Saudi Chemical Co. reported a net profit after Zakat and tax of SAR 74 million for 2020, a more than twofold increase from SAR 33 million in 2019.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 2,949.17 | 3,306.16 | 12.1 % |
| Gross Income | 457.96 | 436.41 | (4.7 %) |
| Operating Income | 124.49 | 149.63 | 20.2 % |
| Net Income | 32.88 | 74.03 | 125.2 % |
| Average Shares | 843.20 | 843.20 | - |
| EPS (Riyals) | 0.04 | 0.09 | 125.2 % |
The company attributed the profit rise to performance improvement and higher sales from the pharma and explosives sector.
Reduction in expected credit loss provision and finance cost was also cited for the profit rise.
In Q4 2020, the company narrowed its net loss after Zakat and tax to SAR 23 million from SAR 50.7 million in the same period a year ago.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 595.97 | 836.51 | 40.4 % |
| Gross Income | 98.23 | 73.80 | (24.9 %) |
| Operating Income | (17.78) | (1.40) | 92.1 % |
| Net Income | (50.72) | (22.96) | 54.7 % |
| Average Shares | 843.20 | 843.20 | - |
| EPS (Riyals) | (0.06) | (0.03) | 54.7 % |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 811.35 | 836.51 | 3.1 % |
| Gross Income | 104.92 | 73.80 | (29.7 %) |
| Operating Income | 38.55 | (1.40) | (103.6 %) |
| Net Income | 18.85 | (22.96) | (221.8 %) |
| Average Shares | 843.20 | 843.20 | - |
| EPS (Riyals) | 0.02 | (0.03) | (221.8 %) |
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