Sadara Chemical Company, the parent company of Sadara Basic Services Co., saw its net loss after Zakat and tax rise 12% year-on-year (YoY) in the first half of 2020 to SAR 2.6 billion, due to lower average selling prices of products, despite higher sales volumes.
|
Income statement |
|||
|
Period |
H1 2019 |
H1 2020 |
Change (%) |
|
Revenue (SAR mln) |
5211.7 |
4311.6 |
(17.2%) |
|
Net loss (SAR mln) |
(2392.0) |
(2682.0) |
12.1 |
|
Number of shares (mln) |
3563 |
3563 |
-- |
|
Earnings per share (SAR/share) |
(0.67) |
(0.75) |
(12%) |
The firm’s losses in Q2 widened by 24% YoY to SAR 1.4 billion on lower average selling prices of products and sales volumes.
On a quarterly basis, net loss widened by 10% in Q2, due to lower average selling prices of products and quantities sold.
|
Sadara Chemical net income since 2019 |
||
|
Period |
Net income (SAR mln) |
Earnings per share (SAR) |
|
2019 |
||
|
Q1 |
(1254.3) |
(0.35) |
|
Q2 |
(1137.7) |
(0.32) |
|
Q3 |
(1487.4) |
(0.42) |
|
Q4 |
(10606.8)* |
(2.98) |
|
2020 |
||
|
Q1 |
(1276.3) |
(0.36) |
|
Q2 |
(1405.7) |
(0.39) |
* The provision included a decrease in the value of the assets by SAR 9.2 billion.
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