Methanol Chemicals Co. (Chemanol) widened net loss after Zakat and tax by more than six-fold year-on-year (YoY) to SAR 59.9 million for the first half of 2020, driven by lower sales revenue, lower selling prices and a decline in sales volumes.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 305.71 | 218.80 | (28.4 %) |
| Gross Income | 65.70 | 4.56 | (93.1 %) |
| Operating Income | 14.45 | (37.84) | (361.9 %) |
| Net Income | (8.92) | (59.88) | (571.0 %) |
| Average Shares | 67.45 | 67.45 | - |
| EPS (Riyals) | (0.13) | (0.89) | (571.0 %) |
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 150.85 | 98.50 | (34.7 %) |
| Gross Income | 30.71 | 0.33 | (98.9 %) |
| Operating Income | 3.05 | (19.68) | (745.8 %) |
| Net Income | (8.61) | (31.28) | (263.2 %) |
| Average Shares | 67.45 | 67.45 | - |
| EPS (Riyals) | (0.13) | (0.46) | (263.2 %) |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 120.30 | 98.50 | (18.1 %) |
| Gross Income | 4.23 | 0.33 | (92.3 %) |
| Operating Income | (18.16) | (19.68) | (8.4 %) |
| Net Income | (28.60) | (31.28) | (9.4 %) |
| Average Shares | 67.45 | 67.45 | - |
| EPS (Riyals) | (0.42) | (0.46) | (9.4 %) |
Chemanol widened net loss after Zakat and tax for the second quarter by more than three-fold
to SAR 31.3 million, due to lower prices and decreased sales volumes, on the lockdown measures in the Kingdom.
On a quarter-on-quarter basis, net loss widened by 9.4%.
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