Saudi Basic Industries Corp. announces its Annual Financial Results for the Period Ending on 2019-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 139.74 | 169.13 | -17.377 | ||
| Gross Profit (Loss) | 35.52 | 57.84 | -38.589 | ||
| Operational Profit (Loss) | 14.83 | 36.28 | -59.123 | ||
| Net Profit (Loss) after Zakat and Tax | 5.56 | 21.52 | -74.163 | ||
| Total Comprehensive Income | 3.64 | 22.02 | -83.469 | ||
| Total Share Holders Equity (after Deducting Minority Equity) | 168.76 | 173.08 | -2.495 | ||
| Profit (Loss) per Share | 1.85 | 7.17 | |||
| All figures are in (Billions) Saudi Arabia, Riyals | |||||
| Element List | Explanation |
|---|---|
| Increase (Decrease) in Net Profit for Current Year Compared to Last Year is Attributed to | The decrease in net income is mainly attributable to lower average selling prices in addition to the recording of impairment provisions in Ibn Rushd, in the amount of SR 2.8 billion, SABIC's share SR 1.3 billion and the investment in Clariant AG, in the amount of SR 1.5 billion |
| 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 | On January 1st 2019 SABIC has adopted IFRS 16 |
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