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Methanol Chemicals Co. announces its Interim Financial results for the Period Ending on 2024-06-30 ( Six Months )

2001
CHEMANOL
-1.38 %
1446/01/26     01/08/2024 15:57:59

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 169.04189.66-10.872183.27-7.764
Gross Profit (Loss) 24.5329.68-17.35121.5313.934
Operational Profit (Loss) -19.34-3.18508.176-16.8814.573
Net profit (Loss) -28.28-10.19177.526-24.4815.522
Total Comprehensive Income -28.28-10.19177.526-24.4815.522
All figures are in (Millions) Saudi Arabia, Riyals


Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 352.31375.08-6.07
Gross Profit (Loss) 46.3632.6142.164
Operational Profit (Loss) -35.91-44.31-18.957
Net profit (Loss) -52.5-59.03-11.062
Total Comprehensive Income -52.5-59.03-11.062
Total Shareholders Equity (after Deducting Minority Equity) 988.051,040.56-5.046
Profit (Loss) per Share -0.78-0.88
All figures are in (Millions) Saudi Arabia, Riyals


Element ListAmountPercentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value --
All figures are in (Millions) Saudi Arabia, Riyals


Element ListExplanation
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is The reason for the decrease in revenue of 11% during the current quarter compared to the same quarter of the last year is mainly due to a drop in average selling prices by 8% and selling quantities by 3%.
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 reason for the increase in losses during the current quarter compared to the loss in the same quarter of last year is due to a drop in average selling prices by 8% and sales quantities by 3% even though the average raw material prices reduced by 10%.

Further, the feedstock (Natural Gas) prices increased by 40% at the beginning of the year which has contributed to the increase in losses during the current quarter as compared to the previous quarter.

The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is The reason for the decrease in revenue of 8% during the current quarter compared to the previous quarter is mainly due to a drop in average selling quantities by 13% despite an increase in average selling prices by 6%.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is The reason for the increase in losses during the current quarter compared to the previous quarter is mainly due to the drop in selling quantities of 13% despite an increase in the average selling prices by 6%.
The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is The reason for the decrease in revenue by 6% during the current period compared to the same period of the last year is mainly due to a drop in average selling prices by 19% even though the quantities have increased by 16%.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is The reason for the decrease in losses of 6% during the current period compared to the same period of the last year is mainly due to an increase in sales quantities by 16% and a drop in average raw material prices by 21% even though feedstock (Natural Gas) price increased by 40% at the beginning of the year.
Statement of the type of external auditor's report Unmodified conclusion
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) N/A
Reclassification of Comparison Items N/A
Additional Information The Company presented its first condensed consolidated interim financial statements from Q1 2024 onwards.

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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Last Price 12.86
Net Change -0.18 (-1.38%)
Value Traded (Sar) 1,457,916.44
Volume Traded 112,768
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