Saudi Arabia Fertilizers Co. announces the interim financial results for the period ending on 31-12-2016 (Twelve Months)

15-Jan-2017
ELEMENT CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR % CURRENT CHANGE PREVIOUS QUARTER % CHANGE PREVIOUS
NET PROFIT (LOSS) 284.5 378.6 -24.85 181.4 56.84
GROSS PROFIT (LOSS) 310.9 360.3 -13.71 202.4 53.61
OPERATIONAL PROFIT (LOSS) 290.9 342.3 -15.02 185.5 56.82
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENT CURRENT PERIOD SIMILAR PERIOD FOR PREVIOUS YEAR % CHANGE
NET PROFIT (LOSS) 1,051.3 2,130.5 -50.65
GROSS PROFIT (LOSS) 1,049.7 2,085.1 -49.66
OPERATIONAL PROFIT (LOSS) 980.3 2,013.8 -51.32
EARNING OR LOSS PER SHARE, RIYALS 2.52 5.11 -
All figures are in (Millions) Saudi Arabia, Riyals
ELEMENT EXPLANATION
REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH SAME QUARTER LAST YEAR Lower selling prices for the company's products and increase in feedstock costs and utilities, and decrease in the share of income from IBN-ALBAYTAR company because of schedule shutdown .However; increase in quantities sold for the Urea and Ammonia product minimized the effect.
REASONS OF INCREASE (DECREASE) FOR PERIOD COMPARED WITH SAME PERIOD LAST YEAR Lower selling prices for the Urea and increase in feedstock costs and utilities, and decrease in the share of income from IBN-ALBAYTAR company because of schedule shutdown .However; increase in quantities sold for the Urea product minimized the effect.
REASONS OF INCREASE (DECREASE) FOR QUARTER COMPARED WITH PREVIOUS QUARTER Higher selling prices for the company's products and a reduction on cost of sales because of adoption of cost optimization program and a reduction on the provision of spare parts inventory.
Reclassifications in quarterly financial results Certain of the prior periods amounts have been reclassified to conform to the presentation in the current period.
Other notes Sales revenue for the quarter ended Dec. 31 amounted to (765) MSAR and the decrease equivalent to 6% compared to the same quarter last year which was (814) MSAR. Sales revenue for the period ended Dec. 31 amounted to (2,856) MSAR and the decrease equivalent to 24% comparing to the same period last year which was (3,742) MSAR.The total shareholder's equity for this period amounted to 6,976 MSAR compared to the same period last year 7,596 MSAR decrease of 8% (no minority interest).Increase in the production Quantity by 17% and an increase in the Quantity sold by 13% for this year compared to the same period last year.On the other side, the average sales prices decreased by 23% for Urea and 37% for Ammonia during this year compared to the same period last year because of the global economic situation and also there is an increase in the feedstock and utilities which affected the company results during this period.

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