Basic Chemical Industries Co. — Earnings Release 2012

Feb 25, 2012

BASIC CHEMICAL INDUSTRIES COMPANY (BCI) ANNOUNCES FINANCIAL RESULTS FOR THE YEAR ENDED DECEMBER 31, 2011

1210 · 25/02/2012 16:18:31 · Announcement #24352 · View on Saudi Exchange

BASIC CHEMICAL INDUSTRIES COMPANY (BCI) ANNOUNCES FINANCIAL RESULTS FOR THE YEAR ENDED DECEMBER 31, 2011

Basic Chemical Industries Company (BCI) announces the annual financial results for the period ending 31/12/2011:

1) The net income of SAR 59.3 million for the year compared to SAR 66.2 million for the previous year, a decrease of 10.4%.

2) Earnings per share during the year is SAR 2.2 compared to SAR 2.4 for the previous year.

3) Gross profit of SAR 173.4 million for the year compared to SAR 161.2 million for the previous year, an increase of 7.6%.

4) Operating income of SAR 97.8 million for the year compared to SAR 92.4 million for the previous year, an increase of 5.8%.

5) The decrease in net income for the year ended 31 December 2011 compared to previous year is mainly due to increase in cost of sales and operating expenses in percentage greater than the increase in sales. Also, the share of foreign companies profits for the year ended 31 December 2011 (Minority interest share of profit) greater than last year by almost 50% as a result of increased in sales and profits of these companies compared with overall performance of the other companies within the group.

6) Some figures for prior year were reclassified to conform to the current year presentation.

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.