Yansab 2020 net profit declines 38% to SAR 677.6 mln

20/01/2021 Argaam Exclusive

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Yanbu National Petrochemical Co. (Yansab) reported an annual net profit after Zakat and tax of SAR 677.6 million for 2020, down 38% year-on-year (YoY), due to lower average selling prices.

Financials (M)

Item	2019	2020	Change‬
Revenues	6,064.83	5,034.94	(17.0 %)
Gross Income	1,498.27	1,088.72	(27.3 %)
Operating Income	1,096.15	727.60	(33.6 %)
Net Income	1,089.77	677.57	(37.8 %)
Average Shares	562.50	562.50	-
EPS (Riyals)	1.94	1.20	(37.8 %)

The petrochemicals producer reported profit hike of 95% YoY to SAR 332.7 million in Q4 2020, driven by higher average selling prices, despite lower production and sold volumes.

On a sequential basis, Q4 2020 net profit increased by 70.09%.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	1,482.08	1,378.58	(7.0 %)
Gross Income	298.12	475.13	59.4 %
Operating Income	182.31	371.28	103.7 %
Net Income	170.95	332.65	94.6 %
Average Shares	562.50	562.50	-
EPS (Riyals)	0.30	0.59	94.6 %

Item	Q3 2020	Q4 2020	Change‬
Revenues	1,440.73	1,378.58	(4.3 %)
Gross Income	277.21	475.13	71.4 %
Operating Income	201.04	371.28	84.7 %
Net Income	195.63	332.65	70.0 %
Average Shares	562.50	562.50	-
EPS (Riyals)	0.35	0.59	70.0 %

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