SABIC Agri-Nutrients Co. — Earnings Release 2010

Jan 16, 2011

THE SAUDI ARABIAN FERTILIZER COMPANY (SAFCO) ANNOUNCES ITS FINANCIAL RESULTS FOR THE PERIOD ENDING ON DEC. 31, 2010 (12 MONTHS)

2020 · 16/01/2011 16:30:58 · Announcement #19900 · View on Saudi Exchange

THE SAUDI ARABIAN FERTILIZER COMPANY (SAFCO) ANNOUNCES ITS FINANCIAL RESULTS FOR THE PERIOD ENDING ON DEC. 31, 2010 (12 MONTHS)

1. Net income in the 4th quarter is SR (1025) million, compared to SR (335) million for the corresponding quarter of the previous year, an increase of (206%), and SR (604) million for the 3rd quarter of 2010, an increase of (70%).

2. Gross income in the 4th quarter is SR (918) million, compared to SR (359) million for the corresponding quarter of the previous year, an increase of (156%).

3. Operating income in the 4th quarter is SR (896) million, compared to SR (350) million for the corresponding quarter of the previous year, an increase of (156%).

4. Net income during the 12 months is SR (3235) million, compared to SR (1804) million for the same period of the previous year, an increase of (79%).

5. Earnings per share during the 12 months is SR (12.94), compared to SR (7.22) in the previous year.

6. Gross income over the 12 months is SR (2690) million, compared to SR (1710) million for the same period of the previous year, an increase of (57%).

7. Operating income during the 12 months is SR (2622) million, compared to SR (1658) million in the same period of the previous year, an increase of (58%).

8. The increased net income in year 2010 and the 4th quarter of the same year compared to the corresponding periods of last year, and the increased net income in 4th quarter of 2010 compared to the 3rd quarter of same year is due to higher petrochemical prices and increase of sales volumes. For comparison, the 2009 audited numbers are used for the corresponding 4th quarter 2009

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