Financial Results : Chemanol widens losses to SAR 28.6 mln in Q1 2020

Chemanol widens losses to SAR 28.6 mln in Q1 2020

22/06/2020 Argaam Exclusive

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Methanol Chemicals Co. (Chemanol) reported net losses after Zakat and tax of SAR 28.6 million for the first quarter of 2020, versus net losses of SAR 0.31 million in year-earlier period, driven by lower sales volumes on the regular maintenance works in January.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 154.86 120.30 (22.3 %)
Gross Income 34.99 4.23 (87.9 %)
Operating Income 11.40 (18.16) (259.3 %)
Net Income (0.31) (28.60) (9,096.1 %)
Average Shares 67.45 67.45 -
EPS (Riyals) 0.00 (0.42) (9,096.1 %)

When compared to Q4 2019, Chemanol narrowed net losses by 33.2%, due to higher sales and improved operating performance.

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