Saudi Aramco: 2023 financial results to be announced on March 11

Saudi Arabian Oil Company “Saudi Aramco” explained that it will announce its financial results for the fiscal year 2023 on next March 11.

The company recorded a record net income of 604.0 billion riyals in 2022, which represents its highest annual profits as a company listed on the financial market, indicating that these results were supported by strong oil prices, large quantities sold, and improved profit margins for refined products.

The company also recorded a net profit of 122.19 billion riyals during the third quarter, compared to 159.12 billion riyals in the same quarter of last year, a decrease of 23.2%.

Operating profit reached 234.45 billion riyals during the third quarter, compared to 300.23 billion riyals in the same quarter of 2022, a decrease of 21.9%.

Total sales/revenues amounted to 424.1 billion riyals during the third quarter, compared to 543.71 billion riyals in the same quarter of 2022, a decrease of 22%.