Methanol Chemicals Co. (Chemanol) reported a net loss after Zakat of SAR 84.08 million for the fiscal year 2019 compared to a net profit of SAR 46.15 million a year earlier.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 701.61 | 527.24 | (24.9 %) |
| Gross Income | 195.57 | 59.46 | (69.6 %) |
| Operating Income | 91.92 | (36.98) | (140.2 %) |
| Net Income | 46.15 | (84.08) | (282.2 %) |
| Average Shares | 67.45 | 67.45 | - |
| EPS (Riyals) | 0.68 | (1.25) | (282.2 %) |
The losses were attributed to the worldwide decline in petrochemical products prices which negatively affected the company’s sales.
The company’s accumulated losses reached SAR 269 million or 22.32% of capital.
The company reported a net loss of SAR 42.8 million for Q4 2019 from a net profit of SAR 2.33 million in Q4 2018.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 161.51 | 108.21 | (33.0 %) |
| Gross Income | 41.08 | (10.17) | (124.8 %) |
| Operating Income | 12.61 | (30.89) | (344.9 %) |
| Net Income | 2.33 | (42.82) | (1937.9 %) |
| Average Shares | 67.45 | 67.45 | - |
| EPS (Riyals) | 0.03 | (0.63) | (1937.9 %) |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 113.32 | 108.21 | (4.5 %) |
| Gross Income | 3.93 | (10.17) | (359.0 %) |
| Operating Income | (20.54) | (30.89) | (50.4 %) |
| Net Income | (32.33) | (42.82) | (32.5 %) |
| Average Shares | 67.45 | 67.45 | - |
| EPS (Riyals) | (0.48) | (0.63) | (32.5 %) |
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