Astra Industrial Group announces its Interim Financial results for the Period Ending on 2024-06-30 ( Six Months )

Sales/Revenue

819,094,894

659,588,069

24.182

833,038,252

-1.673

Gross Profit (Loss)

338,828,302

277,695,292

22.014

349,096,559

-2.941

Operational Profit (Loss)

163,267,094

125,254,718

30.348

169,005,705

-3.395

Net profit (Loss)

168,747,319

114,744,049

47.064

149,741,384

12.692

Total Comprehensive Income

163,358,176

103,628,214

57.638

154,238,486

5.912

Sales/Revenue

1,652,133,146

1,399,665,411

18.037

Gross Profit (Loss)

687,924,861

589,405,562

16.715

Operational Profit (Loss)

332,272,799

265,807,504

25.005

Net profit (Loss)

318,488,703

237,628,616

34.027

Total Comprehensive Income

317,596,662

233,964,004

35.745

Total Shareholders Equity (after Deducting Minority Equity)

2,245,499,274

1,883,350,592

19.228

Profit (Loss) per Share

3.98

2.97

Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value

–

–

The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is

Sales increases in general due to:
Increase in Sales in the following sectors:
a) Steel industries.
b) Pharmaceuticals.
c) Specialty chemical.

The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is

Net profit Increases in general due to:
1. Gain from discontinued operation.
2. Increase in Sales and Gross Profit in the following sectors:
a) Steel Industries.
b) Pharmaceuticals.
While noting that there is an increase in zakat and income tax expenses in all sectors.

The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is

Sales decreases in general due to:
Decrease in Sales in the following sectors:
a) Pharmaceuticals.
b) Specialty chemical.

The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is

Net profit Increases in general due to:
Gain from discontinued operation.
While noting that there is an increase in zakat and income tax expenses in all sectors.

The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is

Sales increases in general due to:
Increase in Sales in the following sectors:
a) Steel industries.
b) Pharmaceuticals.

The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is

Net profit Increases in general due to:
1. Increase in Gross Profit in the following sectors:
a) Steel Industries.
b) Pharmaceuticals.
2. Gain from discontinued operation.

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)

N\A

Reclassification of Comparison Items

Certain comparative figures for the previous period have been reclassified to be consistent with the presentation of the current period.

Additional Information

1. Net Shareholders’ Equity at the end of the period was SR 2,252,334,319/- compared to SR 1,945,839,399/- at the end of the similar period last year with an increase of 16%.
2. On 21 February 2024, Astra Industrial Group and Tharwat Mining Company signed an agreement with Saudi Lime Industries Company (the “purchaser”) for exiting its entire investment in Astra Mining for a transaction price of SR 35 million for 100% equity stake and also the purchaser will settle the amounts due to the Company by Astra Mining of SR 129.6 million. The deal was subject to completion of certain conditions by the buyer. These conditions were fulfilled on 19 May 2024. Accordingly, the control was transferred to the buyer on that date and the Company has recognized its share of gain amounting to SAR 37.8M (representing 77.3% of consolidated gain on disposal amounting to SAR 48.9M). (For details, please refer to Consolidated Interim Financial Statements)