Saudi Kayan turns to SAR 452.8 mln loss in 9M 2022, incurs SAR 812.3 mln in Q3

24/10/2022 Argaam Exclusive

View other reports

Saudi Kayan Petrochemical Co. swung to a net loss after Zakat and tax of SAR 452.8 million for the first nine months of 2022, against a net profit of SAR 1.941 billion in the year-ago period.

Financials (M)

Item	9m 2021	9m 2022	Change‬
Revenues	9,091.10	9,141.04	0.5 %
Gross Income	2,789.49	415.55	(85.1 %)
Operating Income	2,283.16	(125.04)	(105.5 %)
Net Income	1,941.33	(452.77)	(123.3 %)
Average Shares	1,500.00	1,500.00	-
EPS (Riyals)	1.29	(0.30)	(123.3 %)

The nine-month losses were attributed to an increase in the average cost of feedstock and a decrease in the average selling prices of products despite higher sales.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2021	Q3 2022	Change‬
Revenues	3,434.07	2,596.32	(24.4 %)
Gross Income	983.04	(488.69)	(149.7 %)
Operating Income	788.81	(675.56)	(185.6 %)
Net Income	667.45	(812.27)	(221.7 %)
Average Shares	1,500.00	1,500.00	-
EPS (Riyals)	0.44	(0.54)	(221.7 %)

Item	Q2 2022	Q3 2022	Change‬
Revenues	3,406.82	2,596.32	(23.8 %)
Gross Income	435.45	(488.69)	(212.2 %)
Operating Income	246.20	(675.56)	(374.4 %)
Net Income	150.13	(812.27)	(641.1 %)
Average Shares	1,500.00	1,500.00	-
EPS (Riyals)	0.10	(0.54)	(641.1 %)

In Q3 2022, the petrochemical producer turned to a net loss after Zakat and tax of SAR 812.3 million, against a net profit of SAR 667.45 million in Q3 2021. Saudi Kayan was hurt by lower average product selling prices, in addition to an increase in the average feedstock costs, despite better sales volumes.

In the previous quarter, the company reported a net profit of SAR 150 million.

Shareholders’ equity, after minority interest, increased to SAR 16.331 billion as of Sept. 30, 2022, compared to SAR 15.974 billion in the year-earlier period.

View More Financial Results

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×