Saudi Chemical Co. reported a net profit after Zakat and tax of SAR 32.9 million for the fiscal year 2019, a slump of 71% year-on-year (YoY).
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 2,948.53 | 2,949.17 | 0.0 % |
| Gross Income | 410.44 | 457.96 | 11.6 % |
| Operating Income | 183.94 | 124.49 | (32.3 %) |
| Net Income | 114.82 | 32.88 | (71.4 %) |
| Average Shares | 843.20 | 843.20 | - |
| EPS (Riyals) | 0.14 | 0.04 | (71.4 %) |
The drop came as the civil explosives producer suspended the capitalization of two production lines costs at its subsidiary, AJA Pharmaceutical Industries Co. Ltd.
In addition, the increase in financing costs resulting from obtaining additional bank facilities, higher selling, general and administrative expenses, as well as provisions for doubtful debts and zakat also weighed on the annual figures.
In Q4 2019, the company incurred a net loss of SAR 50.7 million, against a net profit of SAR 17 million in year-earlier period.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 872.77 | 595.97 | (31.7 %) |
| Gross Income | 111.15 | 98.23 | (11.6 %) |
| Operating Income | 45.84 | (17.78) | (138.8 %) |
| Net Income | 17.08 | (50.72) | (397.0 %) |
| Average Shares | 843.20 | 843.20 | - |
| EPS (Riyals) | 0.02 | (0.06) | (397.0 %) |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 737.05 | 595.97 | (19.1 %) |
| Gross Income | 113.62 | 98.23 | (13.5 %) |
| Operating Income | 35.53 | (17.78) | (150.0 %) |
| Net Income | 13.40 | (50.72) | (478.4 %) |
| Average Shares | 843.20 | 843.20 | - |
| EPS (Riyals) | 0.02 | (0.06) | (478.4 %) |
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