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Saudi Basic Industries Corp. announces its Interim Financial Results for the Period Ending on 2023-03-31 ( Three Months )
2010
SABIC
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1444/10/14 04/05/2023 08:49:17
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 39.69 | 52.64 | -24.6 | 42.98 | -7.65 |
| Gross Profit (Loss) | 5.87 | 13.47 | -56.42 | 5.8 | 1.21 |
| Operational Profit (Loss) | 1.69 | 9.47 | -82.15 | 0.51 | 231.37 |
| Net Profit (Loss) after Zakat and Tax | 0.66 | 6.47 | -89.8 | 0.29 | 127.59 |
| Total Comprehensive Income | 0.93 | 7.44 | -87.5 | 1.98 | -53.03 |
| All figures are in (Billions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (after Deducting Minority Equity) | 186.98 | 187.58 | -0.32 |
| Profit (Loss) per Share | 0.22 | 2.16 | |
| All figures are in (Billions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The decrease in net income is primarily attributable to lower average selling prices and lower sales volume in addition to a decrease in results from associates and joint ventures. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is | The increase in net income is mainly attributable to improved profit margin for some key products and lower operating costs. This was partially offset by lower sales volume. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | Certain prior period figures have been re-classified to conform with the presentation in the current period. |
| Additional Information | Attached 1Q 2023 earnings release and presentation. |
| Attached Documents |  |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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