Methanol Chemicals Co. (Chemanol) widened net loss after Zakat and tax to SAR 276.1 million for 2020, compared to SAR 84.1 million a year earlier.
These losses were driven by lower product prices, impacted by the lockdown measures in the Kingdom. The company also cited an asset impairment of SAR 157 million and higher provisions.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 527.24 | 495.71 | (6.0 %) |
| Gross Income | 59.46 | 17.93 | (69.9 %) |
| Operating Income | (36.98) | (74.01) | (100.1 %) |
| Net Income | (84.08) | (276.09) | (228.4 %) |
| Average Shares | 67.45 | 67.45 | - |
| EPS (Riyals) | (1.25) | (4.09) | (228.4 %) |
The company’s Q4 2020 net loss after Zakat and tax narrowed to SAR 13.6 million.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 108.21 | 144.63 | 33.7 % |
| Gross Income | (10.17) | 22.74 | 323.5 % |
| Operating Income | (30.89) | (2.79) | 91.0 % |
| Net Income | (42.82) | (13.76) | 67.9 % |
| Average Shares | 67.45 | 67.45 | - |
| EPS (Riyals) | (0.63) | (0.20) | 67.9 % |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 132.28 | 144.63 | 9.3 % |
| Gross Income | (9.37) | 22.74 | 342.7 % |
| Operating Income | (33.38) | (2.79) | 91.6 % |
| Net Income | (202.45) | (13.76) | 93.2 % |
| Average Shares | 67.45 | 67.45 | - |
| EPS (Riyals) | (3.00) | (0.20) | 93.2 % |
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