| ELEMENT LIST | EXPLANATION |
|---|---|
| Announcement Detail | In accordance with the recommendation of the Board of Directors of International Water Distribution Company on December 16, 2021 AD regarding the converting the company from a limited liability company to a closed joint stock company, and accordingly Tawzea partners approved on 23/12/2021 AD process of the conversion of the Company from a limited liability company to a closed joint stock company, and appointed Wasata Capital as a financial consultant to the conversion process and preparation of the company’s file, in addition approval to begin finalize the necessary procedures to listing the company into the Saudi Parallel Market (Nomu), Saudi Industrial Services Company "SISCO" owns 50% of Tawzea share capital in partnership with Saudi Arabian Amiantit Company.
The listing application is subject to partners final approval and the requirements and approvals of the regulatory and supervisory authorities in the Kingdom of Saudi Arabia, including the Capital Market Authority, the Saudi Stock Exchange (Tadawul), the Ministry of Commerce and other regulatory bodies. |
| ELEMENT LIST | EXPLANATION |
|---|---|
| Announcement Detail | Saudi Industrial Services Co. (“SISCO” or “the Company”) announces
that its subsidiary Saudi Trade and Export Development Company (“LogiPoint”) (which is 76% owned by SISCO), has acquired Elite Group (“Elite”) through its affiliate company Green Dome Investments LLC (“Green Dome”) which is 31.7% owned by LogiPoint. Green Dome has acquired 100% of the share capital of Elite. The transaction was completed on 25 November 2021 corresponding to 20/04/1443. LogiPoint’s contribution to Green Dome to date is SAR 58 million. The impact of the transaction will be reflected in SISCO’s Q4 2021 consolidated financial statements through SISCO’s subsidiary LogiPoint. Elite is a leading fully integrated land freight and courier solutions providers in the Middle East. Elite has over 1000 staff, 600 trucks and 9,290 square meters (100,000 square feet) of warehouse capacity. This acquisition gives SISCO and LogiPoint access to a highly specialized overland freight and courier services business with state-of-the-art operations and assets across Oman, Bahrain, Qatar and the United Arab Emirates, with its regional hub in Dubai. The transaction is in line with SISCO’s new 5-year strategy which aims to expand its presence in logistics services with an emphasis on an asset light model to provide an end-to-end solution for the rapidly growing regional e-commerce sector. The transaction is funded through a combination of debt and equity via Green Dome. There are no related parties in this transaction. |
AS part of out on going ESG initiatives SISCO, association with Andalusia Medical Services, facilitated a free medical checkup for all people, and their families working in the Saudi Business Center. The continued good health of all people is import to us and we are proud to initiate this program for anyone who needs it.
| ELEMENT LIST | CURRENT QUARTER | SIMILAR QUARTER FOR PREVIOUS YEAR | %CHANGE | PREVIOUS QUARTER | % CHANGE |
|---|---|---|---|---|---|
| Sales/Revenue | 223.3 | 259.7 | -14.016 | 252.1 | -11.424 |
| Gross Profit (Loss) | 97 | 132.2 | -26.626 | 123.6 | -21.521 |
| Operational Profit (Loss) | 54.1 | 91.7 | -41.003 | 83.6 | -35.287 |
| Net Profit (Loss) after Zakat and Tax | 4 | 28.2 | -85.815 | 22.5 | -82.222 |
| Total Comprehensive Income | 3.9 | 27.9 | -86.021 | 25.2 | -84.523 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| ELEMENT LIST | CURRENT PERIOD | SIMILAR PERIOD FOR PREVIOUS YEAR | %CHANGE |
|---|---|---|---|
| Sales/Revenue | 733.7 | 642.5 | 14.194 |
| Gross Profit (Loss) | 355.5 | 301.2 | 18.027 |
| Operational Profit (Loss) | 232.4 | 178.2 | 30.415 |
| Net Profit (Loss) after Zakat and Tax | 58.7 | 111.3 | -47.259 |
| Total Comprehensive Income | 60.9 | 108.3 | -43.767 |
| Total Share Holders Equity (after Deducting Minority Equity) | 1,518 | 1,150.5 | 31.942 |
| Profit (Loss) per Share | 0.72 | 1.36 | |
| 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 during the current quarter compared to the same quarter of the previous year is due to the following reasons:
Decline in revenue of SAR 21.0 million, excluding accounting construction revenue, mainly due to lower gateway volumes in the port segment The financial impact of SISCO’s and LogiPoint’s divestment of the 21.2% and 4% equity stakes in RSGT respectively and the resulting reduction in SISCO’s effective share of RSGT Net Income from 60.6% to 36.36% has been reflected in the financial statements for the current quarter |
| 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 decrease in net profit for the current quarter as compared to the previous quarter is due to the following reasons:
Decline in revenue of SAR 26.6 million, excluding accounting construction revenue, mainly due to lower gateway volumes in the port segment Reduction of share of RSGT Net Income from 60.6% to 36.36% in Q3 2021 following divestment of 21.2% stake in RSGT |
| 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 as compared to the previous period is due to the following reasons:
SISCO’s share of net income last year included one-off accounting adjustments amounting to SAR 106.9 million of which SISCO’s share was SAR 64.7 million Reduction of share of RSGT Net Income from 60.6% to 36.36% in Q3 2021 following divestment of 21.2% stake in RSGT |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | Financial Statements for the current period have been prepared according to International Financial Reporting Standards (IFRS) that are endorsed in the Kingdom of Saudi Arabia and based on that the presentation, measurement, recognition and disclosure for some of financial data has been changed to comply with IFRS accounting policies as adopted in the Kingdom. |
| Additional Information | Revenue for the 9-month period, excluding accounting construction revenue, increased by 15.2% year-on-year to SAR 621.9 million driven by a strong performance in the ports and logistics segments. Revenue for the quarter decreased by 8.8% to SAR 217.9 million compared to Q3 2020, and by 10.9% compared to the previous quarter, a result of lower gateway volumes recorded by the ports segment.
