Saudi Arabian Fertilizer Co. (SAFCO) reported a net profit after zakat and tax of SAR 1.47 billion for the fiscal year of 2019, a 15.2% year-on-year (YoY) decrease, the company said in a bourse statement on Sunday.
The drop was attributed to lower sales volumes and product prices, according to the statement.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 3,859.84 | 3,287.58 | (14.8 %) |
| Gross Income | 2,131.25 | 1,694.03 | (20.5 %) |
| Operating Income | 1,696.20 | 1,328.27 | (21.7 %) |
| Net Income | 1,738.44 | 1,473.92 | (15.2 %) |
| Average Shares | 416.67 | 416.67 | - |
| EPS (Riyals) | 4.17 | 3.54 | (15.2 %) |
The company’s net profit for Q4 2019 fell 40.5% YoY to SAR 338.26 million on lower average selling prices for its products and lower profit share from Ibn Ibn Al-Baytar Co.
On a sequential basis, Q4 2019 net profit slid by 18.3% compared to the previous quarter.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 1,090.10 | 845.58 | (22.4 %) |
| Gross Income | 689.15 | 430.94 | (37.5 %) |
| Operating Income | 578.11 | 344.08 | (40.5 %) |
| Net Income | 568.53 | 343.79 | (39.5 %) |
| Average Shares | 416.67 | 416.67 | - |
| EPS (Riyals) | 1.36 | 0.83 | (39.5 %) |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 909.71 | 845.58 | (7.1 %) |
| Gross Income | 465.08 | 430.94 | (7.3 %) |
| Operating Income | 363.66 | 344.08 | (5.4 %) |
| Net Income | 414.21 | 343.79 | (17.0 %) |
| Average Shares | 416.67 | 416.67 | - |
| EPS (Riyals) | 0.99 | 0.83 | (17.0 %) |
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