Financial Results : Yansab’s net profit down 73% in Q1 2020

Yansab’s net profit down 73% in Q1 2020

20/04/2020 Argaam Exclusive

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Yanbu National Petrochemical Co. (Yansab) reported a net profit after Zakat and tax of SAR 104.5 million for the first quarter of 2020, a 73% year-on-year (YoY) decline, the company said in a bourse statement on Monday.

 

The decrease in net profit was attributed to lower average selling prices for all products.



Current Quarter Comparison (M)

Compared With The
Item Q1 2019 Q1 2020 Change‬
Revenues 1,522.05 1,194.98 (21.5 %)
Gross Income 472.49 199.26 (57.8 %)
Operating Income 378.99 102.37 (73.0 %)
Net Income 390.64 104.46 (73.3 %)
Average Shares 562.50 562.50 -
EPS (Riyals) 0.69 0.19 (73.3 %)

When compared to previous quarter, net profit for Q1 fell 38.9% on lower average selling prices for most products and higher average prices of some feedstock materials.

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