SATORP narrows 9M 2021 net loss to SAR 1.1608 bln

Logo of SATORP

Saudi Aramco Total Refining and Petrochemical Co. (SATORP) narrowed its net loss after Zakat and tax to SAR 1.1608 billion (SAR 1.41 per share) for the first nine months of 2021, from SAR 1.7941 billion in the same period a year earlier.

The company attributed the decline in net losses to higher sales margins amid the prevailing market conditions.

Income statement
Period	September 2020	September 2021	Change (%)
Revenue (SAR mln)	16528.4	28020.4	%70
Net profit (SAR mln)	(1794.1)	(1160.8)	+35%
Number of shares (mln)	825.0	825.0	--
Earnings per share (SAR/share)	(2.17)	(1.41)	+35%

The company further narrowed its net loss after Zakat and tax by 84% year-on-year (YoY) to SAR 130.1 million in Q3 2021, backed by higher sales margins.

SATORP net income since 2019
Period	Net income (SAR mln)	Earnings per share (SAR)
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	(804.4)	(0.97)
Q4	(799.4)	(0.97)
2021
Q1	(620.9)	(0.75)
Q2	(409.8)	(0.50)
Q3	(130.1)	(0.16)

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