Sahara International Petrochemical Co. (Sipchem) reported net profit after Zakat and tax of SAR 299.5 million for the FY2019, down by 48.6% year-on-year (YoY) on lower sales revenue and decreased selling prices.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 5,035.80 | 5,439.73 | 8.0 % |
| Gross Income | 1,634.78 | 1,635.24 | 0.0 % |
| Operating Income | 1,095.78 | 906.27 | (17.3 %) |
| Net Income | 582.95 | 299.53 | (48.6 %) |
| Average Shares | 366.67 | 641.67 | 75.0 % |
| EPS (Riyals) | 1.59 | 0.47 | (70.6 %) |
Sipchem also cited lower production at polybutylene terephthalate, vinyl acetate monomer and carbon monoxide plants due to shutdowns. Further, Sipchem recorded an impairment loss of approximately SAR 454 million in 2019 financial results, related to International diol company and poly-butylene terephthalate and the tool manufacturing factory (TMF) plants.
Sipchem incurred SAR 137.1 million losses in Q4 2019, versus net profit of SAR 39.97 million in year-earlier period.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 1,052.66 | 1,506.69 | 43.1 % |
| Gross Income | 204.57 | 380.04 | 85.8 % |
| Operating Income | 73.99 | 141.44 | 91.2 % |
| Net Income | 39.92 | (137.10) | (443.4 %) |
| Average Shares | 366.67 | 641.67 | 75.0 % |
| EPS (Riyals) | 0.11 | (0.21) | (296.2 %) |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 1,402.02 | 1,506.69 | 7.5 % |
| Gross Income | 361.57 | 380.04 | 5.1 % |
| Operating Income | 176.96 | 141.44 | (20.1 %) |
| Net Income | 111.05 | (137.10) | (223.5 %) |
| Average Shares | 641.67 | 641.67 | - |
| EPS (Riyals) | 0.17 | (0.21) | (223.5 %) |
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}