| 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 decrease in revenue in the current quarter compared to the same quarter in the previous year is mainly attributable to a 6% decrease in sales volume, that partially offset by higher sales prices by 4%. This resulted in a 4% revenue decrease in Q3-2024 compared to Q3-2023. |
| 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 increase in the net loss in the current quarter compared to the same quarter in the previous year is mainly attributable to margin compression by 6%, due to higher feedstock prices partially offset by lower interest expense. This resulted in 8% increase in net loss in Q3-2024 compared to Q3-2023. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The decrease of revenue in the current quarter compared to the previous quarter is mainly attributable to lower sales prices by 3% and lower sales volume by 2%. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The decrease in the net loss in the current quarter compared to the previous quarter is mainly attributable to lower cost of sales due to a lower volume and lower interest expense. |
| 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 increase in the revenue in the current period compared to the same period of the last year is mainly attributable to higher sales volume of 18% despite lower average sales prices of 2%. |
| 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 decrease in the net loss in the current period compared to the same period of the last year is mainly attributable to higher sales volume by 18% and lower fixed cost by 2% despite lower average sales prices by 2%. |
| 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) | NA |
| Reclassification of Comparison Items | NA |
| Additional Information | There are no significant financial details for the listed company, Sadara Basic Services Company, which was established primarily for the purpose of issuing the Sukuk. Sadara Basic Services Company will not incur any liabilities or undertake any significant transactions other than those relating to Sukuk issuance. Therefore, this announcement reflects the financial results of the parent company, Sadara Chemical Company. The Group has a net loss of SAR 2.8 billion for the nine-months period ended 30 September 2024, the Company’s accumulated losses exceeded 100% of its share capital as at 30 September 2024. The Group management, based on the Company’s approved business plans, believes that the Group will generate sufficient funds to meet its obligations as they become due during the 12-month period beginning from the date of approval of this condensed consolidated interim financial Statement. The business plans also include commitments from the shareholders to provide financial support to the Company. Accordingly, the condensed consolidated interim financial Statement has been prepared on a going concern basis, and the Company has complied with all legal requirements arising from the Company’s losses exceeding 50% of its share capital, including the general assembly convening on 26 February 2024 and resolving to continue the Company with the taking of the necessary measure to remedy such losses. |
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