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Sadara Chemical Company, the parent company of Sadara Basic Services Co., saw its net loss after Zakat and tax shrink to SAR 3.22 billion (SAR 0.90 per share) in 2020 compared to a loss of SAR 14.48 billion in 2019.

 

Income statement

Period

2019

2020

Change (%)

Revenue (SAR mln)

10108.4

10503.4

4%

Net loss (SAR mln)

(14486.1)

(3220.2)

78%

Number of shares (mln)

3563

3563

--

Earnings per share (SAR/share)

(4.07)

(0.90)

78%

 

The company attributed the year-on-year (YoY) decrease in net loss to lower cost of sales supported by slight increase in product prices

 

In 2019, the cost of sales included asset impairment provisions amounting to SAR 9.2 billion.

 

The company reported a net loss of SAR 24.6 million for Q4 2020. 

 

Sadara Chemical net income since 2019

Period

Net income

(SAR mln)

Earnings per share

(SAR)

2019

Q1

(1254.3)

(0.35)

Q2

(1137.7)

(0.32)

Q3

(1487.4)

(0.42)

Q4

(10606.8)*

(2.98)

2020

Q1

(1276.3)

(0.36)

Q2

(1405.7)

(0.39)

Q3

(513.7)

(0.14)

Q4

(24.6)

(0.01)

* The provision included a decrease in the value of the assets by SAR 9.2 billion.

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