Saudi Basic Industries Corp. — Earnings Release 2015

Feb 21, 2016

Saudi Basic Industries Corp announces the annual financial results for the period ending on 31-12-2015

2010 · 21/02/2016 15:41:28 · Announcement #41257 · View on Saudi Exchange

Saudi Basic Industries Corp announces the annual financial results for the period ending on 31-12-2015

Element	Current year	Previous year	% Change
Net profit (loss)	18.77	23.35	-19.61
Earning or loss per share, Riyals	6.26	7.78	-
Gross profit (loss)	43.03	51.48	-16.41
Operational profit (loss)	28.52	37.73	-24.41

*All figures are in (Billions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of annual financial results	The decrease in net income is attributable to lower average sales prices with a sharp decline in the metals segment sales prices. Net loss for the metals segment amounted to SR 1.5 billion, despite the reduction in cost of sales in addition, an impairment of plant and equipment at Ibn Rushd has been recorded amounting to SR 781 million, SABIC share amounted to SR 375 million
Reclassifications in annual financial results	Certain prior year figures have been re-classified to conform with the presentation in the current year

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