Petro Rabigh widens loss to SAR 3.781 billion for 2020

17/02/2021 Argaam Exclusive

View other reports

Rabigh Refining and Petrochemical Co. (Petro Rabigh) widened net loss after Zakat and tax by more than six-fold to SAR 3.781 billion for 2020, from SAR 544 million in 2019.

The petrochemicals producer attributed these losses to the shutdown of its PRC complex due to a 60-day scheduled maintenance, in addition to the market challenges.

The company also cited the negative impact of the COVID-19 outbreak on prices, and the first year of operations at expansion project phase II.

Financials (M)

Item	2019	2020	Change‬
Revenues	34,061.98	21,870.20	(35.8 %)
Gross Income	1,717.91	(902.61)	(152.5 %)
Operating Income	351.19	(2491.45)	(809.4 %)
Net Income	(544.15)	(3781.13)	(594.9 %)
Average Shares	1,250.63	1,250.63	-
EPS (Riyals)	(0.44)	(3.02)	(594.9 %)

The company swung to a net profit after Zakat and tax of SAR 60.7 million in Q4 2020 compared to a loss of SAR 886.5 million in the same quarter last year.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	7,860.24	8,050.46	2.4 %
Gross Income	(261.02)	802.78	407.6 %
Operating Income	(650.58)	315.69	148.5 %
Net Income	(886.71)	60.61	106.8 %
Average Shares	1,250.63	1,250.63	-
EPS (Riyals)	(0.71)	0.05	106.8 %

Item	Q3 2020	Q4 2020	Change‬
Revenues	7,051.72	8,050.46	14.2 %
Gross Income	133.19	802.78	502.7 %
Operating Income	(303.97)	315.69	203.9 %
Net Income	(609.80)	60.61	109.9 %
Average Shares	1,250.63	1,250.63	-
EPS (Riyals)	(0.49)	0.05	109.9 %

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×