Nama Chemicals widens H1 2020 net losses to SAR 11 mln

28/07/2020 Argaam Exclusive

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Nama Chemicals Co. widened net losses after Zakat and tax by over three times year-on-year (YoY) to SAR 10.7 million in H1 2020, hit by a drop in the average selling prices of end products and lower sales volumes.

Financials (M)

Item	6m 2019	6m 2020	Change‬
Revenues	282.47	224.57	(20.5 %)
Gross Income	45.24	21.06	(53.4 %)
Operating Income	8.85	(5.68)	(164.2 %)
Net Income	(3.25)	(10.66)	(228.3 %)
Average Shares	23.52	23.52	-
EPS (Riyals)	(0.14)	(0.45)	(228.3 %)

In Q2 2020, the company widened net losses after Zakat and tax to SAR 3 million, from SAR 1 million in year-earlier period. Nama was pressured by a decline in the average selling prices of end products and investment income, as well as lower sales volumes.

When compared to Q1 2020, net losses narrowed by 54.4% thanks to higher sales volumes.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2019	Q2 2020	Change‬
Revenues	134.21	104.54	(22.1 %)
Gross Income	18.62	11.49	(38.3 %)
Operating Income	2.39	0.89	(62.7 %)
Net Income	(1.03)	(3.34)	(224.3 %)
Average Shares	23.52	23.52	-
EPS (Riyals)	(0.04)	(0.14)	(224.3 %)

Item	Q1 2020	Q2 2020	Change‬
Revenues	120.02	104.54	(12.9 %)
Gross Income	9.57	11.49	20.0 %
Operating Income	(6.57)	0.89	113.6 %
Net Income	(7.33)	(3.34)	54.5 %
Average Shares	23.52	23.52	-
EPS (Riyals)	(0.31)	(0.14)	54.5 %

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