Saudi Basic Industries Corp. announces its Interim Financial Results for the Period Ending on 2020-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 30.83 | 37.37 | -17.5 | 32.81 | -6.034 |
| Gross Profit (Loss) | 5.72 | 11.29 | -49.335 | 4.6 | 24.347 |
| Operational Profit (Loss) | 0.48 | 6.15 | -92.195 | -0.81 | - |
| Net Profit (Loss) after Zakat and Tax | -0.95 | 3.41 | - | -0.79 | 20.253 |
| Total Comprehensive Income | -1.81 | 1.97 | - | 1.11 | - |
| All figures are in (Billions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (after Deducting Minority Equity) | 166.95 | 175.05 | -4.627 |
| Profit (Loss) per Share | -0.32 | 1.14 | |
| All figures are in (Billions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to | The net loss in 1Q 2020 is mainly attributable to the lower average selling prices, in addition to impairments provisions in certain capital and financial assets in the amount of SAR 1.1 billion, including what had been announced on February 18, 2020 for the impairment provision in the ULTEM™ polymers plant in Cartagena, Spain by SAR 713 million |
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to | The net loss in 1Q 2020 is mainly attributable to lower average selling prices in addition to impairments provisions in certain capital and financial assets in the amount of SAR 1.1 billion, including what had been announced on February 18, 2020 for the impairment provision in the ULTEM™ polymers plant in Cartagena, Spain by SAR 713 million and an increase in Zakat provision |
| Basis of the External Auditor's Opinion | Unmodified opinion |
| Reclassification of Comparison Items | Certain prior period figures have been re-classified to confirm with the presentation in the current period. |
| Additional Information | Attached 1Q 2020 earnings release and presentation. |
| Attached Documents |  |
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