Gross profit of SAR 355.5 million increased by 18.0% for 9M 2021 predominantly driven by revenue growth in the ports and logistics segment and efficiencies across segments. Net income for the 9-month period decreased by 47.3% year-on-year to SAR 58.7 million, as last year SISCO net income included one-off accounting adjustments amounting to SAR 106.9 million of which SISCO’s share was SAR 64.7 million. Additionally, SISCO’s share of RSGT net income reduced from 60.6% to 36.36% in Q3 2021 following the divestment of the equity stake in RSGT which further impacted the net income. Outlook and strategy SISCO continues to implement its newly updated strategy and will provide further updates on developments in due course. |
 |
| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | The Board of Directors of Saudi Industrial Services Co. is pleased to invite the valued shareholders to participate and vote in the General Assembly meeting No.31 (the first and second meeting after an hour) scheduled to be held through modern technology methods, and for shareholders safety , In support of preventive and precautionary efforts and measures by the competent and relevant health authorities to address the new coronavirus (COVID-19) and as an extension of the ongoing efforts of all government agencies in Saudi Arabia to take preventive measures to prevent its spread. |
| City and Location of the General Assembly's Meeting | Head Office – Jeddah - through modern technology methods |
| URL for the Meeting Location | www.tadawulaty.com.sa |
| Date of the General Assembly's Meeting | 2021-11-03 Corresponding to 1443-03-28 |
| Time of the General Assembly's Meeting | 19:30 |
| Attendance Eligibility | Shareholders Registered in the Issuer’s Shareholders Registry in the Depository Centre At the End of the Trading Session Preceding the General Assembly’s Meeting as per Laws and Regulations. |
| Quorum for Convening the General Assembly's Meeting | The General Assembly meeting shall be valid if attended by shareholders representing at least one-fourth of the Company’s capital. In the absence of a quorum required for holding the meeting, a second meeting will be held one hour after the end of the period specified for the first meeting. The second meeting shall be valid regardless of the number of shares represented. |
| General Assembly Meeting Agenda | 1. Voting on the recommendation of the Board of Directors to distribute cash dividends to the Shareholders for the first half of the financial year 2021 with total amount of SAR 32.6 Million at SAR 0.40 per share, which represent 4 % of the par value; where the eligibility will be to the Shareholders owning shares on the General Assembly Meeting date, and those whose registered in the Company’s share registry at the Depository Center at the end of the second trading day following the due date. The date of dividends distribution will be announced later. 2. Voting on authorizing the Board of Directors to distribute interim dividends to the shareholders for the financial year 2021. |
| Proxy Form | |
| E-Vote | The company assures to all its shareholders that registration and voting are limited to the assembly's items through (electronic voting), which will be available to shareholders registered on the Tadawulaty Platform from 10:00 am on Saturday 24 Rabe1 1443 AH (30 Oct 2021 AD) until the end of the assembly time.
Registration and voting for Tadawulaty services will be available free of charge to all shareholders using the following link: (www.tadawulaty.com.sa) |
| Eligibility for Attendance Registration and Voting | Eligibility for Registering the Attendance of the General Assembly’s Meeting Ends upon the Convenience of the General Assembly’s Meeting. Eligibility for Voting on the Business of the Meeting Agenda Ends upon the Counting Committee Concludes Counting the Votes. |
| Method of Communication | In the event of an inquiry, we hope to contact the Shareholders Relations Department through Phone number: 0126619500
Email: Maqbool@sisco.com.sa |
| ELEMENT LIST | EXPLANATION |
|---|---|
| Announcement Detail | SISCO is pleased to announce the launch of its new corporate strategy to drive growth and achieve leadership positions in all three of its core segments of ports, logistics and water.
