Saudi Industrial Investment Group announces its interim Financial results for the period ending on 30-06-2019 ( Six Months )

ELEMENT LISTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR%CHANGEPREVIOUS QUARTER% CHANGE
Sales/Revenue1,6512,239-26.2612,020-18.267
Total Profit (Loss)460722-36.288517-11.025
Profit (Loss) Operational435737-40.976454-4.185
Net Profit (Loss) after Zakat and Tax205321-36.13717815.168
Total Comprehensive Income205321-36.13717815.168
All figures are in (Millions) Saudi Arabia, Riyals

ELEMENT LISTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR%CHANGE
Sales/Revenue3,6714,450-17.505
Total Profit (Loss)9771,485-34.208
Profit (Loss) Operational8891,374-35.298
Net Profit (Loss) after Zakat and Tax383520-26.346
Total Comprehensive Income383520-26.346
Total Share Holders Equity (after deducting minority equity)6,9446,8591.239
Profit (Loss) per Share0.851.16
All figures are in (Millions) Saudi Arabia, Riyals

ELEMENT LISTEXPLANATION
Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year-The reasons for the decrease in the net income during the current quarter compared to the same quarter of the previous year are:1. SIIGs share of profit of the projects managed jointly (SCP, JCP) has decreased in the current quarter to be SR 112 Million, compared to SR 187 Million for the same quarter of the previous year, as a result of a decreased in the prices of the products.2. SIIGs share of profit of the National Petrochemical Company (Petrochem) has decreased in the current quarter to be SR 96 Million in the current quarter compared to SR 136 Million for the same quarter of the previous year.
Reason for increase (decrease) in net profit for current quarter compared to the previous quarter-The reasons for the increase in the net income during the current quarter compared to the previous quarter are:1. SIIGs share of profit of the projects managed jointly (SCP, JCP) has increased in the current quarter to be SR 112 Million, compared to SR 91 Million for the previous quarter, as a result of an increase in the prices and the quantities of the sold products.2. SIIGs share of profit of the National Petrochemical Company (Petrochem) has increased in the current quarter to be SR 96 Million, compared to SR 89 Million in the previous quarter.
Reason for increase (decrease) in net profit for current period compared to the similar period of the previous year-The reasons for the decrease in the net income during the current period compared with the same period in the previous year are:1. SIIGs share of profit of the projects managed jointly (SCP, JCP) has decreased in the current period to be SR 203 Million, compared to SR 222 Million for the same period of the previous year, as a result of a decreased in the prices of the products.2. SIIGs share of profit of the National Petrochemical Company (Petrochem) has decreased in the current period to be SR 185 Million in the current period compared to SR 303 Million for the same period of the previous year.
Type of the external auditor’s opinionUnmodified opinion
Reclassifications in quarter financial resultCertain prior period figures have been reclassified to conform with the presentation in the current period.
Additional InformationFrom 01 January 2019, the Company has adopted IFRS 16 with no material impact on its interim financial statements.