Saudi Basic Industries Corp. — Interim / Quarterly Report 2017

Oct 29, 2017

Saudi Basic Industries Corp. announces the interim financial results for the period ending on 30-09-2017 (Nine Months)

2010 · 29/10/2017 15:55:07 · Announcement #48347 · View on Saudi Exchange

Saudi Basic Industries Corp. announces the interim financial results for the period ending on 30-09-2017 (Nine Months)

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	5.79	5.23	10.71	3.71	56.06
Gross profit (loss)	14.11	13.22	6.73	10.35	36.33
Operational profit (loss)	8.56	7.86	8.91	5.43	57.64
All figures are in (Billions) Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Net profit (loss)	14.73	13.1	12.44
Gross profit (loss)	38.14	36.22	5.3
Operational profit (loss)	22.34	19.93	12.09
Earning or loss per share, Riyals	4.91	4.37	-
All figures are in (Billions) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	The increase in net income is attributable to higher average selling prices and higher sales quantities
Reasons of increase (decrease) for period compared with same period last year	The increase in net income is attributable to higher average selling prices
Reasons of increase (decrease) for quarter compared with previous quarter	The increase in net income is attributable to higher average selling prices and higher sales quantities
Reclassifications in quarterly financial results	Prior period figures have been re-classified to confirm with the presentation in the current period. Noting that, On January 1 2017 SABIC has adopted IFRS
Other notes	Sales for the current quarter amounted to SR. 39.65 billion compared to SR. 35.80 billion for the similar quarter last year with an increase of 11%, and compared to 35.17 with previous quarter with an increase of 13%. Sales for the current period amounted to SR. 111.78 billion compared to SR. 105.52 billion for the similar period last year with an increase of 6%. Total comprehensive income for the quarter amounted to is SR. 7.54 billion compared to SR. 6.33 billion for the similar quarter last year with an increase of 19% and compared to SR 6.66 billion in previous quarter with an increase of 13%. Total comprehensive income for the current period amounted to SR. 22.12 billion compared to SR. 15.45 billion for the similar period last year with an increase of 43%. The shareholders equity (Excluding non controlling interests) at the end of the period is SR. 161.8 billion compared to SR. 152.64 billion at the end of the period last year with an increase of 6%.

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