Saudi Arabian Oil Co. (Saudi Aramco) recorded a 51% leap in profit, after minority interest, to SAR 597.2 billion in 2022, compared to SAR 395.2 billion a year earlier.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 1,501,758.00 | 2,266,373.00 | 50.9 % |
| Gross Income | 920,808.00 | 1,323,814.00 | 43.8 % |
| Operating Income | 771,918.00 | 1,144,077.00 | 48.2 % |
| Net Income | 395,203.00 | 597,215.00 | 51.1 % |
| Average Shares | 242,000.00 | 242,000.00 | - |
| EPS (Riyals) | 1.63 | 2.47 | 51.1 % |
The profit growth was spurred by higher crude oil prices and volumes sold. The company also posted stronger refining margins.
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 446,269.00 | 487,168.00 | 9.2 % |
| Gross Income | 271,963.00 | 289,767.00 | 6.5 % |
| Operating Income | 228,110.00 | 241,649.00 | 5.9 % |
| Net Income | 116,639.00 | 125,340.00 | 7.5 % |
| Average Shares | 242,000.00 | 242,000.00 | - |
| EPS (Riyals) | 0.48 | 0.52 | 7.5 % |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 613,935.00 | 487,168.00 | (20.6 %) |
| Gross Income | 343,282.00 | 289,767.00 | (15.6 %) |
| Operating Income | 300,234.00 | 241,649.00 | (19.5 %) |
| Net Income | 156,068.00 | 125,340.00 | (19.7 %) |
| Average Shares | 242,000.00 | 242,000.00 | - |
| EPS (Riyals) | 0.64 | 0.52 | (19.7 %) |
In Q4 2022, net profit, after minority interest, grew 8% to SAR 125.3 billion, from SAR 116.6 billion in the prior-year period.
The fourth-quarter net profit dropped by 19.7% from SAR 156.06 billion in Q3 2022.
Shareholders’ equity, after minority interest, rose to SAR 1.44 trillion as of Dec. 31, 2022, from SAR 1.11 trillion a year earlier.
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