| ELEMENT LIST | CURRENT QUARTER | SIMILAR QUARTER FOR PREVIOUS YEAR | %CHANGE | PREVIOUS QUARTER | % CHANGE |
|---|---|---|---|---|---|
| Sales/Revenue | – | – | – | – | – |
| Gross Profit (Loss) | – | – | – | – | – |
| Operational Profit (Loss) | 272 | 314 | -13.375 | 339 | -19.764 |
| Net Profit (Loss) after Zakat and Tax | 122 | 235 | -48.085 | 204 | -40.196 |
| Total Comprehensive Income | 127 | 211 | -39.81 | 204 | -37.745 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| ELEMENT LIST | CURRENT PERIOD | SIMILAR PERIOD FOR PREVIOUS YEAR | %CHANGE |
|---|---|---|---|
| Sales/Revenue | – | – | – |
| Gross Profit (Loss) | – | – | – |
| Operational Profit (Loss) | 1,873 | 201 | 831.84 |
| Net Profit (Loss) after Zakat and Tax | 1,136 | 92 | 1,134.782 |
| Total Comprehensive Income | 1,142 | 68 | 1,579.411 |
| Total Share Holders Equity (after Deducting Minority Equity) | 7,328 | 6,412 | 14.285 |
| Profit (Loss) per Share | 2.53 | 0.2 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| ELEMENT LIST | EXPLANATION |
|---|---|
| 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 reason for the decrease in net income during the current quarter compared to the same quarter of the previous year
1. SIIG’s share of profit of the jointly managed projects has decreased in the current quarter, due to an increase in the feedstock costs, in addition to the scheduled turnaround maintenance and catalyst replacement for its project “SCP” during the current quarter. 2. An increase in the zakat expenses in the current quarter. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is | The reasons for the decrease in the net income during the current quarter compared with the previous quarter are:
1. SIIG’s share of profit of the jointly managed projects has decreased in the current quarter, due to an increase in the feedstock costs, in addition to the scheduled turnaround maintenance and catalyst replacement for its project “SCP” during the current quarter. 2. An increase in the Zakat expenses in the current quarter. 3. An increase in the general and administrative expenses. |
| 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 reasons for the increase in the net income during the current period compared with the same period in the previous year are:
1. SIIG’s share of profit of the jointly managed projects has increased in the current period, due to an increase in the sales prices of the project’s products. |
| Statement of the type of external auditor’s report | Emphasis of Matter |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | We draw attention to Note 14 to the accompanying condensed consolidated interim financial statements, which sets out the impact of the restatement on investments in Saudi Polymers Company (“SPCO”) and Gulf Polymers Distribution Company (“GPDC”) that were previously consolidated by the Company’s subsidiary, National Petrochemical Company (“Petrochem”). Based on Petrochem’s reassessment of its contractual arrangements with the respective shareholders of SPCO and GPDC, these investments should have been accounted for as investments in joint ventures using the equity method as Petrochem exercised joint control over these investments.
Note 14 to the accompanying condensed consolidated interim financial statements sets out: – the impact of this restatement to the respective 2020 comparative periods of these condensed consolidated interim financial statements; and – that the restatement had no impact on the total equity attributable to the shareholders of the The company, net income, and earnings per share (basic and diluted). |
| Reclassification of Comparison Items | Certain prior period figures have been re-classified to confirm with the presentation in the current period. |