Basic Chemical Industries Co. — Earnings Release 2023

Mar 25, 2024

Basic Chemical Industries Co. announces its Annual Financial results for the period ending on 2023-12-31

1210 · 25/03/2024 08:02:04 · Announcement #78902 · View on Saudi Exchange

Basic Chemical Industries Co. announces its Annual Financial results for the period ending on 2023-12-31

Element List	Current Year	Previous Year	%Change
Sales/Revenue	741.11	674.67	9.85
Gross Profit (Loss)	167.96	172.91	-2.86
Operational Profit (Loss)	73.59	94.99	-22.53
Net profit (Loss)	43.98	70.4	-37.53
Total Comprehensive Income	44.55	73.19	-39.13
Total Share Holders Equity (After Deducting the Minority Equity)	592.35	613.46	-3.44
Profit (Loss) per Share	0.2	1.47
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Amount	Percentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value	-	-
Accumulated Losses	-	-
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year	1-Increase in sales of Basic Chemicals and Chlore Alkali amount 36M, this increase resulted from 31% increase in tonnage sold.

2-Increase in sales of polymer amount 15.7M, this increase resulted from 23% increase in tonnage sold.

3-Increase in sales of Adhesives amount 14.7M, this increase resulted from 3% increase in tonnage sold. The reason of the increase (decrease) in the net profit during the current year compared to the last year is A slight decrease in gross profit margin, increase in Distribution and financing expenses, despite the increase in gains from selling fixed assets. Statement of the type of external auditor's report Unmodified opinion Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) - Reclassification of Comparison Items - Additional Information 1- Sales for this year reached 741M comparing to 675M for last year, with an increase of 9.9%.

2- Total comprehensive income (excluding minority interests) for this year reached 6.4 million compared to 43.3 million during last year, with a decrease of 85.2%.

3- Shareholders' equity (excluding minority interests) for this year end reached 592.35 million compared to 613.46 million for the prior year end, with a decrease of 3.4%.

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.