Alandalus Property Co. announces its Interim Financial Results for the Period Ending on 2022-09-30 ( Nine Months )

ELEMENT LIST	CURRENT QUARTER	SIMILAR QUARTER FOR PREVIOUS YEAR	%CHANGE	PREVIOUS QUARTER	% CHANGE
Sales/Revenue	53.26	55.44	-3.93	54.1	-1.55
Gross Profit (Loss)	35.39	37.43	-5.45	37.5	-5.63
Operational Profit (Loss)	32.57	33.32	-2.25	29.36	10.93
Net Profit (Loss) after Zakat and Tax	18.04	19.37	-6.87	15.46	16.69
Total Comprehensive Income	18.04	19.37	-6.87	15.46	16.69
All figures are in (Millions) Saudi Arabia, Riyals

ELEMENT LIST	CURRENT PERIOD	SIMILAR PERIOD FOR PREVIOUS YEAR	%CHANGE
Sales/Revenue	160.66	158.34	1.47
Gross Profit (Loss)	109.58	106.56	2.83
Operational Profit (Loss)	96.48	98.03	-1.58
Net Profit (Loss) after Zakat and Tax	53.29	57.55	-7.4
Total Comprehensive Income	53.29	57.55	-7.4
Total Share Holders Equity (after Deducting Minority Equity)	1,069.68	1,075.73	-0.56
Profit (Loss) per Share	0.57	0.62
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 decrease in net profit attributable to the shareholders of the company for the current quarter compared to the same quarter is mainly due to: • Decreased gross profit due to a slight decrease in revenues, mainly the revenues of the retail and operating sector. • The increase in general and administrative expenses is because of the increase in the provision for expected credit losses during the current quarter. • Higher financing costs during the current quarter. All the above led to a decrease in this net profit despite the increase in the company's share in the income from associates and the increase in other revenues during the current quarter compared to the same quarter.
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 increase in net profit attributable to the shareholders of the company for the current quarter compared to the previous quarter is mainly due to: • The company's share in the income from associates increased, as well as the increase in other revenues during the current quarter. • Decrease in general and administrative expenses and marketing expenses during the current quarter • Decreased provision for zakat during the current quarter. All the above led to an increase in this net profit despite the increase in the financing cost 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 decrease in net profit for the current period compared to the same period of the previous year is mainly due to: • High administrative and general expenses and marketing expenses. • High financing costs during the current period • Increase in Zakat provision. All the above led to a decrease in net profit during the current period compared to the same period of the previous year, despite the increase in revenues during the current period compared to the same period of the previous year.
Statement of the type of external auditor's report	Unmodified conclusion
Reclassification of Comparison Items	Certain prior period figures have been reclassified to conform with the presentation in the current period
Additional Information	The company's revenues increased during the current period of 2022 by 1.47% to reach 160.7 million Saudi riyals, compared to 158.3 million Saudi riyals for the same period of the previous year. This increase came mainly because of an increase in the hospitality sector's revenues by 43% because of improved occupancy rates during the current period. As a result, the gross profit increased by approximately 2.83% to reach 109.58 million Saudi riyals during the current period, compared to 106.56 million Saudi riyals during the same period of the previous year. On 25 August 2021, the extraordinary general meeting approved to increase the share capital from SR 700 million to 933.3 million through the issuance of bonus shares at the rate of one share for every three shares, using retained earnings and statutory reserves. Basic and diluted earnings per share is calculated by dividing the profit for the period attributable to the shareholders of the company by the weighted average number of ordinary shares outstanding during the period, Accordingly, the earnings per share for the comparative period were adjusted by adjusting the weighted average number of ordinary shares. For more information, please refer to Note No. 1 and 12 in the interim financial statements for the third quarter of 2022. The Condensed consolidated financial statements for the period ended 30th September 2022 will be available on Al-Andalus Property Website. As well as the Investor Presentation for the same period will be available on Al-Andalus Property website and application within the Investors relations section under investors presentations. http://www.alandalus.com.sa
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