The Saudi Arabian Oil Co. (Saudi Aramco) posted a 21% year-on-year (YoY) drop in net profit after Zakat and tax to SAR 330.7 billion for fiscal year 2019.
The decrease was primarily due to lower crude oil prices and production volumes, coupled with declining refining and chemical margins, and a $1.6 billion impairment associated with Sadara Chemical Company.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 1,347,017.00 | 1,236,785.00 | (8.2 %) |
| Gross Income | 873,206.00 | 763,934.00 | (12.5 %) |
| Operating Income | 798,405.00 | 674,871.00 | (15.5 %) |
| Net Income | 416,196.00 | 330,816.00 | (20.5 %) |
| Average Shares | 242,000.00 | 242,000.00 | - |
| EPS (Riyals) | 1.72 | 1.37 | (20.5 %) |
In Q4 2019, net profit dropped 29% YoY to SAR 74.9 billion.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 354,857.00 | 312,198.00 | (12.0 %) |
| Gross Income | 216,943.00 | 188,077.00 | (13.3 %) |
| Operating Income | 201,490.00 | 161,798.00 | (19.7 %) |
| Net Income | 104,460.00 | 75,011.00 | (28.2 %) |
| Average Shares | 242,000.00 | 242,000.00 | - |
| EPS (Riyals) | 0.43 | 0.31 | (28.2 %) |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 304,646.00 | 312,198.00 | 2.5 % |
| Gross Income | 185,810.00 | 188,077.00 | 1.2 % |
| Operating Income | 165,196.00 | 161,798.00 | (2.1 %) |
| Net Income | 79,788.00 | 75,011.00 | (6.0 %) |
| Average Shares | 242,000.00 | 242,000.00 | - |
| EPS (Riyals) | 0.33 | 0.31 | (6.0 %) |
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