Saudi Basic Industries Corp. — Interim / Quarterly Report 2022

Aug 9, 2022

Saudi Basic Industries Corp. announces its Interim Financial Results for the Period Ending on 2022-06-30 ( Six Months )

2010 · 09/08/2022 08:35:27 · Announcement #69582 · View on Saudi Exchange

Saudi Basic Industries Corp. announces its Interim Financial Results for the Period Ending on 2022-06-30 ( Six Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	55.98	42.42	31.97	52.64	6.34
Gross Profit (Loss)	16.56	13.65	21.32	14.7	12.65
Operational Profit (Loss)	9.8	10.05	-2.49	9.32	5.15
Net Profit (Loss) after Zakat and Tax	7.93	7.64	3.79	6.47	22.57
Total Comprehensive Income	6.57	7.65	-14.12	7.44	-11.69
All figures are in (Billions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	108.62	79.95	35.86
Gross Profit (Loss)	31.26	24.74	26.35
Operational Profit (Loss)	19.12	17.04	12.21
Net Profit (Loss) after Zakat and Tax	14.4	12.51	15.11
Total Comprehensive Income	14.02	12.43	12.79
Total Share Holders Equity (after Deducting Minority Equity)	180.66	169.34	6.68
Profit (Loss) per Share	4.8	4.17
All figures are in (Billions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	The increase in net income is attributable to:

1) Higher average selling prices and sales volume offset by increase in feedstock costs and higher selling and distribution expenses.

2) Increase in share of results of associates and joint ventures.The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is The increase in net income is attributable to:

1) Higher average selling prices and sales volume partially offset by increase in feedstock costs and higher selling and distribution expenses.

2) Increase in share of results of associates and joint ventures.The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is The increase in net income is attributable to higher average selling prices and sales volume despite the increase in feedstock prices and selling and distribution expenses. This was coupled by increase in share of results of associates and joint ventures.Statement of the type of external auditor's report Unmodified conclusionReclassification of Comparison Items Certain prior period figures have been re-classified to conform with the presentation in the current period.Additional Information Attached 2Q 2022 earnings release and presentation.Attached Documents     

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