Yanbu National Petrochemical Co. (Yansab) reported a net profit after Zakat and tax of SAR 344.9 million for the first nine months of 2020, a slump of 63% year-on-year (YoY), due to lower average sales prices of all products, despite a decline in production inputs average cost.
Yansab is 51%-owned by Saudi Basic Industries Corporation (SABIC).
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 4,582.75 | 3,656.36 | (20.2 %) |
| Gross Income | 1,200.15 | 613.59 | (48.9 %) |
| Operating Income | 913.84 | 356.32 | (61.0 %) |
| Net Income | 918.82 | 344.92 | (62.5 %) |
| Average Shares | 562.50 | 562.50 | - |
| EPS (Riyals) | 1.63 | 0.61 | (62.5 %) |
The company’s net profit after Zakat and tax declined 8% YoY to SAR 195.6 million in Q3 2020, on lower average selling prices and higher production input average cost despite improved output and sales volumes.
On a quarter-on-quarter basis, the third-quarter net profit rose over four times, driven by higher average selling prices of all products and improved sales volumes.
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 1,422.74 | 1,440.73 | 1.3 % |
| Gross Income | 296.05 | 277.21 | (6.4 %) |
| Operating Income | 205.38 | 201.04 | (2.1 %) |
| Net Income | 212.06 | 195.63 | (7.7 %) |
| Average Shares | 562.50 | 562.50 | - |
| EPS (Riyals) | 0.38 | 0.35 | (7.7 %) |
| Item | Q2 2020 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 1,020.66 | 1,440.73 | 41.2 % |
| Gross Income | 137.12 | 277.21 | 102.2 % |
| Operating Income | 52.91 | 201.04 | 280.0 % |
| Net Income | 44.83 | 195.63 | 336.4 % |
| Average Shares | 562.50 | 562.50 | - |
| EPS (Riyals) | 0.08 | 0.35 | 336.4 % |
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