| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 648 | 503.82 | 28.617 | 749.79 | -13.575 |
| Total Profit (Loss) | 194 | 119.14 | 62.833 | 213.22 | -9.014 |
| Profit (Loss) Operational | 152 | 94.71 | 60.489 | 168.51 | -9.797 |
| Net Profit (Loss) after Zakat and Tax | 162 | 97.55 | 66.068 | 163.87 | -1.141 |
| Total Comprehensive Income | 269 | 239.74 | 12.204 | -8.56 | - |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (after deducting minority equity) | 3,218 | 3,077.66 | 4.559 |
| Profit (Loss) per Share | 0.823 | 0.496 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year | Net Profit is significantly increased compared to Q1 2018 mainly due to increase in sales volume by 38.9% (periodic schedule maintenance in Q1 2018) and reduction in Propane and outsourced Propylene prices (20.7% and 13.3% respectively) despite reduction in Polypropylene prices by 7.4% and increased consumption of outsourced Propylene by 41.6%. Share of profit on investment in SK Advanced Co. Ltd. also contributed in the increase in Net Profit for the current quarter. |
| Reason for increase (decrease) in net profit for current quarter compared to the previous quarter | Net profit is slightly reduced compared to Q4 2018 due to reduction in sales volume by 7.3% (shutdown for assessment of critical reliability improvements in Q1 2019), decrease in Polypropylene prices by 6.7% and increased consumption of outsourced Propylene by 20.5% despite the decrease in Propane and outsourced Propylene prices (22.5% and 8.3% respectively) and increase in share of profit on investment in SK Advanced Co. Ltd. |
| Type of the external auditor's opinion | Unmodified opinion |
| External auditor's report containing reservation | These estimated financial results for the period ended March 31, 2019 are prepared by the management of the Company and these results are not reviewed by the external auditors. |
| Additional Information | Q1 2019 Net profit also includes SR 20.7 million share of profit on investment in SK Advanced Co. Ltd. in South Korea compared to SR 10.2 million for same quarter last year and SR 7.7 million for previous quarter. |
From January 1, 2019, the Company has adopted IFRS 16 for Leases with no material impact on its interim financial statements.
It is noteworthy to highlight that the Q1 2019 Estimated Net Profit of SR 162 million is the highest first quarter Net Profit in the history of the Company.
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