|Element List||Current Year||Previous Year||%Change|
|Gross Profit (Loss)||–||–||–|
|Operational Profit (Loss)||1,337||244||447.95|
|Net Profit (Loss) after Zakat and Tax||1,367||230||494.347|
|Total Comprehensive Income||1,374||208||560.576|
|Total Share Holders Equity (after Deducting Minority Equity)||9,130||8,116||12.493|
|Profit (Loss) per Share||2.85||0.48|
|All figures are in (Millions) Saudi Arabia, Riyals|
|The reason of the increase (decrease) in the net profit during the current year compared to the last year is||The main reasons for the increase in net profit during this year compared with last year is due the following:
1- Increase in Petrochem jointly managed projects shared profit due to an increase in products’ prices.
2- Decrease in Zakat expenses.
|Statement of the type of external auditor’s report||Unmodified opinion|
|Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion||NA|
|Reclassification of Comparison Items||Certain figures of the prior year have been re-classified to conform to the current period presentation.|
|Additional Information||For further clarification, we would like to note, however, that the accounting treatment of invested projects has been changed,
as Petrochem started from the third quarter of 2021, (referred to earlier in the third quarter 2021 results announcement), by deconsolidate of the financial statements of the two ventures as (“joint arrangements”) and processed according to the equity method, so financial items do not appear (Sales and gross profit) for the joint projects in Petrochem’s profit, loss, and other comprehensive income.
There is no financial impact on the equity attributable to Petrochem shareholders, nor the net income attributable to Petrochem shareholders, and the earning per share.