR 44 million during the current period compared with same period of the last year. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | None. |
| Reclassification of Comparison Items | Certain comparative figures of the prior period have been reclassified to match with the presentation of the current period. |
| Additional Information |
For more information, please refer to the Earnings Release attached to the announcement. |