| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 681 | 749.67 | -9.16 | 647.97 | 5.097 |
| Total Profit (Loss) | 246 | 277.14 | -11.236 | 193.91 | 26.862 |
| Profit (Loss) Operational | 207 | 246.61 | -16.061 | 151.74 | 36.417 |
| Net Profit (Loss) after Zakat and Tax | 192 | 253.34 | -24.212 | 161.88 | 18.606 |
| Total Comprehensive Income | 150 | 318.44 | -52.895 | 268.98 | -44.233 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 1,329 | 1,253.49 | 6.023 |
| Total Profit (Loss) | 440 | 396.28 | 11.032 |
| Profit (Loss) Operational | 359 | 341.31 | 5.182 |
| Net Profit (Loss) after Zakat and Tax | 354 | 350.89 | 0.886 |
| Total Comprehensive Income | 419 | 558.18 | -24.934 |
| Total Share Holders Equity (after deducting minority equity) | 3,230 | 3,258.35 | -0.87 |
| Profit (Loss) per Share | 1.799 | 1.783 | |
| 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 reduced by 24.2% compared to Q2 2018 mainly due to reduction in sales volume by 2.8%, decrease in Polypropylene prices by 6.5%, increased consumption of outsourced Propylene by 8.3% and decrease in share in profit on investment in SK Advanced Co. Ltd. (associated company in South Korea) despite the decrease in Propane and outsourced Propylene prices (5.6% and 17.6% respectively) |
| Reason for increase (decrease) in net profit for current quarter compared to the previous quarter | Net profit is increased by 18.6% compared to Q1 2019 mainly due to increase in Polypropylene prices by 5.1% and decrease in outsourced propylene costs by 23.6% (reduction in prices and consumption by 2.8% and 21.4% respectively) and reduction in fixed production costs by 30% despite the increase in propane costs by 18.8% (increase in prices and consumption by 7.7% and 10.3% respectively) and reduction in share in profit on investment in SK Advanced Co. Ltd. |
| Reason for increase (decrease) in net profit for current period compared to the similar period of the previous year | Net Profit is slightly improved by 0.9% due to increase in sales volume by 14.4% and reduction in Propane and outsourced Propylene prices by 12.7% and 16.2% respectively despite the decrease in Polypropylene prices by 7.3%, increase in consumption of Propane and outsourced Propylene by 5.0% and 24.7% respectively, increase in fixed production costs and general and adminstrative costs by 30% and 28% respectively and reduction in share in 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 June 30, 2019 are prepared by the management of the Company and these results are not reviewed by the external auditors. |
| Additional Information | Q2 2019 Net profit also includes SR 3.1 million share of profit on investment in SK Advanced Co. Ltd. in South Korea compared to SR 23.6 million for same quarter last year and SR 20.7 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.
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