According to a bourse filing on The Saudi Stock Exchange Tadawul on February 28, 2023, decrease in net profit is primarily attributable to decrease in share of profit from investments in joint ventures and associates mainly due to lower average selling prices and sales volumes for petrochemical products, higher feedstock costs, logistics expenses, financial charges and impairment provision of non-financial assets related to one of the Group's subsidiaries (Advanced Metal Industries Cluster Co.), despite higher revenue driven by improved average selling prices and sales volumes for certain products, partial reversal of impairment provisions for financial assets, increase in finance and other income and decrease in general and administrative expenses and zakat provisions.
Statement of the type of external auditor's report Unmodified opinion
Reclassification of Comparison Items Certain corresponding figures for the comparative year have been re-classified for the purpose of better presentation in conformity with the current year.
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