Saudi Industrial Investment Group announces its Annual Financial Results for the Period Ending on 31-12-2021

Element List Current Year Previous Year %Change
Gross Profit (Loss)
Operational Profit (Loss) 1,837 201 813.93
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 1.35
All figures are in (Millions) Saudi Arabia, Riyals


Element List Explanation
The reason of the increase (decrease) in the net profit during the current year compared to the last year is The reason for the increase in the net income during the current year compared to the previous year is:

– SIIG’s share of profit of the jointly managed projects has increased in the current year, due to an increase in the average selling prices of the project’s products.

Statement of the type of external auditor’s report Unmodified opinion
Reclassification of Comparison Items Certain previous year figures have been re-classified to confirm with the presentation in the current year.
Additional Information In reference to change that National Petrochemical Company “Petrochem” did to the presentation of its financial statements during the year 2021, as it stopped consolidating its financial statements with the Saudi Polymers Company and the Gulf Polymers Distribution Company, and present its investments in the mentioned companies by the equity method.

and because of the above, SIIG has changed the way it presents its financial statements as well, Therefore, revenue from contracts with customers and gross profit, will not appear in the statement of profit, (loss) income. and this change will not affect by any way the equity of SIIG’s shareholders or the net profits and earnings per share.