Saudi Basic Industries Corp. — Interim / Quarterly Report 2013

Apr 20, 2013

SABIC announces interim consolidated financial results for the three month period ended March 31, 2013 (three months)

2010 · 20/04/2013 09:01:04 · Announcement #30395 · View on Saudi Exchange

SABIC announces interim consolidated financial results for the three month period ended March 31, 2013 (three months)

Saud Basic Industries Corporation (SABIC) has announced the interim consolidated financial results for the period ended March 31, 2013:

1.The net income for the first quarter was SR 6.56 billion compared to the net income of SR 7.27 billion for the same quarter of last year, representing a decrease of 10%, and compared to the net income for the fourth quarter of 2012 of SR 5.83 billion, representing an increase of 13%.

2.The gross profit for the first quarter amounted to SR 14.02 billion compared to the same quarter of last year of SR 14.32 billion, representing a decrease of 2%.

3.The income from main operations for the first quarter amounted to SR 11.05 billion compared to SR 11.47 billion for the same quarter of last year, representing a decrease of 4%.

4.The earnings per share attributable to net income for the three month period ended March 31, 2013 amounted to SR 2.19 compared to SR 2.42 for the same period of last year.

5.The decrease in net income of the first quarter compared to the same quarter of last year, resulted from lower production and sales volumes due to certain planned maintenance activities in some affiliates. However, the improvement in sales prices of certain products has reduced the impact.

6.The increase in net income for the first quarter compared to the fourth quarter of 2012, resulted from improvement in sales prices of certain products, despite lower production and sales volumes due to certain planned maintenance activities in some affiliates.

7. Certain prior period figures have been re-classified to confirm with presentation in the current quarter.

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