The newly updated strategy will see SISCO leverage existing capabilities in its core segments to invest in assets with a significant opportunity to be scaled up through its current portfolio network and accelerate the returns timeline for SISCO and its shareholders. The strategy’s growth objectives will be achieved through organic and inorganic investments, based on three key pillars: • Expand logistics services with an emphasis on asset light model • International expansion of the ports segment • Drive the full potential of existing portfolio companies Further details of the strategy are included in the attached press release. SISCO will host an investor call to present the new strategy and the details thereof will be provided in due course. |
| Attached Documents | |
SISCO announces the signing of a contract for one of its subsidiaries with the Saudi Ports Authority
| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | Saudi Industrial Services Company (SISCO) announces that its subsidiary, Kindasa Water Services Company (Kindasa) has signed a new five-year contract with the Saudi Ports Authority (Mawani) |
| Date of Announcement of the Award | 2021-10-04 Corresponding to 1443-02-27 |
| Contract Subject Matter | Signing a new five-year contract with the Saudi Ports Authority (Mawani) |
| Date of Signing the Contract | 2021-10-04 Corresponding to 1443-02-27 |
| Contract Value | Not Applicable |
| Contract Details | Saudi Industrial Services Company (SISCO) is pleased to announce that its subsidiary, Kindasa Water Services Company (Kindasa) has signed a new five-year contract with the Saudi Ports Authority (Mawani) to continue their operations of the desalination plant in Jeddah Islamic Port with new terms and conditions. The new contract will be effective from 29 June 2022. |
| Contract Duration | five-years |
| Financial Impact and the Relevant Period | The financial and accounting impact of this contract on SISCO’s financial statements will be disclosed in due course following review by the external auditors. |
| Related Parties | none |
| ELEMENT LIST | EXPLANATION |
|---|---|
| Announcement Detail | Referring to the Company's announcements on the Saudi Exchange website dated 27/01/2021G corresponding to 14/06/1442 and 15/07/2021G corresponding to 05/12/1442, Saudi Industrial Services Company (“SISCO”) announces an update on the financial impact of the sale of a 21.2% direct equity stake, together with the sale of a 4% equity stake by subsidiary Saudi Trade and Export Development Company Limited (LogiPoint) (in which it owns 76%) in its subsidiary Red Sea Gateway Terminal Limited (“RSGT”) (the “Transaction”) following the finalization of associated transaction costs.
SISCO received a total gross consideration of SAR 556.5 million (before all transaction costs) for the divestment of its 21.2% equity stake in RSGT.
LogiPoint received a total gross consideration of SAR 105 million (before all transaction costs) for the divestment of its 4% equity stake in RSGT.
The Transaction was treated as a non-adjusting event during Q2 2021 and a disclosure of the transaction and its accounting treatment was included in the notes to the Q2 2021 financial statements.
Following the finalization of the transaction costs, the impact of the transaction on the Q3 2021 financial statements (subject to audit by the external auditors) is as follows: • The transaction will only be recognized through the consolidated statement of financial position (balance sheet) and therefore no impact from the transaction will be recognized in the Group’s Q3 2021 consolidated income statement • Combined unaudited net accounting impact of SAR 361.9 million (subject to audit by the external auditors) for both SISCO and LogiPoint transactions will be reflected in the equity in the Group’s Q3 2021 consolidated financial statements. • SISCO’s effective share of RSGT Net Income will reduce from 60.6% to 36.36% in Q3 2021 From an accounting perspective, SISCO will continue to consolidate RSGT. |
| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | Regarding to Saudi Industrial Services Company announcement “SISCO” on 18/01/1443 H corresponding to 26/08/2021 for selecting a consortium which is formed between International Water Distribution Company "Tawzea" (which SISCO owns 50% of its share capital of SAR 146 million in partnership with Saudi Arabian Amiantit Company) with the Spanish company "Acciona" and "Tamasuk” as the preferred bidder for Tabuk Independent Sewage Plant Project and Buraydah Independent Sewage Plant Project, the Saudi Industrial Services Company “SISCO” announces that the contract has been signed by the consortium with the Saudi Water Partnerships Company for plant development on 19/02/1443 H, corresponding to 26/09/2021. |
| Previous Announcement | Saudi Industrial Services CO. Announces about choosing the consortium, which one of its associates participates in, as the preferred bidder for Buraydah and Tabuk plants |
| Date of Previous Announcement on Tadawul's Website | 2021-08-26 Corresponding to 1443-01-18 |
| Percentage of fulfilled achievement | Not applicable |
| Event's Expected Completion Date | Not applicable |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | Not applicable |
| Additional Information | The project includes design, build, operate and maintain the plant and transfer the ownership of the project on (BOT) basis, along with the development of infrastructure and related facilities. The term of the contract is 25 years. The project will be financed through several banks. The objective of the project will be to develop wastewater treatment facilities with a capacity up to 150,000 cubic meters per day for Buraydah and 90,000 cubic meters per day for Tabuk.
