Advanced Petrochemical posts 5.9% profit rise in FY19

12/01/2020 Argaam Exclusive

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Advanced Petrochemical Co. reported a net profit after Zakat and tax of SAR 759 million for fiscal year 2019, up by 5.86% year-on-year (YoY) due to a 6.2% increase in sales volume and a 26.5% decrease in prices of propane.

Financials (M)

Item	2018	2019	Change‬
Revenues	2,748.21	2,594.51	(5.6 %)
Gross Income	827.58	899.20	8.7 %
Operating Income	700.38	732.22	4.5 %
Net Income	716.96	759.31	5.9 %
Average Shares	260.00	260.00	-
EPS (Riyals)	2.76	2.92	5.9 %

The company also cited a 14.5% jump in profit share from South-Korea’s associated company, SK Advanced Co.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	749.79	618.40	(17.5 %)
Gross Income	213.22	213.67	0.2 %
Operating Income	168.51	171.22	1.6 %
Net Income	163.87	192.01	17.2 %
Average Shares	260.00	260.00	-
EPS (Riyals)	0.63	0.74	17.2 %

Item	Q3 2019	Q4 2019	Change‬
Revenues	647.18	618.40	(4.4 %)
Gross Income	245.26	213.67	(12.9 %)
Operating Income	201.94	171.22	(15.2 %)
Net Income	213.12	192.01	(9.9 %)
Average Shares	260.00	260.00	-
EPS (Riyals)	0.82	0.74	(9.9 %)

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