News

National Petrochemical Co. announces its Interim Financial Results for the Period Ending on 2020-12-31 ( Twelve Months )

ELEMENT LISTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR%CHANGEPREVIOUS QUARTER% CHANGE
Sales/Revenue1,6441,870-12.0851,43614.484
Gross Profit (Loss)50141022.19531559.047
Operational Profit (Loss)37225446.45619293.75
Net Profit (Loss) after Zakat and Tax25113388.721117114.529
Total Comprehensive Income230106116.98111796.581
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENT LISTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR%CHANGE
Sales/Revenue6,1137,656-20.154
Gross Profit (Loss)9451,883-49.814
Operational Profit (Loss)4461,286-65.318
Net Profit (Loss) after Zakat and Tax230674-65.875
Total Comprehensive Income208648-67.901
Total Share Holders Equity (after Deducting Minority Equity)8,1168,148-0.392
Profit (Loss) per Share0.481.41
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENT LISTEXPLANATION
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year isThe main reason for the increment in net profit during the current quarter compared with the same quarter of last year due to the following:1) Increase in the average selling prices of products.2) Decrease in the average cost of feedstock.3) Decrease in sales and distribution expenses, decrease in financial cost, decrease in zakat expenses, and decrease in general and administrative expenses.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year isThe main reason for the increment in net profit during the current quarter compared with previous quarter due to the following:1) Increase in the average selling prices of products.2) Decrease in the zakat expenses.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year isThe main reason for the decrease in net profit during the current period compared with net profit of the same period from last year due to 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, and the decrease in the other income.
Statement of the type of external auditor’s reportUnmodified conclusion
Reclassification of Comparison ItemsCertain figures of the prior year have been re-classified to conform to the current period presentation.