Yanbu National Petrochemical Co. announces its Interim Financial Results for the Period Ending on 2021-09-30 ( Nine Months )
October 19, 2021
Share
Yanbu National Petrochemical Co. announces its Interim Financial Results for the Period Ending on 2021-09-30 ( Nine Months )
10/20/2021
ELEMENT LIST
CURRENT QUARTER
SIMILAR QUARTER FOR PREVIOUS YEAR
%CHANGE
PREVIOUS QUARTER
% CHANGE
Sales/Revenue
1,779.6
1,440.7
23.523
1,983
-10.257
Gross Profit (Loss)
343.6
277.2
23.953
772
-55.492
Operational Profit (Loss)
215.4
201
7.164
639.8
-66.333
Net Profit (Loss) after Zakat and Tax
179.8
195.6
-8.077
596.3
-69.847
Total Comprehensive Income
167.5
178.2
-6.004
536.9
-68.802
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENT LIST
CURRENT PERIOD
SIMILAR PERIOD FOR PREVIOUS YEAR
%CHANGE
Sales/Revenue
5,485.6
3,656.4
50.027
Gross Profit (Loss)
1,647.2
613.6
168.448
Operational Profit (Loss)
1,268.7
356.3
256.076
Net Profit (Loss) after Zakat and Tax
1,196.4
344.9
246.883
Total Comprehensive Income
1,213.9
300.1
304.498
Total Share Holders Equity (after Deducting Minority Equity)
14,652.5
14,755.4
-0.697
Profit (Loss) per Share
2.13
0.61
All figures are in (Millions) 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 profit is attributable to lower production and sales quantity resulted from temporary shutdown for all Plants as announced on Tadawul's Website on 11 July 2021. In addition to higher average prices of some feedstock materials . Noting that higher average sales prices for all of the products contributed on limiting this decrease.
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 profit is attributable to lower revenue resulted from lower average sales prices for most of the products approximately by 9% with sustaining the sales quantities and the effect of the temporary shutdown for all Plants as announced on Tadawul's Website on 11 July 2021. In Addition to the increase in cost of revenue resulted from higher average prices of some feedstock materials approximately by 24%.
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 profit is attributable to higher average sales prices for all of the products, despite lower production and sales quantity, resulted from Turnaround and Shutdown for company's plants as announced on Tadawul's Website on 26 January 2021 & 11 July 2021 and higher average prices of some feedstock materials.
Statement of the type of external auditor's report
Unmodified conclusion
Reclassification of Comparison Items
Certain prior period figures have been re-classified to be aligned with the presentation in the current period
Attachments
Original document
Permalink
Disclaimer
Yanbu National Petrochemical Company SJSC published this content on 20 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 November 2021 08:58:07 UTC.
Yanbu National Petrochemicals Co SJSC is a Saudi Arabia-based joint stock company, which is engaged in the manufacture of petrochemical products. The Companyâs products include: Ethylene, Propylene, Mono Ethylene Glycol, Di Ethylene Glycol, Tri Ethylene Glycol, Polypropylene, Low Linear Density Polyethylene, High Density Polyethylene, Butene 1, Butene 2, Methyl Tertiary Butyl Ether (MTBE), Benzene and Toluene Xylene (TX). The Companyâs products are used for the textile and packaging industries, for pressure pipes, blown films and for injection molded articles, among others. Yanbu National Petrochemicals Co SJSC operates under one business segments, which is petrochemicals and sells its products to its majority shareholder. The Companyâs major shareholder is Saudi Basic Industries Corporation (SABIC).