Sadara Chemical Company, the parent company of Sadara Basic Services Co., saw its net loss after Zakat and tax narrow to SAR 3.19 billion in the first nine months of 2020 compared to a loss of SAR 3.87 billion in the same period last year, due to higher volume of quantities sold and improvement in variable margin despite lower average selling price.
|
Income statement |
|||
|
Period |
9M 2019 |
9M 2020 |
Change (%) |
|
Revenue (SAR mln) |
7650.8 |
7120.6 |
(7%) |
|
Net loss (SAR mln) |
(3879.3) |
(3195.7) |
18% |
|
Number of shares (mln) |
3563 |
3563 |
-- |
|
Earnings per share (SAR/share) |
(1.09) |
(0.90) |
18% |
The firm’s losses in Q3 narrowed to SAR 513.7 million due to higher volume of quantities sold at a higher price.
On a quarterly basis, net loss narrowed by 63.5% in Q3.
|
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) |
|
Q3 |
(513.7) |
(0.14) |
* The provision included a decrease in the value of the assets by SAR 9.2 billion.
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