Basic Chemical Industries Co. — Earnings Release 2022

Mar 22, 2023

Basic Chemical Industries Co. announces its Annual Financial Results for the Period Ending on 2022-12-31

1210 · 22/03/2023 08:00:36 · Announcement #72531 · View on Saudi Exchange

Basic Chemical Industries Co. announces its Annual Financial Results for the Period Ending on 2022-12-31

Element List	Current Year	Previous Year	%Change
Sales/Revenue	674.67	513.38	31.42
Gross Profit (Loss)	176.15	143.76	22.53
Operational Profit (Loss)	81.43	74.39	9.46
Net Profit (Loss) after Zakat and Tax	70.4	57.72	21.97
Total Comprehensive Income	73.19	54.93	33.24
Total Share Holders Equity (after Deducting Minority Equity)	613.46	570.15	7.6
Profit (Loss) per Share	1.47	1.25
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current year compared to the last year is	The reason is due to increase in Sales, plus profit from fair value of derivative financial instruments.
Statement of the type of external auditor's report	Unmodified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion	As at 31 December 2022, the Group has non-current assets of Saudi Riyals 771.4 million, net of impairment losses of Saudi Riyals 6.1 million.
Reclassification of Comparison Items	Comparative figures have been reclassified to conform to current year figures
Additional Information	1- Sales for current year reached 675M comparing to 513M for prior year, with an increase of 31.42%

2- Total comprehensive income for the current year reached 73.19 million compared to 54.93million for prior year, an increase of 33.24%.

3- Shareholders' equity (excluding minority interests) at the end current year reached 613.46 million comparing to 570.15 million at the end of prior year, an increase of 7.60%.

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