Saudi Kayan Petrochemical Co. (Saudi Kayan) swung to a net profit after Zakat and tax of SAR 1.941 billion for the first nine months of 2021, versus a net loss of SAR 943.1 million in the prior-year period, driven by higher average selling prices and lower cost of financing, despite an increase in cost of feedstock and a decrease in quantities sold.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 5,530.38 | 9,091.10 | 64.4 % |
| Gross Income | (55.00) | 2,789.49 | 5172.0 % |
| Operating Income | (486.62) | 2,283.16 | 569.2 % |
| Net Income | (943.14) | 1,941.33 | 305.8 % |
| Average Shares | 1,500.00 | 1,500.00 | - |
| EPS (Riyals) | (0.63) | 1.29 | 305.8 % |
Q3 2021 net profit after Zakat and tax stood at SAR 667.5 million, versus a net loss after Zakat and tax of SAR 28.16 million in the year-earlier period, due to higher average selling prices and lower cost of financing.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 2,105.54 | 3,434.07 | 63.1 % |
| Gross Income | 236.53 | 983.04 | 315.6 % |
| Operating Income | 79.72 | 788.81 | 889.4 % |
| Net Income | (28.16) | 667.45 | 2470.1 % |
| Average Shares | 1,500.00 | 1,500.00 | - |
| EPS (Riyals) | (0.02) | 0.44 | 2470.1 % |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 2,973.71 | 3,434.07 | 15.5 % |
| Gross Income | 1,048.75 | 983.04 | (6.3 %) |
| Operating Income | 901.23 | 788.81 | (12.5 %) |
| Net Income | 781.00 | 667.45 | (14.5 %) |
| Average Shares | 1,500.00 | 1,500.00 | - |
| EPS (Riyals) | 0.52 | 0.44 | (14.5 %) |
On a sequential basis, Q3 net profit dropped 14.5% from SAR 781 million.
The company’s accumulated losses were recovered, with retained earnings amounting to SAR 458.24 million.
Total shareholders equity, after minority interest, for the first nine months of 2021 rose 14.56% year-on-year (YoY) to SAR 15.97 billion.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}