Saudi Aramco Total Refining and Petrochemical Co. (SATORP) widened net loss after Zakat and tax to SAR 989.7 million (SAR 1.20 per share) for the six months of 2020, compared to SAR 422.4 million in the same period last year.
The losses were attributed to the scheduled maintenance activities for the Refinery Train 2 units which reduced the overall processing capacity. The company also cited lower product margins driven by market conditions.
|
Income statement |
|||
|
Period |
H1 2019 |
H1 2020 |
Change (%) |
|
Revenue (SAR mln) |
20308.8 |
10547.6 |
(%48) |
|
Net profit (SAR mln) |
(422.4) |
(989.7) |
(%134 |
|
Number of shares (mln) |
825.0 |
825.0 |
-- |
|
Earnings per share (SAR/share) |
(0.51) |
(1.20) |
%134 |
In Q2 2020, net losses narrowed by 27.5% YoY to SAR 343.9 million due to the refinery operating at full capacity.
|
SATORP net income since 2018 |
||
|
Period |
Net income (SAR mln) |
Earnings per share (SAR) |
|
2018 |
||
|
Q1 |
(205.3) |
(0.25) |
|
Q2 |
457.9 |
0.56 |
|
Q3 |
352.1 |
0.43 |
|
Q4 |
( 157.8 ) |
( 0.19 ) |
|
2019 |
||
|
Q1 |
52.5 |
0.06 |
|
Q2 |
(474.9) |
(0.58) |
|
Q3 |
(494.0) |
(0.60) |
|
Q4 |
274.8 |
0.33 |
|
2020 |
||
|
Q1 |
(645.8) |
(0.78) |
|
Q2 |
(343.9) |
(0.42) |
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