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Saudi Basic Industries Corp. Interim / Quarterly Report 2019
53286_rns_2020-01-29_13376ca6-3959-44cd-9330-8eef2c6a2412.html
Interim / Quarterly Report
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Saudi Basic Industries Corp. announces its Interim Financial Results for the Period Ending on 2019-12-31 ( Twelve Months )
2010 · 29/01/2020 07:44:42 · Announcement #57394 · View on Saudi Exchange
Saudi Basic Industries Corp. announces its Interim Financial Results for the Period Ending on 2019-12-31 ( Twelve Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 32.81 | 40.27 | -18.524 | 33.69 | -2.612 |
| Gross Profit (Loss) | 4.61 | 12.2 | -62.213 | 9.63 | -52.128 |
| Operational Profit (Loss) | -0.64 | 6.55 | - | 4.66 | - |
| Net Profit (Loss) after Zakat and Tax | -0.72 | 3.22 | - | 0.83 | - |
| Total Comprehensive Income | 1.04 | 3.92 | -73.469 | -1.89 | - |
| All figures are in (Billions) Saudi Arabia, Riyals |
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 139.74 | 169.13 | -17.377 |
| Gross Profit (Loss) | 35.54 | 57.84 | -38.554 |
| Operational Profit (Loss) | 15 | 36.28 | -58.654 |
| Net Profit (Loss) after Zakat and Tax | 5.63 | 21.52 | -73.838 |
| Total Comprehensive Income | 3.57 | 22.02 | -83.787 |
| Total Share Holders Equity (after Deducting Minority Equity) | 168.69 | 173.08 | -2.536 |
| Profit (Loss) per Share | 1.88 | 7.17 | |
| 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 net loss in 4Q 2019 is mainly attributable to lower average selling prices in addition to the recording of SR 2.8 billion impairment provision in Ibn Rushd, SABIC share amounted to SR 1.3 billion. |
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to | The net loss in 4Q 2019 is mainly attributable to lower average selling prices in addition to the recording of SR 2.8 billion impairment provision in Ibn Rushd, SABIC share amounted to SR 1.3 billion. |
| 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 mainly attributable to lower average selling prices in addition to the recording of impairment provisions in Ibn Rushd, in the amount of SR 2.8 billion, SABIC share SR 1.3 billion and in the investment in Clariant AG, in the amount of SR 1.5 billion. |
| 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 4Q and 2019 earnings release and presentation.Attached Documents 
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.