Saudi Arabia's Yanbu National Petrochemical Co. (Yansab), a subsidiary of Saudi Basic Industries Corp. (SABIC), said that 2013 output dropped 7 percent to 3.70 million tons of petrochemicals because of a technical outage at its complex.
Sales decreased to 2.15 million tons in 2013, compared to 2.27 million tons in 2012, the company said in 2013 annual report that was published today.
|
Yansab Selling Products(SAR mn) |
|||
|
Change |
2013 |
2012 |
Article |
|
-- |
187 |
186 |
Ethylene |
|
+7% |
1497 |
1395 |
PP |
|
-20% |
374 |
465 |
Benzene |
|
+3% |
3367 |
3255 |
MEG |
|
-15% |
1590 |
1860 |
LLDPE |
|
+7% |
1590 |
1488 |
HDPE |
|
+15% |
748 |
651 |
Others |
|
+5% |
9354 |
9299 |
Total |
The value of loans slid to SAR 6.8 billion in 2013 from SAR 8.1 billion the previous year. The petrochemicals maker will be paying back its loans throughout June 2019.
Cash and equivalents reached SAR 3.02 billion in 2013. Net debt stood at SAR 3.8 billion, or 25 percent of the shareholders’ equity.
Yansab’s 2013 net income advanced 8 percent to SAR 2.6 billion. The company’s board recommended distributing SAR 2 per share in dividends in the second half of 2013. It distributed SAR 1 a share in the first half of the same year.
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