Saudi Industrial Development Company (SIDC)announces its Interim Consolidated Financial Results for the Period Ending on 31/03/2025(Three Months)
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 24.16 | 43.18 | -44.048 | 38.1 | -36.587 |
| Gross Profit (Loss) | 3.01 | 12.54 | -75.996 | 8.82 | -65.873 |
| Operational Profit (Loss) | -9.2 | -3.4 | 170.588 | -0.88 | 945.454 |
| Net profit (Loss) | -9.44 | -1.21 | 680.165 | 3.16 | - |
| Total Comprehensive Income | -9.38 | -4.3 | 118.139 | 14.73 | - |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 64.38 | 93.77 | -31.342 |
| Profit (Loss) per Share | -0.7 | -0.03 | |
| 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 | - | - | |
| Accumulated Losses | 14.84 | 10.99 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | The reason for the decrease in sales/revenue is due to the decrease in sales of the mattress and foam sector. |
| 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 profit is due to a decrease in operating profit, due to a decrease in gross profit resulting from a decrease in sales. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The reason for the decrease in sales/revenue is due to the decrease in sales of the mattress and foam sector. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The reason for the decrease in net profit is due to a decrease in operating profit, due to a decrease in gross profit resulting from a decrease in sales. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| 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) | - We would like to draw attention to Note No. (12) regarding the accompanying condensed consolidated financial statements, which indicate that the Group's accumulated losses amounted to SAR 267.7 million as of December 31, 2023. The Board of Directors recommended capital reduction and accumulated losses absorption. Accordingly, the Extraordinary General Assembly meeting held on September 19, 2024, approved a reduction in the Company’s capital by SAR 265 million to absorb the accumulated losses. Consequently, 26.5 million shares were cancelled, representing a reduction of 0.6625 share per share as part of the Company’s capital restructuring. Our opinion has not been modified in respect of this matter.
- The Group's condensed consolidated interim financial statements for the three-month period ended March 31, 2024, were reviewed by another auditor who issued an unmodified opinion on these condensed consolidated interim financial statements on Dhu al-Qi'dah 13, 1445 AH (corresponding to May 21, 2024, AD). |
| Reclassification of Comparison Items | Not Applicable |
| Additional Information | - |
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