Financial Results : Chemanol widens losses to SAR 276.1 mln for 2020

Chemanol widens losses to SAR 276.1 mln for 2020

25/03/2021 Argaam Exclusive

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Methanol Chemicals Co. (Chemanol) widened net loss after Zakat and tax to SAR 276.1 million for 2020, compared to SAR 84.1 million a year earlier.

 

These losses were driven by lower product prices, impacted by the lockdown measures in the Kingdom. The company also cited an asset impairment of SAR 157 million and higher provisions.



Financials (M)

Item 2019 2020 Change‬
Revenues 527.24 495.71 (6.0 %)
Gross Income 59.46 17.93 (69.9 %)
Operating Income (36.98) (74.01) (100.1 %)
Net Income (84.08) (276.09) (228.4 %)
Average Shares 67.45 67.45 -
EPS (Riyals) (1.25) (4.09) (228.4 %)

The company’s Q4 2020 net loss after Zakat and tax narrowed to SAR 13.6 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 108.21 144.63 33.7 %
Gross Income (10.17) 22.74 323.5 %
Operating Income (30.89) (2.79) 91.0 %
Net Income (42.82) (13.76) 67.9 %
Average Shares 67.45 67.45 -
EPS (Riyals) (0.63) (0.20) 67.9 %

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