Basic Chemical Industries Co. — Earnings Release 2024

Mar 6, 2025

Basic Chemical Industries Co. announces its Annual Financial results for the period ending on 2024-12-31

1210 · 06/03/2025 08:00:00 · Announcement #85617 · View on Saudi Exchange

Basic Chemical Industries Co. announces its Annual Financial results for the period ending on 2024-12-31

Element List	Current Year	Previous Year	%Change
Sales/Revenue	755.58	741.11	1.95
Gross Profit (Loss)	181.14	167.96	7.85
Operational Profit (Loss)	64.26	64.25	0.01
Net profit (Loss)	40.39	43.98	-8.16
Total Comprehensive Income	40.37	44.55	-9.38
Total Shareholders Equity (after Deducting Minority Equity)	600.98	592.35	1.46
Profit (Loss) per Share	0.31	0.2
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	-	-
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	The reason for the increase in Revenues this year comparing to the prior year is due to

1- An increase in sales of Basic Chemicals of 16M, this increase resulted from a 5% increase in tonnage sold which caused revenues to increase by 7M, plus an increase in selling prices by 6% which caused revenues to increase by 9 M.

2- A decrease in Industrial Chemicals sales by 5.6 million despite a 26% increase in selling prices. This decrease is due to a 38% decrease in quantities sold compared to the prior year.

3- An increase in Toll Manufacturing sales of 6 million resulting from a 13% increase in selling prices compared to the prior year.

4- A decrease in sales of polymers by 10.6 M.

5- An increase in sales of adhesives by 9 M. The reason of the increase (decrease) in the net profit during the current year compared to the last year is Despite the increase in sales and the decrease in financing costs, this decrease is mainly due to an increase in general and administrative expenses, zakat tax, and a decrease in profits from the sale of fixed assets and other operating income. 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) N/A Reclassification of Comparison Items Corresponding figures have been rearranged and reclassified, wherever considered necessary, to conform with the current year’s presentation. Additional Information 1- Sales for the current year amounted to 755 M compared to 741 M for the same period of the prior year, an increase of 2%.

2- Total comprehensive income (after excluding minority interests) for this year reached 8.6 M compared to 6.4 M for the prior year, with an increase of 34.4%.

3- Shareholders’ equity (after excluding minority interests) at the end of the current fiscal year amounted to 601 M, compared to 592 M at the end of the prior fiscal year, an increase of 1.5%.

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