Saudi Industrial Investment Group announces its Interim Financial Results for the Period Ending on 30-09-2019 ( Nine Months )

ELEMENT LISTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR%CHANGEPREVIOUS QUARTER% CHANGE
Sales/Revenue1,9582,297-14.7581,65118.594
Gross Profit (Loss)491742-33.8274606.739
Operational Profit (Loss)410749-45.26435-5.747
Net Profit (Loss) after Zakat and Tax160319-49.843205-21.951
Total Comprehensive Income160319-49.843205-21.951
All figures are in (Millions) Saudi Arabia, Riyals

ELEMENT LISTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR%CHANGE
Sales/Revenue5,6296,747-16.57
Gross Profit (Loss)1,4682,228-34.111
Operational Profit (Loss)1,2992,123-38.813
Net Profit (Loss) after Zakat and Tax544839-35.16
Total Comprehensive Income544839-35.16
Total Share Holders Equity (after Deducting Minority Equity)7,1047,178-1.03
Profit (Loss) per Share1.211.86
All figures are in (Millions) Saudi Arabia, Riyals

ELEMENT LISTEXPLANATION
Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to-The reasons for the decrease in the net income during the current quarter compared with 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 83 Million, compared to SR 177 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 83 Million in the current quarter compared to SR 157 Million for the same quarter of the previous year.
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to-The reasons for the decrease in the net income during the current quarter compared with the previous quarter are:1. SIIGs share of profit of the projects managed jointly (SCP, JCP) has decreased in the current quarter to be SR 83 Million, compared to SR 112 Million for the previous quarter, as a result of a decrease 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 83 Million, compared to SR 96 Million in the previous quarter.3. A decrease in the other income.
Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to– 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 285 Million, compared to SR 399 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 268 Million in the current period compared to SR 460 Million for the same period of the previous year.
Basis of the External Auditor’s OpinionUnmodified opinion
Reclassification of Comparison ItemsCertain prior period figures have been re-classified to confirm with the presentation in the current period.
Additional InformationFrom January 1, 2019, the Company has adopted IFRS 16 with no material impact on its interim financial statements.