Saudi Advanced Industries Co. announces its Annual Financial results for the period ending on 2024-12-31
- Date : 2025-03-26
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 342.44 | 180.15 | 90.09 | ||
| Gross Profit (Loss) | 342.44 | 180.15 | 90.09 | ||
| Operational Profit (Loss) | 315.56 | 162.23 | 94.51 | ||
| Net profit (Loss) | 295.06 | 148.8 | 98.29 | ||
| Total Comprehensive Income | 294.3 | 154.89 | 90 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 1,230.71 | 995.41 | 23.64 | ||
| Profit (Loss) per Share | 5 | 2.52 | |||
| 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 year compared to the last year | The reason of the increase in revenues during the current year compared to the last year is due to:
• Increase in profits from selling shares in associated companies. • Increase in profit from selling financial assets at fair value through profit or loss. • Increase in unrealized gains from financial assets at fair value through profit or loss. in spite of: • Decrease in the company share of associate companies’ profits by 69% • Decrease in dividends earned. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The reason of the increase in net profit during the current year compared to the last year is due to increase in revenues in spite of:
• Increase in financing costs. • Increase in general and administrative expenses • Increase in the zakat expenses. |
| Statement of the type of external auditor’s report | Unmodified opinion |
| 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 | Some comparative figures have been reclassified to be consistent with the classification used for the current financial statements. |
| Additional Information | Earnings per share were adjusted due to a company starting to purchase treasury shares based on the approval of the extraordinary general assembly on January 25, 2023, as the company purchased 1 million shares and allocate them as treasury shares |