• Riyadh, Kingdom of Saudi Arabia

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Astra Industrial Group announces to Invites its Shareholders to Attend the Ordinary General Assembly Meeting (First Meeting) through modern technology means
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The Board of Directors of Astra Industrial Group is pleased to invite the shareholders to participate and vote in the Ordinary General Assembly (First Meeting) which will be held on Sunday 11/04/2021 at 6:30PM via modern technology means using Tadawulaty System, in order to protect the shareholders health and prevent the spread of the Coronavirus (COVID-19), as per preventive and precautionary efforts and measures by the relevant health authorities and as an extension of the continuous efforts made by all government agencies in the Kingdom of Saudi Arabia to take the necessary preventive measures to prevent its spread.

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Astra Industrial Group announces its Annual Financial Results for the Period Ending on 2020-12-31
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Net profit increases in general due to:
1. Increase in sales and gross profit in the following sectors:

      a. Pharmaceuticals
      b. Specialty chemicals

While noting that this increase was offset partially by impairment of financial assets.

2. Lower other expenses since in last year there was: Non-recurring negative impact as a result of the settlement of a subsidiary in Sudan in the pharmaceuticals sector the loan to its parent company in KSA realizing currency losses in the income statement which was partially offset by Non-recurring positive impact in the previous year in other income from fair values remeasurement of the company’s investment and loans to Tanmiya for steel company in accordance with IFRS

3. Decrease in financial charges in the following sectors:

      a. Pharmaceuticals
      b. Specialty chemicals
      c. Power and Steel

4. Change in accounting for the losses in joint venture due to the consolidation of its financial statements

While noting that there was increase in Zakat expense

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