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Saudi Kayan Petrochemical Co. announces the interim financial results for the period ending on 31-12-2017 (Twelve Months)

Element Current quarter Similar quarter for previous year % Change current Previous quarter % Change previous
Net profit (loss) -220.32 91.57 - 381.03 -
Gross profit (loss) 188.73 531.95 -64.52 813.65 -76.8
Operational profit (loss) 11.6 350.46 -96.69 624.01 -98.14
All figures are in (Millions) Saudi Arabia, Riyals
Element Current period Similar period for previous year % Change
Net profit (loss) 668.17 152.05 339.44
Gross profit (loss) 2,401 1,805.31 33
Operational profit (loss) 1,630.11 1,059.19 53.9
Earning or loss per share, Riyals 0.45 0.1 -
All figures are in (Millions) Saudi Arabia, Riyals
Element EXPLAINATION
Reasons of increase (decrease) for quarter compared with same quarter last year The reason for net loss is due to the decrease in the quantities produced and sold caused by scheduled turnaround activities for most of the companys plants, which has been announced earlier. In addition, the average feedstock prices have increased during the current quarter.
Reasons of increase (decrease) for period compared with same period last year The reason for increase in net profit is due to increase in average selling prices of products and improvement in operating performance despite of increase in the average feedstock prices, Zakat provision and financial charges.
Reasons of increase (decrease) for quarter compared with previous quarter The reason for net loss is due to the decrease in the quantities produced and sold caused by scheduled turnaround activities for most of the companys plants, which has been announced earlier. In addition, the average feedstock prices have increased during the current quarter.
Other notes - Sales revenues for the quarter ended 31 December 2017 amounted to SR 2,305 million, decrease of 5.84% compared to sales revenues for the same quarter of the previous year amounting to SR 2,448 million. - Sales revenues for the period ended 31 December 2017 amounted to SR 9,984 million, increase of 15.97% Compared to sales revenues of SR 8,609 million for the same period last year. - Total shareholders 'equity (no minority interest) as of 31 December 2017 amounted to SR 13.908 million, increase of 4.96% compared to shareholders' equity for the same period last year amounted to SR 13,251 million. - Total comprehensive loss for the quarter ended 31 December 2017 amounted to SR 221 million, decrease of 237% compared to total comprehensive income for the same quarter of the previous year amounting to SR 161 million, Compared to the previous quarter of SR 371 million, decrease of 160%. - Total comprehensive income for the period ended 31 December 2017 amounted to SR 657 million, increase of 299% compared to total comprehensive income of SR 165 million for the same period last year. - The accumulated losses as of 31 December 2017 amounted to SR 1,762 million which represents 12% of the share capital, decrease of 27% compared to the accumulated losses of the for the same period of the previous year amounting to SR 2,418 million.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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