Logo of Sadara Chemical Co.
Sadara Chemical Co., the parent company of Sadara Basic Services Co., reported a 97% slump in Q1 2022 net profit after Zakat and tax to SAR 45.9 million, compared to SAR 1.617 billion in the year-ago period.
The company attributed the profit drop primarily to the recognition of SAR 1.05 billion gains from debt restructuring in Q1 2021. Sadara also cited a decline in higher production costs due to higher feedstock prices despite a rise in average sales price compared to the first quarter last year.
Compared to the previous quarter, the company attributed a decrease in net profit to higher production costs and feedstock prices.
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Sadara Chemical Net Profit Since 2020 |
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Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
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2020 |
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|
Q1 |
2450.4 |
(1276.3) |
|
Q2 |
1861.2 |
(1405.7) |
|
Q3 |
2809.0 |
(513.7) |
|
Q4 |
3382.8 |
(24.6) |
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2021 |
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|
Q1 |
4417.0 |
1617.8 |
|
Q2 |
3889.4 |
606.3 |
|
Q3 |
4690.2 |
684.3 |
|
Q4 |
4620.8 |
197.2 |
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2022 |
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|
Q1 |
3903.9 |
45.9 |
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