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Saudi Arabia Fertilizers Co. (SAFCO) announces the interim financial results for the period ending on 31-03-2018 (Three Months)


NET PROFIT (LOSS) 237.2   423.36   -43.97
GROSS PROFIT (LOSS) 358.32   479.52   -25.28
OPERATIONAL PROFIT (LOSS) 241.58   394.56  
All figures are in (Millions) Saudi Arabia, Riyals


Reasons of increase (decrease) for quarter compared with same quarter last year

Reasons of increase (decrease) for quarter compared with previous quarter

The reason of the decrease in the net profit due to the increase in costs related to organization restructuring to face the future challenges and support company strategy. Also, there was a decrease in company share from Ibn AlBaytar profit. In addition, increase in depreciation costs because of capitalization for some reliability projects during last year

The reason of the increase in the net profit due to increase in sales quantities for company products due to that the company has accomplished the turnaround for SAFCO 4 in Q4 2017 to perform the reliability project which affects company financial performance in Q4 as announced earlier

Reclassifications in quarterly financial results

Certain items have been restated in the financial statements for the previous period in line with the presentation of the current period
Other notes 1- Sales revenues for the current quarter amounted to 810.76 million Saudi Riyals, decreased 4.24% compared to sales revenues for the same quarter last year amounted to 846.65 million Saudi Riyals, and increased by 31.61% compared to sales revenues for the last quarter amounted to 616.05 million Saudi Riyals. 2- Total shareholders 'equity (no minority interest) during the current period amounted to 6,832.24 million Saudi Riyals against shareholders' equity of 6,860.63 million Saudi Riyals for the same period last year with a decrease of 0.41%. 3- Total comprehensive income during the current quarter reached to 388.29 million Saudi Riyals compared to 453.73 million Saudi Riyals for the same quarter last year with a decrease of 14.42% and an increase of 516.43% compared to the previous quarter of 62.99 million Saudi Riyals