Yanbu National Petrochemical Co. (Yansab) reported a net profit of SAR 99.5 million for the three months ended March 31, 2024, versus a net loss of SAR 369.7 million in the year-earlier period.
| Item | Q1 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 667.01 | 1,390.51 | 108.5 % |
| Gross Income | (239.63) | 228.63 | 195.4 % |
| Operating Income | (370.72) | 105.21 | 128.4 % |
| Net Income | (369.72) | 99.52 | 126.9 % |
| Average Shares | 562.50 | 562.50 | - |
| EPS (Riyals) | (0.66) | 0.18 | 126.9 % |
| Item | Q4 2023 | Q1 2024 | Change |
|---|---|---|---|
| Revenues | 1,444.97 | 1,390.51 | (3.8 %) |
| Gross Income | 138.11 | 228.63 | 65.5 % |
| Operating Income | 23.62 | 105.21 | 345.3 % |
| Net Income | 18.46 | 99.52 | 439.0 % |
| Average Shares | 562.50 | 562.50 | - |
| EPS (Riyals) | 0.03 | 0.18 | 439.0 % |
This was primarily driven by higher revenue on increased production and sales volumes, despite lower average selling prices.
On a quarterly basis, net earnings increased by more than five-fold from SAR 18.46 million, on higher average selling prices.
Total shareholders’ equity, no minority interest, dropped to SAR 12.03 billion by March 31, 2024, compared to SAR 12.95 billion a year earlier.
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