Logo of Sadara Chemical Co.
Sadara Chemical Co., the parent company of Sadara Basic Services Co., turned to a net profit after Zakat and tax to SAR 2.9084 billion (SAR 0.78/share) in the first nine months of 2021, from a net loss of SAR 3.1957 billion in the same period a year ago.
The company attributed the profit to higher selling prices, continuous financial discipline, and the recognition of a modification gain of SAR 1.05 billion from debt re-profiling.
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Income statement |
|||
|
Period |
Sept. 2020 |
Sept. 2021 |
Change (%) |
|
Revenue (SAR mln) |
7120.6 |
12996.5 |
+83% |
|
Total Income (SAR mln) |
(1029.3) |
3954.6 |
-- |
|
Operating Income (SAR mln) |
(1376.2) |
4726.3 |
-- |
|
Net Income (SAR mln) |
(3195.7) |
2908.4 |
-- |
|
Earnings per share (SAR/share) |
(0.93) |
0.78 |
-- |
The company turned to a net profit after Zakat and tax of SAR 684,349 in Q3 2021 from a net loss of SAR 513,705 on higher selling prices and continuous financial discipline.
On a quarterly basis, Q3 net profit rose 12.8% on higher sales volumes.
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Sadara Chemical net income since 2020 |
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|
Period |
Revenue (SAR mln) |
Net Income (SAR mln) |
|
2020 |
||
|
Q1 |
24500.4 |
(1276.3) |
|
Q2 |
1861.2 |
(1405.7) |
|
Q3 |
2809.0 |
(513.7) |
|
Q4 |
3382.8 |
(24.6) |
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2021 |
||
|
Q1 |
4417.0 |
1617.8 |
|
Q2 |
3889.4 |
606.3 |
|
Q3 |
4690.2 |
684.3 |
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