Sadara Chemical Co., the parent company of Sadara Basic Services, widened its net losses after zakat and tax by 64.8 percent year-on-year (YoY) to SAR 3.87 billion for the first nine months of 2019.

 

The nine-month figures were hit by lower product prices in all segments.

 

Income statement

Period

H1 2018

H1 2019

Change (%)

Revenue (SAR mln)

10245.0

7650.8

(25%)

Net loss (SAR mln)

(2354.0)

(3879.3)

(65%)

Number of shares (mln)

3563

3563

--

Earnings per share (SAR/share)

(0.66)

(1.09)

(65%)

 

In Q3 2019, net losses after zakat and tax also widened by 24 percent YoY to SAR 1.48 billion, due to lower product prices in all segments.

 

When compared to the previous quarter, net losses widened by 30.7 percent, on lower product margin, and impact of a third-party industrial supplier issue.

 

Sadara Chemical net income since 2017

Period

Net income

(SAR mln)

Earnings per share

(SAR)

2018

Q1

(510.1)

(0.14)

Q2

(646.3)

(0.18)

Q3

(1197.7)

( 0.34)

Q4

( 1506.0 )

( 0.43 )

2019

Q1

(1254.3)

(0.35)

Q2

(1137.7)

(0.32)

Q3

(1487.4)

(0.42)

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