Methanol Chemicals Co. (Chemanol) reported net loss after Zakat and tax of SAR 262.3 million for the first nine months of 2020, compared to SAR 41.3 million in year-earlier period, driven by higher provisions and lower prices.
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 419.03 | 351.08 | (16.2 %) |
| Gross Income | 69.63 | (4.81) | (106.9 %) |
| Operating Income | (6.09) | (71.22) | (1,069.7 %) |
| Net Income | (41.25) | (262.34) | (535.9 %) |
| Average Shares | 67.45 | 67.45 | - |
| EPS (Riyals) | (0.61) | (3.89) | (535.9 %) |
Chemanol incurred net loss after Zakat and tax of SAR 202.5 million in Q3 2020, compared to net loss of SAR 32.3 million in year-earlier period, due to SAR 157 million in an asset impairment, lower product prices on COVID-19 outbreak and higher provisions.
On a sequential basis, Q3 2020 net loss widened by more than six-fold.
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 113.32 | 132.28 | 16.7 % |
| Gross Income | 3.93 | (9.37) | (338.5 %) |
| Operating Income | (20.54) | (33.38) | (62.6 %) |
| Net Income | (32.33) | (202.45) | (526.3 %) |
| Average Shares | 67.45 | 67.45 | - |
| EPS (Riyals) | (0.48) | (3.00) | (526.3 %) |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 98.50 | 132.28 | 34.3 % |
| Gross Income | 0.33 | (9.37) | (2974.2 %) |
| Operating Income | (19.68) | (33.38) | (69.6 %) |
| Net Income | (31.28) | (202.45) | (547.2 %) |
| Average Shares | 67.45 | 67.45 | - |
| EPS (Riyals) | (0.46) | (3.00) | (547.2 %) |
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}