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Saudi Basic Industries Corp. announces its Interim Financial Results for the Period Ending on 2021-09-30 ( Nine Months )

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 43.729.349.14642.423.017
Gross Profit (Loss) 12.486.5291.41113.79-9.499
Operational Profit (Loss) 7.72.1266.66610.06-23.459
Net Profit (Loss) after Zakat and Tax 5.591.09412.8447.64-26.832
Total Comprehensive Income 4.652.23108.527.65-39.215
All figures are in (Billions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 123.6584.1147.009
Gross Profit (Loss) 37.3914.7154.353
Operational Profit (Loss) 24.690.783,065.384
Net Profit (Loss) after Zakat and Tax 18.1-2.18-
Total Comprehensive Income 17.08-2.59-
Total Share Holders Equity (after Deducting Minority Equity) 173.99165.035.429
Profit (Loss) per Share 6.03-0.73
All figures are in (Billions) Saudi Arabia, Riyals
Element ListExplanation
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 net income is mainly attributable to higher average selling prices.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is The decrease in net income is mainly attributable to higher cost of sales as a result of increase in feedstock prices and decrease in sales volume.
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 increase in net income is mainly attributable to higher average selling prices and increase in the share of results of joint ventures and associates. Noting that during the same period last year, there were impairment provisions in certain capital and financial assets, net of SR 1.55 billion.
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 - On January 1st 2021, SABIC has early adopted the amendment to IAS 16 ‘Property, Plant and Equipment: Proceeds before Intended Use’.

- Attached 3Q 2021 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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