Zamil Industrial Investment Company Announces Annual Consolidated Financial Results for the Year Ended on 31 December 2019
22-March-2020

ELEMENT LIST CURRENT YEAR PREVIOUS YEAR % CHANGE
Sales/Revenue 4,278,226 4,313,649 -0.8%
Gross Profit (Loss) 597,947 715,370 -16.4%
Profit (Loss) Operational (29,325) (13,075) 124.3%
Net Profit (Loss) after Zakat and Tax (138,809) (139,833) -0.7%
Total Comprehensive Income (136,619) (169,006) -19.2%
Total Shareholders' Equity (after deducting minority equity) 1,278,767 1,415,946 -9.7%
Profit (Loss) per Share (2.31) (2.33)

All figures are in thousands of Saudi Riyals


ELEMENT EXPLANATION
Reasons for increase (decrease) in net profit for current year compared to last year Net loss marginally reduced for the year due to:
a) Increase in profit of associated companies;
b) Increase in other income;
c) Lower provision for expected credit loss of financial assets;
d) Reduction in loss from discontinued operations.

However, the impact of the above is offset by the following:
a) Reduction in gross profit margins in the AC and Steel sectors due to increase in input costs, pressure on selling prices and severe competition;
b) Increase in financial charges;
c) Increase in tax.
 
External auditors' opinion The external auditors reviewed the financial statements and issued an unmodified report.
Reclassifications in annual financial results Comparative figures have been reclassified to conform with the presentation in the current year.
Additional information