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Sadara Chemical Company, the parent company of Sadara Basic Services Co., swung to net profit after Zakat and tax of SAR 1.617 billion (SAR 0.45 per share) in Q1 2021 compared to a loss of SAR 1.276 billion in Q1 2020.
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Income statement |
|||
|
Period |
Q1 2020 |
Q1 2021 |
Change (%) |
|
Revenue (SAR mln) |
2450.4 |
4417.0 |
80% |
|
Net income (SAR mln) |
(1276.3) |
1617.8 |
-- |
|
Number of shares (mln) |
3563 |
3563 |
-- |
|
Earnings per share (SAR/share) |
(0.36) |
0.45 |
-- |
The company attributed the year-on-year (YoY) improvement in earnings higher selling prices, continuous financial discipline, and the recognition of a modification gain of SAR 1.05 billion from debt reprofiling.
The company reported a net loss of SAR 24.6 million for Q4 2020.
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Sadara Chemical net income since 2019 |
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|
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) |
|
Q4 |
(24.6) |
(0.01) |
|
2021 |
||
|
Q1 |
1617.8 |
0.45 |
* The provision included a decrease in the value of the assets by SAR 9.2 billion.
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