Saudi Basic Industries Corp. — Earnings Release 2011

Feb 22, 2012

SABIC ANNOUNCES THE AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR ENDED 31/12/2011

2010 · 22/02/2012 16:15:09 · Announcement #24297 · View on Saudi Exchange

SABIC ANNOUNCES THE AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR ENDED 31/12/2011

Saudi Basic Industries Corporation (SABIC) has announced the audited consolidated financial results for the year ended 31/12/2011:

1- Net Income of SAR 29.24 billion compared to Net Income of SAR 21.53 billion for the previous year representing an increase of 36%.

2- The earnings per share was SAR 9.75 compared to the earnings per share of SAR 7.18 for the previous year.

3- Gross Profit of SAR 62.13 billion compared to Gross Profit of SAR 48.55 billion for the previous year representing an increase of 28%.

4- Operating Profit of SAR 48.84 billion compared to Operating Profit of SAR 37.89 billion for the previous year representing an increase of 29%.

5- The increase in net income for the year ended December 31, 2011 compared to previous year is attributable to the improvement in sales prices of most of products as well as improved operating performance resulting in increased production and sales quantities.

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.