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Saudi Arabian Fertilizer Co. (SAFCO) announces the interim financial results for the period ending on 30-09-2020 (Nine Months)

10/20/2020

ELEMENT CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR % CURRENT CHANGE PREVIOUS QUARTER % CHANGE PREVIOUS
Sales/Revenue 902.13 909.71 -0.833 928.71 -2.862
Total Profit (Loss) 485.11 465.08 4.306 454.31 6.779
Profit (Loss) Operational 387.99 363.66 6.69 359.95 7.789
Net Profit (Loss) after Zakat and Tax 397.53 414.21 -4.026 359.8 10.486
Total Comprehensive Income 451.44 246.19 83.37 409.61 10.212
All figures are in (Millions) Saudi Arabia, Riyals

ELEMENT CURRENT PERIOD SIMILAR PERIOD FOR PREVIOUS YEAR % CHANGE
Sales/Revenue 2,559.21 2,442.01 4.799
Total Profit (Loss) 1,307.36 1,263.08 3.505
Profit (Loss) Operational 1,026.24 984.19 4.272
Net Profit (Loss) after Zakat and Tax 1,060.84 1,130.13 -6.131
Total Comprehensive Income 1,028.83 929.56 10.679
Total Share Holders Equity (after deducting minority equity) 7,983.42 7,585.6 5.244
Profit (Loss) per Share 2.55 2.71
All figures are in (Millions) Saudi Arabia, Riyals

ELEMENT EXPLANATION
Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to  The reasons of the decrease in the Net Income for the current quarter compared to the same quarter last year:

• Decrease in average selling prices for the company’s products

• Decrease in the company’s share of Ibn Ibn Al-Baytar Company Net Income.

Despite the decrease in Net Income, it has been limited by:

• Increase in quantities sold of company's products

• Increase in the other income as the Company has collected dividends from Financial assets at fair value through other comprehensive income

Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to  The reasons of the increase in the Net Income for the current quarter compared to previous quarter:

• Increase in average selling prices for the company’s products

• Increase in the company’s share of Ibn Ibn Al-Baytar Company Net Income

• Increase in the other income as the Company has collected dividends from Financial assets at fair value through other comprehensive income

Despite the increase in Net Income, it has been limited by:

• Decrease in quantities sold of company's products

Increase (Decrease) in Net Profit for Current Period Compared to the Similar Period of the Previous Year is Attributed to  The reasons of the decrease in the Net Income for the current period compared with same period last year:

• Decrease in average selling prices for the company’s products

• Decrease in the company’s share of Ibn Ibn Al-Baytar Company Net income.

• Decrease in the other income relevant to company's collection of its profits from financial assets at fair value through other comprehensive income

Despite the decrease in Net Income, it has been limited by:

• Increase in quantities sold of company's products

Basis of the External Auditor's Opinion  Unmodified opinion
Reclassification of Comparison Items  NA