Yansab posts 55% profit decline in FY19

23/01/2020 Argaam Exclusive

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Yanbu National Petrochemical Co. (Yansab) reported a net profit of SAR 1.09 billion for fiscal year 2019, down by 54.8% year-on-year (YoY) driven by lower selling prices.

Financials (M)

Item	2018	2019	Change‬
Revenues	7,628.47	6,064.83	(20.5 %)
Gross Income	2,865.44	1,498.27	(47.7 %)
Operating Income	2,361.54	1,096.15	(53.6 %)
Net Income	2,413.98	1,089.77	(54.9 %)
Average Shares	562.50	562.50	-
EPS (Riyals)	4.29	1.94	(54.9 %)

The Q4 2019 net profit after zakat and tax fell 26.8% YoY to SAR 170.9 million on lower selling prices, despite higher sales volume.

Compared to the previous quarter, Q4 net profit was down 19.4%.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2018	Q4 2019	Change‬
Revenues	1,619.36	1,482.08	(8.5 %)
Gross Income	348.78	298.12	(14.5 %)
Operating Income	199.58	182.31	(8.7 %)
Net Income	233.48	170.95	(26.8 %)
Average Shares	562.50	562.50	-
EPS (Riyals)	0.42	0.30	(26.8 %)

Item	Q3 2019	Q4 2019	Change‬
Revenues	1,422.74	1,482.08	4.2 %
Gross Income	296.05	298.12	0.7 %
Operating Income	205.38	182.31	(11.2 %)
Net Income	212.06	170.95	(19.4 %)
Average Shares	562.50	562.50	-
EPS (Riyals)	0.38	0.30	(19.4 %)

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