National Shipping of Saudi Arabia : announces its Interim Financial Results...

30 JUL 2023

Element List	Current Quarter	Similar Quarter For Previous Year	%Change	Previous Quarter	% Change
Sales/Revenue	2,352.18	1,993.28	18	2,375.22	-0.97
Gross Profit (Loss)	580.72	246.96	135.15	615.24	-5.61
Operational Profit (Loss)	611.33	201.82	202.91	609.24	0.34
Net Profit (Loss) after Zakat and Tax	495.38	128.02	286.95	492.49	0.59
Total Comprehensive Income	489.96	156.37	213.33	492.62	-0.54
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar Period For Previous Year	%Change
Sales/Revenue	4,727.4	3,572.35	32.33
Gross Profit (Loss)	1,195.96	403.14	196.66
Operational Profit (Loss)	1,220.56	320.88	280.38
Net Profit (Loss) after Zakat and Tax	987.87	192.92	412.06
Total Comprehensive Income	982.58	233.27	321.22
Total Share Holders Equity (after Deducting Minority Equity)	11,227.64	9,646.37	16.39
Profit (Loss) per Share	1.34	0.26
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
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 main reason for the increase in net profit during the current quarter compared to the same quarter of last year is: - The increase in revenues due to the improvement of performance in multiple sectors especially the oil sector where its revenues have increased by the amount of SR 255 million, as well as the increase in the chemicals transportation sector revenues by the amount of SR 209 million, due to the improvement in shipping rates prices during the current quarter compared to the same quarter last year. - The increase in other income by amount of SR 88 million during the current quarter compared to the same quarter last year supported by the realized capital gain by amount of SR 73 million from disposal of vessels within the fleet modernization plan. - The increase in the group's share in results of equity accounted investee companies by the amount of SR 68 million during the current quarter compared to the same quarter last year. While the increase in finance cost by the amount of SR 100 million, have limited the increase in net profits during the current quarter compared to the same quarter last year.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is	The main reason for the increase in net profit in the current quarter compared to the previous quarter is: - The increase in other income by the amount of SR 60 million during the current quarter compared with the previous quarter supported by the realized capital gain by amount of SR 73 million from disposal of vessels within the fleet modernization plan. While limiting the increase in net profits: - The decrease in revenues from some sectors especially the chemicals transportation sector by the amount of SR 55 million, due to the decline in shipping rates prices during the current quarter compared with the previous quarter. - in addition to the increase in provision of trade receivable by the amount of SR 15 million during the current quarter compared with the previous quarter.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	The main reason for the increase in net profit during the current period compared to the same period of last year is: - The increase in revenues which is due to the improvement in multiple sectors performance especially in the oil transportation sector where its revenues have increased by the amount of SR 703 million as well as the increase in the chemicals transportation sector revenues by the amount of SR 586 million, due to the improvement in shipping rates during the current period compared with same period of last year. - The increase in the group's share in results of equity accounted investee companies by the amount of SR 164 million profits during the current period compared with same period of last year. - The increase in other income by the amount of SR 115 million during the current period compared with same period of last year which is supported by the realized capital gain by the amount of SR 89 million from disposal of vessels within the fleet modernization plan. While the increase in the finance cost by the amount of SR 217 million has limited the increase in net profits during the current period compared with same period of last year.
Statement of the type of external auditor's report	Unmodified conclusion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion	None
Reclassification of Comparison Items	Certain comparative figures of the prior period have been reclassified to match with the presentation of the current period.
Additional Information	None