News

National Petrochemical Co. announces its Interim Financial Results for the Period Ending on 2020-06-30 ( Six Months )

ELEMENT LISTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR%CHANGEPREVIOUS QUARTER% CHANGE
Sales/Revenue1,3461,651-18.4731,515-11.155
Gross Profit (Loss)-121452250
Operational Profit (Loss)-243321125
Net Profit (Loss) after Zakat and Tax-18918350
Total Comprehensive Income-18918350
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENT LISTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR%CHANGE
Sales/Revenue2,8613,671-22.064
Gross Profit (Loss)128978-86.912
Operational Profit (Loss)-119697
Net Profit (Loss) after Zakat and Tax-139371
Total Comprehensive Income-139371
Total Share Holders Equity (after Deducting Minority Equity)7,7697,871-1.295
Profit (Loss) per Share-0.290.77
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENT LISTEXPLANATION
Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed toThe main reasons for the net loss during the current quarter compared with net profit of the same quarter of last year is due the following:1- The permanent shutdown of the Polystyrene unit, and the total depreciation of its value, which impacted Petrochem net income by SR 254 million.2- Lower selling prices and decrease in other income.
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed toThe main reasons for the net loss during the current quarter compared with net profit of the previous quarter is due the following:1- The permanent shutdown of the Polystyrene unit, and the total depreciation of its value, which impacted Petrochem net income by SR 254 million.2- Lower selling prices and decrease in other income.
Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed toThe main reasons for the net loss during the current period compared with net profit of the same period from last year is due the following:1- The permanent shutdown of the Polystyrene unit, and the total depreciation of its value, which impacted Petrochem net income by SR 254 million.2- Lower selling prices and decrease in other income.
Basis of the External Auditor’s OpinionUnmodified opinion
Reclassification of Comparison ItemsCertain figures of the prior year have been re-classified to conform to the current period presentation.
Additional InformationThe effect of the total depreciation of the Polystyrene unit during this quarter, is shown in the cost of sales (Income statement), which is impacted by SR 390 million, Petrochem share is SR254 million after excluding the minority share