Saudi Basic Industries Corp. — Interim / Quarterly Report 2012

Jan 19, 2013

SABIC announces interim consolidated financial results for the period ended December 31, 2012 (Twelve months)

2010 · 19/01/2013 09:23:52 · Announcement #28342 · View on Saudi Exchange

SABIC announces interim consolidated financial results for the period ended December 31, 2012 (Twelve months)

Saud Basic Industries Corporation (SABIC) has announced the interim consolidated financial results for the period ended December 31, 2012:

1.The net income for the fourth quarter ended December 31, 2012 was SR 5.83 billion compared to the net income of SR 5.24 billion for the same quarter in 2011 representing an increase of 11.3%, and compared to the net income for the third quarter of 2012 of SR 6.31 billion representing a decrease of 7.6%

2.The gross profit for the fourth quarter ended December 31, 2012 amounted to SR 13.88 billion compared to the same quarter in 2011 of SR 13.37 billion representing an increase of 3.8 %

3.The income from operations for the quarter ended December 31, 2012 amounted to SR 10.22 billion compared to SR 9.51 billion for the same quarter in 2011. This represents an increase of 7.5%

4.The net income for the twelve month period ended December 31, 2012 amounts to SR 24.72 billion compared to the net income of SR 29.24 billion for the same period in the preceding year, a decrease of 15.5%

5.The earnings per share for the twelve month period ended December 31, 2012 amounted to SR 8.24 compared to SR 9.75 for the same period in 2011

6.The gross profit for the twelve month period ended December 31, 2012 was SR 54.31 billion, compared to SR 62.13 billion for the same period in 2011, a decrease of 12.6%

7.The income from operations for the twelve month period ended December 31, 2012 was SR 40.94 billion, compared to SR 48.84 billion for the same period in 2011, a decrease of 16.2%

8.The increase in net income for the fourth quarter ended December 31, 2012 compared to the same quarter in 2011 is attributable to higher sales volumes and sales prices for certain products

9.The decrease in net income for the twelve month period ended December 31, 2012 compared to the same period in 2011 is due to higher cost of sales and lower sales prices for certain products, despite higher sales and production volumes and reduction in financial charges

10.The decrease in net income for the fourth quarter ended December 31, 2012 compared to the third quarter is attributable to higher cost of sales, as well as lower other income related to the recording of polycarbonate licensing gains in the third quarter, despite improvement in sales prices of certain products

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