| Introduction |
Further to the company’s announcement published on the Tadawul website on 21/06/1445 AH corresponding to January 3, 2024 regarding the company’s receipt of a notification from Saudi Aramco declaring the amendment of fuel prices used in operating the company’s plant, the company would like to clarify the expected financial impact. |
| Date of Posting the Previous Announcement of Development on Saudi Exchange’s Website |
2024-01-03 Corresponding to 1445-06-21 |
| Hyperlink to the Previous Announcement |
Click Here |
| Change on the Development |
The company announces its joining to the Industrial Sector Competitiveness Program, by signing an agreement with the program. It provides several solutions that help raising the efficiency and quality of energy sources used in industrial facilities, as the program will contribute to reducing the company’s production costs. Accordingly, the financial impact on the increase in the cost of production before signing the agreement was about 13%, and after signing the agreement the financial impact on the increase in the cost of production will be approximately 7%. The company would like to confirm that it will work during the coming period to explore additional ways to raise production efficiency and reduce costs. |
| Financial Impact on the change |
The net impact on the increase in the cost of production is approximately 7 |