Arabian Aramco Total Services Company announces the interim financial results for the period ending on 30-09-2017 (Nine Months)

09 November 2017 08:27 AM

Element	Current quarter	Similar quarter for previous year	% Change current	Previous quarter	% Change previous
Net profit (loss)	193,281	-52,111	-	93,736	106.2
Gross profit (loss)	812,900	342,923	137.05	524,280	55.05
Operational profit (loss)	710,799	266,671	166.55	446,309	59.26
All figures are in (Thousands) Saudi Arabia, Riyals

Element	Current period	Similar period for previous year	% Change
Net profit (loss)	708,713	1,062,909	-33.32
Gross profit (loss)	1,979,364	2,209,569	-10.42
Operational profit (loss)	1,748,186	1,973,164	-11.4
Earning or loss per share, Riyals	0.85	1.28	-
All figures are in (Thousands) Saudi Arabia, Riyals

Element	EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year	The increase in net profit is due to higher sales margins caused by prevailing market conditions.
Reasons of increase (decrease) for period compared with same period last year	The decrease in net profit is due to lower sales margins for the first half of 2017 as well as higher financial costs for the same period.
Reasons of increase (decrease) for quarter compared with previous quarter	The increase in net profit is due to higher sales margins caused by prevailing market conditions.
Other notes	The sales revenue for the current quarter is SAR 8,522 million as compared to SAR 6,504 million generated during the same quarter of last year, which represents an increase of 31%. The total sales for the current period SAR 24,052 million, compared with the same period last year SAR 19,178 million, an increase of SAR 4,874 million representing an increase of 25.41%. The Comprehensive income for the current quarter is SAR 151 million as compared to comprehensive loss of SAR 52 million for the same quarter of last year representing an increase of 390%, and compared to comprehensive income of SAR 49 million for the previous quarter an increase of 208%. The total comprehensive income for the current period SAR 713 million, compared with the same period last year SAR 1,063 million, a decrease of SAR 350 million representing 32.92%. The total shareholder equity as of Q3 2017 is SAR 9,243 million (no minority rights) compared to previous period SAR 8,664 million in Q3 2016 representing an increase of 6.68%. Since there is no detailed substantial data for AATSC as it has been established for the purpose of issuing SATORP's Sukuk only. And will not incur any substantial liabilities or operations other than relevant Sukuk. The Company started its commercial operation in June 2014. Also, the Earning (loss) per share had been calculated based on weighted average number of shares outstanding. The Number of Shares is 825,000,000 for Q3 2017 and Q3 2016.

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