Saudi Basic Industries Corp. announces its Interim Financial Results for the Period Ending on 2020-03-31 ( Three Months )

04 May 2020 08:20 AM

Default Company 2010.O 0.00% 0.00 0.00

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	30.83	37.37	-17.5	32.81	-6.034
Gross Profit (Loss)	5.72	11.29	-49.335	4.6	24.347
Operational Profit (Loss)	0.48	6.15	-92.195	-0.81	-
Net Profit (Loss) after Zakat and Tax	-0.95	3.41	-	-0.79	20.253
Total Comprehensive Income	-1.81	1.97	-	1.11	-
All figures are in (Billions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Total Share Holders Equity (after Deducting Minority Equity)	166.95	175.05	-4.627
Profit (Loss) per Share	-0.32	1.14
All figures are in (Billions) Saudi Arabia, Riyals

Element List	Explanation
Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to	The net loss in 1Q 2020 is mainly attributable to the lower average selling prices, in addition to impairments provisions in certain capital and financial assets in the amount of SAR 1.1 billion, including what had been announced on February 18, 2020 for the impairment provision in the ULTEM™ polymers plant in Cartagena, Spain by SAR 713 million
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to	The net loss in 1Q 2020 is mainly attributable to lower average selling prices in addition to impairments provisions in certain capital and financial assets in the amount of SAR 1.1 billion, including what had been announced on February 18, 2020 for the impairment provision in the ULTEM™ polymers plant in Cartagena, Spain by SAR 713 million and an increase in Zakat provision
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	Attached 1Q 2020 earnings release and presentation.
Attached Documents

First Quarter 2020 Earnings Presentation
SABIC First Quarter 2020 Earnings