اعلان الشركة الوطنية السعودية للنقل البحري عن النتائج المالية الأولية للفترة المنت

A4030 BAHRI0.2 (0.55 %)
1443/03/25 Sun Oct 31, 2021 15:53:16

National Shipping Company of Saudi Arabia announces its Interim Financial Results for the Period Ending on 2021-09-30 ( Nine Months )

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Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	1,320.58	1,510.3	-12.561	1,294.76	1.994
Gross Profit (Loss)	133.1	379.95	-64.969	127.27	4.58
Operational Profit (Loss)	90.57	303.31	-70.139	99.58	-9.048
Net Profit (Loss) after Zakat and Tax	17.99	313.74	-94.265	38.91	-53.765
Total Comprehensive Income	12.73	315.49	-95.965	42.82	-70.27
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	3,804.54	7,124.91	-46.602
Gross Profit (Loss)	344.57	1,903.91	-81.901
Operational Profit (Loss)	251.52	1,724.46	-85.414
Net Profit (Loss) after Zakat and Tax	100.46	1,493.57	-93.273
Total Comprehensive Income	105.97	1,493.04	-92.902
Total Share Holders Equity (after Deducting Minority Equity)	9,308.15	9,917.7	-6.146
Profit (Loss) per Share	0.26	3.79
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 decrease in net profit during the current quarter compared to the same quarter of last year is: - The decrease in revenues from multiple sectors especially the oil sector by (18%), due to the significant decline in global shipping rates in addition to the decline in shipping operations. - Also the operating costs have increased during the current quarter compared to the same quarter of last year mainly due to the increase in fuel prices. - The decrease in the Company's share in results of equity accounted investees during this quarter, in addition to the increase in Zakat and Tax expense compared to the same quarter of last year. - The decrease in provision on trade receivables and contract assets contributed to reduce the impact of the decline in net profit during 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 period of the current year is	The main reason for the decrease in net profit in the current quarter compared to the previous quarter is mainly due decrease in other income amounting to SR 20 million in addition to the reduction in the Company's share in results of equity accounted investees during the current quarter. This drop was limited by the improved performance of logistics sector and dry bulk shipping sector as well as the decrease in general and administrative expenses during the current quarter compared to 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 decrease in net profit in the current period compared to the same period of last year due to reduction in revenues from multiple sectors especially the oil sector by (59%) compared to the same period of last year, due to the significant decline in global shipping rates in addition to the decline in shipping operations. Nevertheless, the increase of other income and the decrease in provision on trade receivables and contract assets, Zakat and Tax expense and financial charges, have contributed to reduce the impact of the decline in net profit during the current period compared to the 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

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