Saudi Arabian Oil Co. (Saudi Aramco) posted a 44% fall in net profit attributable to shareholders to SAR 184.9 billion for 2020, compared to SAR 330.8 billion a year earlier.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 1,236,785.00 | 862,091.00 | (30.3 %) |
| Gross Income | 763,934.00 | 509,368.00 | (33.3 %) |
| Operating Income | 674,871.00 | 383,360.00 | (43.2 %) |
| Net Income | 330,816.00 | 184,926.00 | (44.1 %) |
| Average Shares | 242,000.00 | 242,000.00 | - |
| EPS (Riyals) | 1.37 | 0.76 | (44.1 %) |
The decrease was attributed to lower crude prices, sales volumes, and reduced refining and chemicals margins, when compared to a net income of SAR 330.69 billion ($88.19 billion) for 2019.
The fourth-quarter net profit decreased by 31% to SAR 51.8 billion, compared to SAR 75 billion a year earlier.
Shareholders’ equity, after minority interest, declined 4.3% to SAR 990.850 billion in 2020, from SAR 1.035 trillion a year earlier.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 312,198.00 | 243,798.00 | (21.9 %) |
| Gross Income | 188,077.00 | 147,432.00 | (21.6 %) |
| Operating Income | 161,798.00 | 104,490.00 | (35.4 %) |
| Net Income | 75,011.00 | 51,746.00 | (31.0 %) |
| Average Shares | 242,000.00 | 242,000.00 | - |
| EPS (Riyals) | 0.31 | 0.21 | (31.0 %) |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 228,594.00 | 243,798.00 | 6.7 % |
| Gross Income | 129,379.00 | 147,432.00 | 14.0 % |
| Operating Income | 96,046.00 | 104,490.00 | 8.8 % |
| Net Income | 44,278.00 | 51,746.00 | 16.9 % |
| Average Shares | 242,000.00 | 242,000.00 | - |
| EPS (Riyals) | 0.18 | 0.21 | 16.9 % |
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