Construction of the project is expected to start during the second quarter of 2022, once the financing agreements with the banks are finalized. Any updates regarding the cost of investment. The financial impact will be reflected once the project is completed which is expected at the end of 2024 under SISCO's share of results of associates. and other updates related to this project will be announced in due time. |
| ELEMENT LIST | EXPLANATION |
|---|---|
| Introduction | Regarding to Saudi Industrial Services Company announcement “SISCO” on 18/01/1443 H corresponding to 26/08/2021 for selecting a consortium which is formed between International Water Distribution Company "Tawzea" (which SISCO owns 50% of its share capital of SAR 146 million in partnership with Saudi Arabian Amiantit Company) with the Spanish company "Acciona" and "Tamasuk” as the preferred bidder for Medina Independent Sewage Plant Project, the Saudi Industrial Services Company “SISCO” announces that the contract has been signed by the consortium with the Saudi Water Partnerships Company for plant development on 19/02/1443 H, corresponding to 26/09/2021. |
| Previous Announcement | Saudi Industrial Services CO. Announces about choosing the consortium, which one of its associates participates in, as the preferred bidder for Madina plant |
| Date of Previous Announcement on Tadawul's Website | 2021-08-26 Corresponding to 1443-01-18 |
| Percentage of fulfilled achievement | Not applicable |
| Event's Expected Completion Date | Not applicable |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | Not applicable |
| Additional Information | The project includes design, build, operate, and maintain the plant and transfer the ownership of the project on (BOT) basis, along with the development of infrastructure and related facilities. The term of the contract is 25 years. The project will be financed through several banks. The objective of the project will be to develop a wastewater treatment facility with a capacity up to 200,000 cubic meters per day which expandable to 375,000 cubic meters.
Construction of the project is expected to start during the second quarter of 2022, once the financing agreements with the banks are finalized. Any updates regarding the cost of investment. The financial impact will be reflected once the project is completed which is expected at the end of 2024 under SISCO's share of results of associates. and other updates related to this project will be announced in due time. |
| ELEMENT LIST | EXPLANATION |
|---|---|
| Announcement Detail |
Saudi Industrial Services Company (SISCO) announces about one of its associates, International Water Distribution Company “Tawzea” which SISCO owns 50% of its share capital of SAR 146 million in partnership with Saudi Arabian Amiantit Company. A consortium between “Tawzea" with 35%, a Spanish international company "Acciona "with 35% and "Tamasuk" with 30% was chosen as the preferred bidder for Buraydah and Tabuk Independent Sewage Plant Project on 25/08/2021 by the Saudi Water Partnership Company. Upon final award of the project, the consortium will finance, develop, design, build, operate and maintain the two plants and then transfer, on (BOT) basis, along with the development of infrastructure and related facilities. The term of the contract is 25 years. The company which will be established for the project will treat the full capacity of the wastewater supplied to the company with capacity up to 150,000 cubic meters per-day for Buraydah and 90,000 cubic meter for Tabuk. SISCO will announce any updates regarding the project and financial impact on its financials once the contract is awarded. |
| ELEMENT LIST | EXPLANATION |
|---|---|
| Announcement Detail |
Saudi Industrial Services Company (SISCO) announces about one of its associates, International Water Distribution Company “Tawzea” which SISCO owns 50% of its share capital of SAR 146 million in partnership with Saudi Arabian Amiantit Company. A consortium between “Tawzea" with 35%, a Spanish international company "Acciona "with 35% and "Tamasuk" with 30% was chosen as the preferred bidder for Medina Independent Sewage Plant Project on 25/08/2021 by the Saudi Water Partnership Company. Upon final award of the project, the consortium will finance, develop, design, build, operate and maintain the plant and then transfer, on (BOT) basis, along with the development of infrastructure and related facilities. The term of the contract is 25 years. The company which will be established for the project will treat the full capacity of the wastewater supplied to the company with capacity up to 200,000 cubic meters per-day SISCO will announce any updates regarding the project and financial impact on its financials once the contract is awarded. |