Yanbu National Petrochemical Co. (Yansab) reported a net profit after Zakat and tax of SAR 149.3 million for the first half of 2020, a 79% year-on-year (YoY) slump, driven by lower sales volumes, despite decreased cost of some materials.
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Revenues | 3,160.01 | 2,215.63 | (29.9 %) |
| Gross Income | 904.10 | 336.38 | (62.8 %) |
| Operating Income | 708.46 | 155.27 | (78.1 %) |
| Net Income | 706.77 | 149.29 | (78.9 %) |
| Average Shares | 562.50 | 562.50 | - |
| EPS (Riyals) | 1.26 | 0.27 | (78.9 %) |
The company’s net profit after Zakat and tax for the second quarter declined 86% YoY to SAR 44.8 million due to lower average selling prices and lower sales volumes.
On a quarter-on-quarter basis, the profit for the current quarter dropped by 57.13%, which was attributed to decreased average selling prices.
| Item | Q2 2019 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 1,637.96 | 1,020.66 | (37.7 %) |
| Gross Income | 431.61 | 137.12 | (68.2 %) |
| Operating Income | 329.47 | 52.91 | (83.9 %) |
| Net Income | 316.13 | 44.83 | (85.8 %) |
| Average Shares | 562.50 | 562.50 | - |
| EPS (Riyals) | 0.56 | 0.08 | (85.8 %) |
| Item | Q1 2020 | Q2 2020 | Change |
|---|---|---|---|
| Revenues | 1,194.98 | 1,020.66 | (14.6 %) |
| Gross Income | 199.26 | 137.12 | (31.2 %) |
| Operating Income | 102.37 | 52.91 | (48.3 %) |
| Net Income | 104.46 | 44.83 | (57.1 %) |
| Average Shares | 562.50 | 562.50 | - |
| EPS (Riyals) | 0.19 | 0.08 | (57.1 %) |
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