Saudi Industrial Investment Group announces its Annual financial results for the period ending on 31-12-2018

Sales/Revenue 8,930 7,364 21.265
Total Profit (Loss) 2,683 2,264 18.507
Profit (Loss) Operational 2,310 2,170 6.451
Net Profit (Loss) after Zakat and Tax 865 1,004 -13.844
Total Comprehensive Income 897 997 -10.03
Total Share Holders Equity (after deducting minority equity) 6,898 6,564 5.088
Profit (Loss) per Share 1.92 2.23
All figures are in (Millions) Saudi Arabia, Riyals
Reason for increase (decrease) in net profit for current year compared to last year -The reasons for the decrease in the net profit for the current year 2018 compared with the previous year 2017 are:1- A decrease in SIIGs share of profit of the projects managed jointly (SCP, JCP), in the current year compared to the previous year, due to scheduled maintenance works that occurred during the current year, in addition to the prices decrease of the projects’ products during the 4th quarter in 2018.2- SIIG sold their project Petrochemical Conversion Company (PCC) for SR 31 million, during the previous year.Noted that, SIIGs share of profit in the National Petrochemical Company (Petrochem) has increased in the current year to be SR 582 Million, compared to SR 444 Million for the previous year.
Type of the external auditor’s opinion Unmodified opinion
Reclassifications in annual financial results Certain previous year figures have been re-classified to confirm with the presentation in the current year.