Saudi Arabian Oil Co. (Saudi Aramco) reported an over twofold rise in net profit attributable to shareholders to SAR 278.6 billion for the first nine months of 2021, compared to SAR 133.2 billion in the year-earlier period.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 618,293.00 | 1,055,489.00 | 70.7 % |
| Gross Income | 361,936.00 | 648,845.00 | 79.3 % |
| Operating Income | 278,870.00 | 543,808.00 | 95.0 % |
| Net Income | 133,180.00 | 278,564.00 | 109.2 % |
| Average Shares | 242,000.00 | 242,000.00 | - |
| EPS (Riyals) | 0.55 | 1.15 | 109.2 % |
The profit surge was fueled by higher crude oil prices, improved margins from refining and chemicals and the consolidation of SABIC’s results.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 228,594.00 | 405,382.00 | 77.3 % |
| Gross Income | 129,379.00 | 248,234.00 | 91.9 % |
| Operating Income | 96,046.00 | 212,806.00 | 121.6 % |
| Net Income | 44,278.00 | 109,072.00 | 146.3 % |
| Average Shares | 242,000.00 | 242,000.00 | - |
| EPS (Riyals) | 0.18 | 0.45 | 146.3 % |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 349,950.00 | 405,382.00 | 15.8 % |
| Gross Income | 215,179.00 | 248,234.00 | 15.4 % |
| Operating Income | 179,115.00 | 212,806.00 | 18.8 % |
| Net Income | 90,902.00 | 109,072.00 | 20.0 % |
| Average Shares | 242,000.00 | 242,000.00 | - |
| EPS (Riyals) | 0.38 | 0.45 | 20.0 % |
In Q3 2021, net profit after Zakat and tax soared 158% to SAR 109.1 billion from SAR 44.2 billion a year earlier. The profit rise was spurred by higher crude oil prices and sales volumes, along with stronger profit margins from refining and chemicals.
When compared to the previous quarter, Q3 net profit climber 19.5% from SAR 95.5 billion.
Shareholders’ equity, after minority interest, grew by 6.3% to SAR 1.068 trillion as of Sept. 30, 2021, compared to SAR 1.004 trillion a year earlier.
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