Advanced turns to SAR 259.2M loss in 2024; Q4 at SAR 288M

Advanced turns to SAR 259.2M loss in 2024; Q4 at SAR 288M

27/02/2025 Argaam Exclusive

View other reports

Advanced Petrochemical Co. incurred a net loss of SAR 259.2 million in 2024, versus a net profit of SAR 171.1 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 2,373.51 2,192.64 (7.6 %)
Gross Income 451.46 288.18 (36.2 %)
Operating Income 281.53 101.45 (64.0 %)
Net Income 171.06 (259.18) (251.5 %)
Average Shares 260.00 260.00 -
Earnings Per Share before unusual items 0.66 (0.18) (127.5 %)
EPS (Riyals) 0.66 (1.00) (251.5 %)

The petrochemicals producer recognized SAR 133 million share in the losses on investment in SK Advanced, versus a loss of SAR 97 million in 2023.

 

It also noted a provision for impairment of investment in SK Advanced of SAR 212 million.

 

In addition, revenue declined along with a decrease in sales volumes due to periodic scheduled maintenance. The company also cited a 10% rise in propane prices.

 

Q4 2024 net loss reached SAR 288 million, versus a net profit of SAR 22.93 million in Q4 2023.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 570.85 579.39 1.5 %
Gross Income 102.63 19.33 (81.2 %)
Operating Income 55.25 (24.15) (143.7 %)
Net Income 22.93 (287.89) (1355.6 %)
Average Shares 260.00 260.00 -
Earnings Per Share before unusual items 0.09 (0.29) (430.6 %)
EPS (Riyals) 0.09 (1.11) (1355.6 %)

On a sequential basis, Advanced swung to losses from net earnings of SAR 45.52 million in Q3 2024.

 

Total shareholders’ equity, after minority interest, stood at SAR 2.87 billion by Dec. 31, 2024, compared to SAR 3.23 billion a year earlier.

View more financial results

 

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.