1210 · 05/11/2024 15:42:36 · Announcement #83441 · View on Saudi Exchange

Basic Chemical Industries Co. announces its Interim Financial results for the Period Ending on 2024-09-30 ( Nine Months )

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 198.071913.701187.625.569
Gross Profit (Loss) 44.943.543.12346.49-3.42
Operational Profit (Loss) 11.9720.11-40.47718.19-34.194
Net profit (Loss) 10.029.0810.3529.792.349
Total Comprehensive Income 10.029.0810.3529.792.349
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 565.36555.91.701
Gross Profit (Loss) 134.61123.718.81
Operational Profit (Loss) 48.5249.66-2.295
Net profit (Loss) 30.1221.341.408
Total Comprehensive Income 30.1221.341.408
Total Shareholders Equity (after Deducting Minority Equity) 597.05592.350.793
Profit (Loss) per Share 0.17-0.29
All figures are in (Millions) Saudi Arabia, Riyals
Element ListAmountPercentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value --
Accumulated Losses --
All figures are in (Millions) Saudi Arabia, Riyals
Element ListExplanation
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is The reason for the increase in sales in third quarter of this year comparing to the same quarter last year is due to

1- Increase in sales of Basic Chemicals by 4.3M, despite the decrease in tonnage sold by 4%, due to significant increase in selling prices by 16%.

2- Decrease in sales of Industrial Chemicals by 9.3M resulted from a 30% drop in tonnage sold and a 6% drop in selling prices.

3- increase in sales of Toll Manufacturing and Water Treatment Chemicals by 5M mainly from a 23% rise in selling prices while maintaining the same tonnage sold.

4- Increase in sales of Polymers 2.2M.

5- increase in sales of Adhesives 5M.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 reason for the increase in net profit this year comparing to the same quarter of prior year is due to:

Increase in Revenue by 7M, accompanied by a 5.7M increase in Cost. In Addition to increase in selling, general & admin expenses by 10M (Inclusive of 5.2M impairment expense), 7.2M gains from the sale of fixed assets, 4.5M saving in finance costs, and 1.6 M increase in Zakat & Tax Expense.The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is The reason for the increase in Sales during third quarter this year comparing to prior quarter is due to:

1- Increase in sales of Basic Chemicals by 6.2M resulted from 10% increase in tonnage sold in addition to a 6% increase in selling prices.

2- Decrease in sales of Industrial Chemicals 9M caused by a 22% decrease in tonnage sold and a 24% drop in selling prices.

3- Increase in sales of Toll Manufacturing and Water Treatment 2.2M led by an 18% increase in tonnage sold despite the 6% decrease in selling prices.

4- Increase in sales of Polymers 2M due to increase in market demand.

5- Increase in sales of Adhesives 5M due to increase in market demand.The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is The reason for the increase in net profit for third quarter this year compared to prior quarter is:

Increase in Revenue by 10.4M, accompanied by a 12M increase in cost. In Addition to the increase in selling, general & admin expenses by 6M (Inclusive of 5.2M impairment expense), and 7.1M gains from the sale of fixed assets and slight decrease in finance cost.The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is The reason for the increase in Sales during the current period of this year comparing to the same period of prior year is due to:

1- Increase in sales of Basic Chemicals by 7.4M led by a 6% increase in selling prices despite the decrease of 1% in tonnage sold.

2- decrease in sales of Industrial Chemicals by 10.5M resulted from a 30% decrease in tonnage sold which was not covered by the 20% increase in selling prices 20%.

3- increase in sales of Toll Manufacturing and Water Treatment Chemicals by 9.7M caused by a 15% increase in selling prices. Tonnage sold remains same.

4- decrease in sales of Polymers 5.5M due to decrease in selling prices.

5- Increase in sales of Adhesives 8.5M due to increase in sold tonnage.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 reason for the increase in net profit for the current period comparing to the same period of prior year is due to:

Increase in Revenue by 9.4M, accompanied by a 1.4M decrease in Cost. In Addition to increase in selling, general & admin expenses by 12M (Inclusive of 5.2M impairment expense), 7.4M gains from the sale of fixed assets, 10.7M saving in finance costs, and 5.9 M increase in Zakat & Tax Expense.Statement of the type of external auditor's report Unmodified conclusionComment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) -Reclassification of Comparison Items -Additional Information 1- Sales during the third quarter of this year were 198 million, up 3.7% from 191 million in the previous quarter and 5.6% from 187.6 million in the previous quarter.

2- Sales for the current period reached 565.4M compared to 555.9M for the same period of last year with an increase of 1.7%.

3- Total comprehensive income (excluding minority interests) for the second quarter of this year reached 2.28 million compared to loss 1.1 million during the same period last year with an increase of 300% and compared to income 2.26 million during prior quarter with an Increase of 1%.

4- Shareholders' equity (excluding minority interests) for second quarter of this year end reached 597.05 million compared to 592.35 million for the prior year end, with an increase of 0.8%.

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.