Saudi Basic Industries Corp. — Interim / Quarterly Report 2019

Apr 28, 2019

Saudi Basic Industries Corp. announces its interim Financial results for the period ending on 2019-03-31 ( Three Months )

2010 · 28/04/2019 08:06:51 · Announcement #54600 · View on Saudi Exchange

Saudi Basic Industries Corp. announces its interim Financial results for the period ending on 2019-03-31 ( Three Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	37.37	41.86	-10.726	40.13	-6.877
Total Profit (Loss)	11.39	14.53	-21.61	12.24	-6.944
Profit (Loss) Operational	6.15	8.95	-31.284	6.5	-5.384
Net Profit (Loss) after Zakat and Tax	3.41	5.51	-38.112	3.24	5.246
Total Comprehensive Income	1.97	7.06	-72.096	3.94	-50
All figures are in (Billions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Total Share Holders Equity (after deducting minority equity)	175.05	171.33	2.171
Profit (Loss) per Share	1.14	1.84
All figures are in (Billions) Saudi Arabia, Riyals

Element List	Explanation
Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year	The decrease in net income is attributable to lower average selling prices
Reason for increase (decrease) in net profit for current quarter compared to the previous quarter	The increase in net income is attributable to lower selling, general and administrative expenses, lower other expenses and higher share of results of associates and joint ventures. Noting that in 1Q 2019 there was a decrease in average selling prices
Type of the external auditor's opinion	Unmodified opinion
Reclassifications in quarter financial result	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 1Q 2019 earnings release Attached Documents  

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