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Molan Steel Co. announces its Annual Financial results for the period ending on 2023-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 89,696,660 | 84,620,334 | 6 | ||
| Gross Profit (Loss) | 4,140,116 | 5,318,763 | -22.16 | ||
| Operational Profit (Loss) | -3,390,809 | -406,213 | 734.74 | ||
| Net profit (Loss) | -4,786,703 | -761,287 | 528.76 | ||
| Total Comprehensive Income | -4,755,521 | -771,132 | 516.69 | ||
| Total Share Holders Equity (After Deducting the Minority Equity) | 30,081,468 | 34,836,989 | -13.65 | ||
| Profit (Loss) per Share | -0.18 | -0.03 | |||
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | -1,787,529 | 6.72 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | The increase in revenue % compared to the last year is because of: - Open a new branch in Dammam- - Increase the quantity of the sales (ton) in Riyadh and Jeddah branches. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | - Selling prices decreased by 25% compared to the previous year. - The cost of financing increased by 90.56% compared to the previous year. |
| Statement of the type of external auditor's report | Unmodified opinion |
| 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) | NA |
| Reclassification of Comparison Items | NA |
| Additional Information | Although the company's sales of tons (tons) increased by 40% and 6% in value (SAR) compared to the previous year, the company had losses due to a decrease in selling prices by 25% because of the Steel is a commodity that has an international price, in addition to an increase in the cost of financing by 90.56% resulting from an increase Interest rate. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Last Price 2.82
Net Change 0.0 (0.0%)
Value Traded (Sar) 2.89
Volume Traded 1
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