Saudi Kayan posts SAR 637 mln loss in FY19

23/01/2020 Argaam Exclusive

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Saudi Kayan Petrochemical Co. reported a net loss after zakat and tax of SAR 636.8 million for the fiscal year 2019, against a net profit of SAR 1.70 billion a year earlier due to lower average selling prices.

Financials (M)

Item	2018	2019	Change‬
Revenues	12,263.16	9,536.40	(22.2 %)
Gross Income	3,365.33	1,072.21	(68.1 %)
Operating Income	2,660.58	379.00	(85.8 %)
Net Income	1,702.25	(636.78)	(137.4 %)
Average Shares	1,500.00	1,500.00	-
EPS (Riyals)	1.13	(0.42)	(137.4 %)

In Q4 2019, Saudi Kayan widened net losses by 51% year-on-year (YoY) to SAR 167.4 million, also due to a decrease in the average selling prices of products.

In the previous quarter, the petrochemical producer reported net profit of SAR 1.25 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	2,635.52	2,259.67	(14.3 %)
Gross Income	273.55	229.92	(15.9 %)
Operating Income	61.53	39.70	(35.5 %)
Net Income	(110.90)	(167.41)	(51.0 %)
Average Shares	1,500.00	1,500.00	-
EPS (Riyals)	(0.07)	(0.11)	(51.0 %)

Item	Q3 2019	Q4 2019	Change‬
Revenues	2,303.21	2,259.67	(1.9 %)
Gross Income	379.59	229.92	(39.4 %)
Operating Income	201.23	39.70	(80.3 %)
Net Income	1.26	(167.41)	(13429.1 %)
Average Shares	1,500.00	1,500.00	-
EPS (Riyals)	0.00	(0.11)	(13429.1 %)

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