News

National Petrochemical Co. announces its Interim Financial Results for the Period Ending on 2020-09-30 ( Nine Months )

ELEMENT LISTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR%CHANGEPREVIOUS QUARTER% CHANGE
Sales/Revenue1,4361,958-26.6591,3466.686
Gross Profit (Loss)315495-36.363-121
Operational Profit (Loss)192335-42.686-243
Net Profit (Loss) after Zakat and Tax117171-31.578-189
Total Comprehensive Income117171-31.578-189
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENT LISTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR%CHANGE
Sales/Revenue4,2975,629-23.663
Gross Profit (Loss)4441,473-69.857
Operational Profit (Loss)731,032-92.926
Net Profit (Loss) after Zakat and Tax-22542
Total Comprehensive Income-22542
Total Share Holders Equity (after Deducting Minority Equity)7,8868,042-1.939
Profit (Loss) per Share-0.051.13
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 decrease in net profit during the current quarter compared with same quarter of last year is attributable to lower Product prices this year
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed toThe main reasons for the net profit during the current quarter compared with net loss in previous quarter is due the following:1- The permanent shutdown of the Polystyrene unit, and the total depreciation of its value during the previous quarter, which impacted Petrochem net income by SR 254 million.2- Higher selling prices during the current quarter compared with previous quarter.
Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed toThe main reason 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 during the current period, which impacted Petrochem net income by SR 254 million.2- Lower Product prices during the current period compared with same period from last year.
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.