Saudi Arabia Refineries Co. — Earnings Release 2021

Mar 28, 2022

Saudi Arabia Refineries Co. announces its Annual Financial Results for the Period Ending on 2021-12-31

2030 · 28/03/2022 08:13:32 · Announcement #67336 · View on Saudi Exchange

Saudi Arabia Refineries Co. announces its Annual Financial Results for the Period Ending on 2021-12-31

Element List	Current Year	Previous Year	%Change
Sales/Revenue	8,178,451	16,825,460	-51.392
Gross Profit (Loss)	8,178,451	16,825,460	-51.392
Operational Profit (Loss)	5,319,670	14,035,802	-62.099
Net Profit (Loss) after Zakat and Tax	6,592,233	13,380,263	-50.731
Total Comprehensive Income	62,460,541	69,362,306	-9.95
Total Share Holders Equity (after Deducting Minority Equity)	559,534,818	508,324,277	10.074
Profit (Loss) per Share	0.44	0.89
All figures are in (Actual) 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 decrease in net profit during the current year 2021 compared to the previous year 2020 is due to:

1- No distribution of the profits due for the second half of the year 2021 from the Saudi Industrial Investment Group Company (a company in which it is invested), where an amount of 7,597,240 riyals was distributed compared to the profits of the previous year in the amount of 15,194,480 riyals.

2- A decrease in the company’s share of the associate’s profits during the current year (profits from the shareholding in the Arab Tankers Company) Statement of the type of external auditor's report Unmodified opinion Reclassification of Comparison Items Nothing Additional Information During the year, the bank guarantee of the Arab Sulfonate Company Ltd. was settled with the Saudi British Bank (SABB), as the bank absolved the Saudi Arabian Refineries Company, as one of the guarantors, from any future claims related to the financial guarantee.

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