Saudi Aramco reveals solid 2018 balance sheet ahead of bond sale

02/04/2019 Argaam Special

 

Saudi Aramco made its financial information available in a prospectus for a $10 billion bond issue, revealing that its shareholders’ equity jumped 25 percent year-on-year (YoY) to 1.017 trillion by the end of 2018.

 

Cash and cash equivalents more than doubled YoY to SAR 96 million, with time deposits surging by SAR 93.1 billion YoY in the same period.

 

Other balance sheet items saw a YoY increase, except for investments in associates, as a Netherlands-based firm was converted to an affiliate.

 

The state-run oil giant was officially declared as the world’s most profitable firm in 2018, with a net income of $111 billion, Argaam reported.

 

Saudi Aramco established a Global Medium Term Note Program and started on April 1, 2019 a series of fixed income investor meetings.

 

Balance Sheet (SAR bln)

Period

2017

2018

Variation

Cash & cash equivalent

87.42

183.34

+110%

Current assets

253.2

382.7

+51%

Properties

751.1

873.8

+16%

Investment in affiliates

27.3

22.6

(17%)

Non-current assets

849.4

963.5

+13%

Total assets

1,102.6

1,346.2

+22%

Short-term loans

8.9

30.0

+237%

Current liabilities

149.1

183.7

+23%

Long-term loans

68.7

71.3

+4%

Non-current liabilities

127.2

134.0

+5%

Total liabilities

276.2

317.7

+15%

Capital

60.0

60.0

--

Shareholders’ equity

813.8

1016.8

+25%

 

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