Saudi Aramco Total Refining and Petrochemical Co. (SATORP) widened net loss after Zakat and tax to SAR 2.593 billion (SAR 3.14 per share) in 2020, compared to a loss of SAR 641.6 million in 2019.

 

The increase in loss was attributed to the refinery undergoing major planned maintenance activities (turnaround) on the refinery's train 2, which reduced the overall processing capacity. The firm also noted lower product margins driven by market conditions.

 

Income statement

Period

2019

2020

Change (%)

Revenue (SAR mln)

39456.6

22616.2

(%43)

Net profit (SAR mln)

(641.6)

(2593.5)

(304%)

Number of shares (mln)

825.0

825.0

--

Earnings per share (SAR/share)

(0.78)

(3.14)

(304%)

 

In Q4 2020, the firm swung to net loss of SAR 799.4 million.

 

SATORP net income since 2018

Period

Net income

(SAR mln)

Earnings per share

(SAR)

2018

Q1

(205.3)

(0.25)

Q2

457.9

0.56

Q3

352.1

0.43

Q4

( 157.8 )

( 0.19 )

2019

Q1

52.5

0.06

Q2

(474.9)

(0.58)

Q3

(494.0)

(0.60)

Q4

274.8

0.33

2020

Q1

(645.8)

(0.78)

Q2

(343.9)

(0.42)

Q3

(804.8)

(0.97)

Q4

(799.4)

(0.97)

 

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