| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) |
253.34
|
194.51
|
30.25
|
97.55
|
159.7
|
| Gross profit (loss) |
277.14
|
220.13
|
25.9
|
119.14
|
132.62
|
| Operational profit (loss) |
246.61
|
192.07
|
28.4
|
94.71
|
160.38
|
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) |
350.89
|
318.87
|
10.04 |
| Gross profit (loss) |
396.28
|
363.38
|
9.05 |
| Operational profit (loss) |
341.31
|
309.07
|
10.43 |
| Earning or loss per share, Riyals |
1.78
|
1.62
|
- |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | Net Profit for Q2 2018 compared to Q2 2017 is increased by 30.2% mainly due to: - Increase in sales quantities by 4.9%. - Increase in polypropylene prices by 18.2% despite increase in prices of feedstock (propane and outsourced propylene). |
| Reasons of increase (decrease) for period compared with same period last year | Despite the reduction in sales quantities by 4.7% due to scheduled turnaround in Q1 2018, Net Profit is increased by 10.0% mainly due to increase in polypropylene prices by 16.4% despite increase in prices of feedstock (propane and outsourced propylene). |
| Reasons of increase (decrease) for quarter compared with previous quarter | Net Profit is significantly increased by 159.7% compared to previous quarter mainly due to: - Increase in sales quantities by 42.9% due to scheduled turnaround in Q1 2018 as announced earlier. - Increase in polypropylene prices by 4.1% - Decrease in propane prices by 6.7% |
| Other notes | - Q2 2018 Net profit also includes SR 23.6 million share of profit on equity investment in SK Advanced Co. Ltd. compared to SR 10.5 million for same quarter last year and SR 10.2 million for previous quarter. - The sales revenue for the current quarter amounted to SR 749.7 million, an increase of 24.0% compared to the same quarter last year of SR 604.4 million and increase by 48.8% compared to previous quarter of SR 503.8 million. The sales revenue for the current period is SR 1,253.5 million, an increase of 10.9% compared to same period last year of SR 1,130.7 million. - The total comprehensive income for the current quarter amounted to SR 318.4 million, an increase of 629.2% compared to same quarter last year of SR 43.7 million and increase by 32.8% compared to previous quarter of SR 239.7 million. The total comprehensive income for current period amounted to SR 558.2 million, an increase of 177.4% compared to same period last year of SR 201.2 million. - The total equity (no minority interest) at June 30, 2018 is SR 3,258.4 million compared to equity of SR 2,824.4 million at June 30, 2017 with an increase of 15.4% and compared to SR 3,077.7 million at March 31, 2018 with an increase of 5.9%. - From January 1, 2018, the Company has adopted IFRS 9 and IFRS 15 with no material impact on its interim financial statements. |
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