Saudi Arabian Oil Company (Saudi Aramco) Announces its Interim Financial Results for the Period Ended 2022-06-30 (Six Months)
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 562.07 | 312.35 | 79.95 | 467 | 20.36 |
| Gross Profit (Loss) | - | - | - | - | - |
| Operational Profit (Loss) | 324.49 | 179.12 | 81.16 | 277.71 | 16.84 |
| Net Profit (Loss) after Zakat and Tax | 181.64 | 95.47 | 90.26 | 148.03 | 22.7 |
| Total Comprehensive Income | 181.94 | 93.91 | 93.74 | 160.58 | 13.3 |
| All figures are in (Billions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 1,029.07 | 584.43 | 76.08 |
| Gross Profit (Loss) | - | - | - |
| Operational Profit (Loss) | 602.19 | 331 | 81.93 |
| Net Profit (Loss) after Zakat and Tax | 329.67 | 176.91 | 86.35 |
| Total Comprehensive Income | 342.52 | 187.04 | 83.13 |
| Total Share Holders Equity (after Deducting Minority Equity) | 1,302.1 | 1,029.47 | 26.48 |
| Profit (Loss) per Share | 1.44 | 0.77 | |
| All figures are in (Billions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Net income for the second quarter of 2022 was SAR 181.64 billion ($48.44 billion), compared to SAR 95.47 billion ($25.46 billion) for the same quarter of 2021. The increase was largely attributable to higher crude oil prices and volumes sold, and higher refining margins. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is | Net income for the second quarter of 2022 was SAR 181.64 billion ($48.44 billion), compared to SAR 148.03 billion ($39.47 billion) for the first quarter of 2022. The increase was mainly driven by higher crude oil prices and volumes sold, and improved Downstream margins. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Net income for the first half of 2022 was SAR 329.67 billion ($87.91 billion), compared to SAR 176.91 billion ($47.18 billion) for the same period of 2021. The increase principally reflects the impact of higher crude oil prices and volumes sold, and improved Downstream margins. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | None |
| Additional Information | Given the nature of Saudi Aramco’s business in prospecting, exploring, drilling and extracting hydrocarbon substances (Upstream), Saudi Aramco’s consolidated statement of income does not include gross profit.
- Other income related to sales was SAR 86.31 billion for the second quarter of 2022 (Q2 2021: SAR 37.60 billion, Q1 2022: SAR 49.89 billion). As a result, revenue and other income related to sales amounted to SAR 648.37 billion for the second quarter of 2022 (Q2 2021: SAR 349.95 billion, Q1 2022: SAR 516.90 billion).
- Other income related to sales was SAR 136.20 billion for the first half of 2022 (first half 2021: SAR 65.68 billion). As a result, revenue and other income related to sales amounted to SAR 1,165.27 billion for the first half of 2022 (first half 2021: SAR 650.11 billion). |
| Attached Documents |  |
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