Yanbu National Petrochemical Co. (Yansab) reported a net profit after Zakat and tax of SAR 104.5 million for the first quarter of 2020, a 73% year-on-year (YoY) decline, the company said in a bourse statement on Monday.
The decrease in net profit was attributed to lower average selling prices for all products.
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 1,522.05 | 1,194.98 | (21.5 %) |
| Gross Income | 472.49 | 199.26 | (57.8 %) |
| Operating Income | 378.99 | 102.37 | (73.0 %) |
| Net Income | 390.64 | 104.46 | (73.3 %) |
| Average Shares | 562.50 | 562.50 | - |
| EPS (Riyals) | 0.69 | 0.19 | (73.3 %) |
| Item | Q4 2019 | Q1 2020 | Change |
|---|---|---|---|
| Revenues | 1,482.08 | 1,194.98 | (19.4 %) |
| Gross Income | 298.12 | 199.26 | (33.2 %) |
| Operating Income | 182.31 | 102.37 | (43.8 %) |
| Net Income | 170.95 | 104.46 | (38.9 %) |
| Average Shares | 562.50 | 562.50 | - |
| EPS (Riyals) | 0.30 | 0.19 | (38.9 %) |
When compared to previous quarter, net profit for Q1 fell 38.9% on lower average selling prices for most products and higher average prices of some feedstock materials.
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