Saudi Aramco posts SAR 330.7 bln net profit in FY19

15/03/2020 Argaam Exclusive

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The Saudi Arabian Oil Co. (Saudi Aramco) posted a 21% year-on-year (YoY) drop in net profit after Zakat and tax to SAR 330.7 billion for fiscal year 2019.

The decrease was primarily due to lower crude oil prices and production volumes, coupled with declining refining and chemical margins, and a $1.6 billion impairment associated with Sadara Chemical Company.

Financials (M)

Item	2018	2019	Change‬
Revenues	1,347,017.00	1,236,785.00	(8.2 %)
Gross Income	873,206.00	763,934.00	(12.5 %)
Operating Income	798,405.00	674,871.00	(15.5 %)
Net Income	416,196.00	330,816.00	(20.5 %)
Average Shares	242,000.00	242,000.00	-
EPS (Riyals)	1.72	1.37	(20.5 %)

In Q4 2019, net profit dropped 29% YoY to SAR 74.9 billion.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	354,857.00	312,198.00	(12.0 %)
Gross Income	216,943.00	188,077.00	(13.3 %)
Operating Income	201,490.00	161,798.00	(19.7 %)
Net Income	104,460.00	75,011.00	(28.2 %)
Average Shares	242,000.00	242,000.00	-
EPS (Riyals)	0.43	0.31	(28.2 %)

Item	Q3 2019	Q4 2019	Change‬
Revenues	304,646.00	312,198.00	2.5 %
Gross Income	185,810.00	188,077.00	1.2 %
Operating Income	165,196.00	161,798.00	(2.1 %)
Net Income	79,788.00	75,011.00	(6.0 %)
Average Shares	242,000.00	242,000.00	-
EPS (Riyals)	0.33	0.31	(6.0 %)

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