Saudi Arabian Oil Co.'s (Saudi Aramco) net profit rose to SAR 169.5 billion for the first half of 2021, compared to SAR 88.9 billion in the year-earlier period.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Revenues | 389,699.00 | 650,107.00 | 66.8 % |
| Gross Income | 232,557.00 | 400,611.00 | 72.3 % |
| Operating Income | 182,824.00 | 331,002.00 | 81.0 % |
| Net Income | 88,902.00 | 169,492.00 | 90.7 % |
| Average Shares | 242,000.00 | 242,000.00 | - |
| EPS (Riyals) | 0.37 | 0.70 | 90.7 % |
The profit rise was spurred by rising crude oil prices and strong downstream earnings – including inventory movement gains and the consolidation of SABIC’s results, partially offset by a decrease in crude oil sales volumes and higher crude production royalties.
| Item | Q2 2020 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 139,354.00 | 349,950.00 | 151.1 % |
| Gross Income | 81,121.00 | 215,179.00 | 165.3 % |
| Operating Income | 53,092.00 | 179,115.00 | 237.4 % |
| Net Income | 25,370.00 | 90,902.00 | 258.3 % |
| Average Shares | 242,000.00 | 242,000.00 | - |
| EPS (Riyals) | 0.10 | 0.38 | 258.3 % |
| Item | Q1 2021 | Q2 2021 | Change |
|---|---|---|---|
| Revenues | 300,157.00 | 349,950.00 | 16.6 % |
| Gross Income | 185,432.00 | 215,179.00 | 16.0 % |
| Operating Income | 151,887.00 | 179,115.00 | 17.9 % |
| Net Income | 78,590.00 | 90,902.00 | 15.7 % |
| Average Shares | 242,000.00 | 242,000.00 | - |
| EPS (Riyals) | 0.32 | 0.38 | 15.7 % |
In Q2 2021, net profit after Zakat and tax rose more than three times to SAR 95.5 million. The strong performance was primarily driven by higher crude oil prices, improved refining and chemicals margins and the consolidation of SABIC’s results.
When compared to the previous quarter, the second-quarter net profit jumped 17.2% from SAR 81.4 billion.
Shareholders’ equity, after minority interest, reached SAR 1.029 billion by the end of H1 2021, compared to SAR 1.025 billion a year earlier.
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