31 OCT 2024
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 2,240.59 | 2,026.66 | 10.555 | 2,712.25 | -17.389 |
| Gross Profit (Loss) | 597.33 | 360.74 | 65.584 | 869.56 | -31.306 |
| Operational Profit (Loss) | 639.84 | 421.28 | 51.879 | 842.01 | -24.01 |
| Net profit (Loss) | 509.02 | 224.34 | 126.896 | 733.19 | -30.574 |
| Total Comprehensive Income | 487.04 | 225.43 | 116.049 | 745.22 | -34.644 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 7,265.92 | 6,754.07 | 7.578 |
| Gross Profit (Loss) | 2,129.97 | 1,556.69 | 36.826 |
| Operational Profit (Loss) | 2,107.8 | 1,613.22 | 30.657 |
| Net profit (Loss) | 1,695.14 | 1,212.2 | 39.839 |
| Total Comprehensive Income | 1,685.29 | 1,208.01 | 39.509 |
| Total Shareholders Equity (after Deducting Minority Equity) | 13,117.81 | 11,453.07 | 14.535 |
| Profit (Loss) per Share | 2.3 | 1.64 | |
| 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 revenues during the current quarter compared to the same quarter of the previous year is due to:
• The increase in revenue of multiple sectors, especially Chemicals transportation sector whose revenue increased amount of SAR 164 million, Dry Bulk sector by SAR 92 million and Logistics sector by SAR 52 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. In contrast, there was a decrease in the Oil transportation sector revenue by SAR 106 million due to the decrease in 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 the previous year was due to:
• The increase in gross profit by SAR 237 million due to the improvement of operations performance and the improvement of global shipping rates for multiple sectors in the group, where the Oil transportation sector gross profit increased by SAR 80 million, Logistics sector by SAR 76 million and Chemicals transportation sector by SAR 72 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 by SAR 91 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 decrease in revenues during the current quarter compared to the previous quarter is due to:
• The decrease in revenue of multiple sectors, especially Oil transportation sector whose revenue decreased by an amount of SAR 336 million and Chemical transportation sector by an amount of SAR 135 million due to the decline of global shipping rates during the current quarter compared with previous quarter.
• While limiting the decrease in revenue, the increase in Dry Bulk transportation sector revenue by SAR 34 million due to the increase in global shipping rates during the current quarter compared with the 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 decrease in net profit during the current quarter compared to the previous quarter is due to:
• The decrease in gross profit by SAR 272 million due to the decline of global shipping rates in multiple sectors of the Group, where Oil transportation sector gross profit decreased by SAR 170 million and Chemicals transportation sector by SAR 118 million during the current quarter compared with the previous quarter.
While limiting the decrease in net profit: - The increase on the other income by SAR 21 million during the current quarter compared with previous quarter.
- The increase in the Company’s share in results of equity accounted investee by SAR 15 million, in addition to the decrease in general and administrative expenses by SAR 45 million during the current quarter compared with the 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 revenues during the current period compared to the same period of Last year is due to:
• The increase in revenue of multiple sectors, especially the Chemicals transportation sector whose revenue increased by SAR 502 million, Dry Bulk transportation sector by SAR 162 million and Logistics sector by SAR 101 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 of Oil transportation sector whose revenue decreased by SAR 277 million during this period compared with same period of 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 to the same period of the previous year was due to:
• The increase in gross profit by an amount of SAR 573 million due to the improvement of operations performance and global shipping rates in multiple sectors of the Group, where the Chemicals transportation sector increased by SAR 273 million and Oil transportation sector by SAR 245 million during the current period compared with same period of last year.
• The increase in profits from Share of results of Equity Accounted Investees by SAR 48 million during the current period compared to the same period of last year.
While limiting the increase in net profits: - The increase in the general and administrative expenses by SAR 51 million, and the increase in the provision on trade receivable by SR 26 million during the current period compared with same period of 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. |
| Attached Documents |