Saudi Basic Industries Corp. — Interim / Quarterly Report 2019

Oct 27, 2019

Saudi Basic Industries Corp. announces its Interim Financial Results for the Period Ending on 2019-09-30 ( Nine Months )

2010 · 27/10/2019 08:03:28 · Announcement #56464 · View on Saudi Exchange

Saudi Basic Industries Corp. announces its Interim Financial Results for the Period Ending on 2019-09-30 ( Nine Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	33.69	43.71	-22.923	35.87	-6.077
Gross Profit (Loss)	9.63	15.13	-36.351	10.03	-3.988
Operational Profit (Loss)	4.66	9.96	-53.212	4.83	-3.519
Net Profit (Loss) after Zakat and Tax	0.83	6.1	-86.393	2.12	-60.849
Total Comprehensive Income	-1.89	5.84	-	2.45	-
All figures are in (Billions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	106.93	128.86	-17.018
Gross Profit (Loss)	30.92	45.65	-32.267
Operational Profit (Loss)	15.64	29.73	-47.393
Net Profit (Loss) after Zakat and Tax	6.36	18.3	-65.245
Total Comprehensive Income	2.53	18.1	-86.022
Total Share Holders Equity (after Deducting Minority Equity)	167.65	169.17	-0.898
Profit (Loss) per Share	2.12	6.1
All figures are in (Billions) Saudi Arabia, Riyals

Element List	Explanation
Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to	The decrease in net income is attributable to lower average selling prices in addition to recording SR 1.5 billion impairment provision in the investment in (Clariant AG)
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to	The decrease in net income is attributable to recording SR 1.5 billion impairment provision in the investment in (Clariant AG)
Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to	The decrease in net income is attributable to lower average selling prices in addition to recording SR 1.5 billion impairment provision in the investment in (Clariant AG)
Basis of the External Auditor's Opinion	Unmodified opinion
Reclassification of Comparison Items	Certain prior period figures have been re-classified to confirm with the presentation in the current period
Additional Information	On January 1st 2019 SABIC has adopted IFRS 16.

Attached 3Q and year to date 2019 earnings releaseAttached Documents  

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