Yanbu National Petrochemical Co. announces the interim financial results for the period ending on 30-09-2016 (Nine Months)

23 Oct 2016
ELEMENTCURRENT QUARTERSIMILAR QUARTER FOR PREVIOUS YEAR% CURRENT CHANGEPREVIOUS QUARTER% CHANGE PREVIOUS
NET PROFIT (LOSS)607.6301.7101.39689.3-11.85
GROSS PROFIT (LOSS)704.3434.662.06795.2-11.43
OPERATIONAL PROFIT (LOSS)656.4381.472.1738-11.06

All figures are in (Millions) Saudi Arabia, Riyals 


ELEMENTCURRENT PERIODSIMILAR PERIOD FOR PREVIOUS YEAR% CHANGE
NET PROFIT (LOSS)1,698.8
814.2108.65
GROSS PROFIT (LOSS)2,020.81,220.365.6
OPERATIONAL PROFIT (LOSS)1,868.21,061.875.95
EARNING OR LOSS PER SHARE, RIYALS3.021.45-        

All figures are in (Millions) Saudi Arabia, Riyals 

ELEMENTEXPLANATION
REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH SAME QUARTER LAST YEARThe increase in net profit is attributable to the increase in sales volumes and decrease in cost of sales mainly due to lower prices of some feedstock materials as announced in Tadawul on 25 Feb. 2016, despite decrease in average sales prices for most of the products, Noting that there is an increase in Murabaha investment return and decrease in financial charges.
REASONS OF INCREASE (DECREASE) FOR PERIOD COMPARED WITH SAME PERIOD LAST YEARThe increase in net profit is attributable to higher production and sales volumes resulted from completion of turnaround activities during 2Q of 2015 as announced in Tadawul on 31st May 2015 and decrease in cost of sales mainly due to lower prices of some feedstock materials as announced in Tadawul on 25th Feb 2016 , despite decrease in average sales prices for most of the products, Noting that there is an increase in Murabaha investment return and decrease in financial charges.
REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH PREVIOUS QUARTERThe decrease in net profit is attributable to the decrease in sales volumes and decrease in average sales prices for most of the products despite a decrease in cost of sales mainly due to lower prices of some feedstock materials as announced in Tadawul on 25th Feb 2016.
RECLASSIFICATIONS IN QUARTERLY FINANCIAL RESULTSCertain amounts have been reclassified to conform to the presentation of current period
OTHER NOTESThe increase in Gross profit for current quarter compared with same quarter last year is attributable to the increase in sales volumes and decrease in cost of sales mainly due to lower prices of some feedstock materials as announced in Tadawul on 25th February 2016, despite decrease in average sales prices for most of the products. The increase in Gross profit for current period compared with same period last year is attributable to higher production and sales volume resulted from completion of turnaround activities during 2Q of 2015 as announced in Tadawul on 31st May 2015 and decrease in cost of sales mainly due to lower prices of some feedstock materials as announced in Tadawul on 25th February 2016, despite decrease in average sales prices for most of the products.The decrease in Gross profit for current quarter compared with last quarter is attributable to the decrease in sales volumes and decrease in average sales prices for most of the products despite decrease in cost of sales mainly due to lower prices of some feedstock materials as announced in Tadawul on 25th February 2016.The increase in Operating profit for current quarter compared with same quarter last year is attributable to the increase in sales volumes and decrease in cost of sales mainly due to lower prices of some feedstock materials as announced in Tadawul on 25th February 2016, despite decrease in average sales prices for most of the products. The increase in Operating profit for current period compared with same period last year is attributable to higher production and sales volume resulted from completion of turnaround activities during 2Q of 2015 as announced in Tadawul on 31st May 2015 and decrease in cost of sales mainly due to lower prices of some feedstock materials as announced in Tadawul on 25th February 2016, despite decrease in average sales prices for most of the products.The decrease in Operating profit for current quarter compared with last quarter is attributable to the decrease in sales volumes and decrease in average sales prices for most of the products despite decrease in cost of sales mainly due to lower prices of some feedstock materials as announced in Tadawul on 25th February 2016. The Sales for this quarter amounted to 1,725.71 MSAR compared to the same quarter last year 1,800.3 MSAR a decrease of 4.0%. The Sales for this period amounted to 5,121.5 MSAR compared to the same period last year 5,080.4 MSAR an increase of 0.81%. The total shareholder's equity (no minority interest) for this period amounted to 15,643.1 MSAR compared to the same period last year 14,958.9 MSAR an increase of 4.57%.

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