‎“Yansab” records losses of 369.7 million riyals during Q1‎

Yanbu National Petrochemical Company “Yansab” recorded losses after zakat and tax of 369.7 million riyals during the first quarter, compared to a profit of 283 million riyals in the same quarter of last year. This came after the announcement today of the preliminary financial results for the period ending in 2023- 03-31 (3 months).

The operational loss amounted to 366.6 million riyals in the first quarter, compared to a profit of 316.5 million riyals in the same quarter of the previous year.

As for gross loss, it amounted to 239.6 million riyals in the first quarter, compared to a profit of 437.3 million riyals in the same quarter of the previous year.

The loss per share in the current period amounted to 0.66 riyals, compared to a profit of 0.5 riyals in the same period last year.

The reason for the net loss is due to the decrease in the quantities produced and sold as a result of the suspension of all the company’s factories for preventive maintenance work, as announced on the Tadawul website on November 20, 2022 AD, as the company completed the preventive maintenance work for the company’s complex and the gradual start-up of its factories, in a period of less than Note that the financial impact of this stop is estimated at 385 million Saudi riyals, as announced on the Tadawul website on March 02, 2023 AD, in addition to the decrease in the average selling prices of all products compared to their level in the corresponding quarter.

The reason for the net loss is due to the decrease in the quantities produced and sold as a result of the suspension of all the company’s factories for preventive maintenance work, as announced on the Tadawul website on November 20, 2022 AD, as the company completed the preventive maintenance work for the company’s complex and the gradual start-up of its factories, in a period of less than Note that the financial impact of this stop is estimated at 385 million riyals, as announced on the Tadawul website on March 02, 2023 AD.

The company said that some comparative numbers have been reclassified to conform to the offer for the current period

The loss per share in the current period amounted to 0.66 riyals, compared to a profit of 0.5 riyals in the same period last year.

The reason for the net loss is due to the decrease in the quantities produced and sold as a result of the suspension of all the company’s factories for preventive maintenance work, as announced on the Tadawul website on November 20, 2022 AD, as the company completed the preventive maintenance work for the company’s complex and the gradual start-up of its factories, in a period of less than Note that the financial impact of this stop is estimated at 385 million Saudi riyals, as announced on the Tadawul website on March 02, 2023 AD, in addition to the decrease in the average selling prices of all products compared to their level in the corresponding quarter.

The reason for the net loss is due to the decrease in the quantities produced and sold as a result of the suspension of all the company’s factories for preventive maintenance work, as announced on the Tadawul website on November 20, 2022 AD, as the company completed the preventive maintenance work for the company’s complex and the gradual start-up of its factories, in a period of less than Note that the financial impact of this stop is estimated at 385 million riyals, as announced on the Tadawul website on March 02, 2023 AD.

The company said that some comparative numbers have been reclassified to conform to the offer for the current period.