TASI Petrochemicals gain SR 43 bln in 2021

Petrochemical companies listed on Tadawul recorded profits SR 43 billion in 2021 compared with losses of SR 1.99 billion in 2020. The sector’s companies recorded profit surge of 191% to SR 11.26 billion in Q4 2021 compared with the same period of 2020 when its profit stood at SR 3.9 billion.

On a quarterly basis, 6 petrochemical companies turned to profits in Q4 2021 led by SABIC Agri-Nutrients which recorded profit leap of 1083% to SR 2.76 billion compared with SR 233.6 million in Q4 2020.

According to data collected by Maaal, three other companies of Petrochemical sector recorded profit decline in Q4 2021 led by SIIG whose profit dropped 48.1% to SR 122 million against SR 235 million in Q4 2020, followed by Petrochem (17%).