Financial Results : SABIC AN profit dips 66% to SAR 2.68 bln in 9M 2023; Q3 at SAR 1.04 bln

SABIC AN profit dips 66% to SAR 2.68 bln in 9M 2023; Q3 at SAR 1.04 bln

30/10/2023 Argaam Exclusive

View other reports

SABIC Agri-Nutrients Co.’s (SABIC AN) net profit plunged 66% to SAR 2.68 billion in the first nine months of 2023, from SAR 7.86 billion a year earlier.



Financials (M)

Item 9m 2022 9m 2023 Change‬
Revenues 14,774.36 8,061.40 (45.4 %)
Gross Income 8,795.07 3,294.68 (62.5 %)
Operating Income 8,149.85 2,636.45 (67.7 %)
Net Income 7,868.49 2,681.09 (65.9 %)
Average Shares 476.04 476.04 -
Earnings Per Share before unusual items (Riyals) 16.53 5.63 (65.9 %)
EPS (Riyal) 16.53 5.63 (65.9 %)

The lower profit was attributed to a drop of 46% year-on-year (YoY) in average product selling prices.



Current Quarter Comparison (M)

Compared With The
Item Q3 2022 Q3 2023 Change‬
Revenues 4,417.17 2,672.29 (39.5 %)
Gross Income 2,662.27 1,225.68 (54.0 %)
Operating Income 2,417.70 1,002.04 (58.6 %)
Net Income 2,330.71 1,049.48 (55.0 %)
Average Shares 476.04 476.04 -
Earnings Per Share before unusual items (Riyal) 4.90 2.20 (55.0 %)
EPS (Riyal) 4.90 2.20 (55.0 %)

The third-quarter net profit slumped 55% to SAR 1.04 billion from SAR 2.33 billion in the prior-year period. The average product selling prices fell by 43% YoY.

 

SABIC AN’s net profit rose by 61.1% from SAR 651 million in Q2 2023, as average selling prices increased by 5% on a sequential basis.

 

Total shareholders’ equity, excluding minority interest, decreased to SAR 17.54 billion as of Sept. 30, 2023, from SAR 19.89 billion in the earlier-year 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.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

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

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
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.