| ELEMENT | CURRENT QUARTER | SIMILAR QUARTER FOR PREVIOUS YEAR | % CHANGE CURRENT | PREVIOUS QUARTER | % CHANGE PREVIOUS |
|---|---|---|---|---|---|
| Net profit (loss) | 55 | 85 | -35.29 | 207 | -73.43 |
| Gross profit (loss) | 546 | 613 | -10.93 | 758 | -27.97 |
| Operational profit (loss) | 341 | 401 | -14.96 | 647 | -47.3 |
| All figures are in (Millions) Saudi Arabia, Riyals |
| ELEMENT | CURRENT PERIOD | SIMILAR PERIOD FOR PREVIOUS YEAR | % CHANGE |
|---|---|---|---|
| Net profit (loss) | 727 | 933 | -22.08 |
| Gross profit (loss) | 2,482 | 2,299 | 7.96 |
| Operational profit (loss) | 2,069 | 2,097 | -1.34 |
| Earning or loss per share, Riyals | 1.62 | 2.07 | – |
| All figures are in (Millions) Saudi Arabia, Riyals |
| ELEMENT | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for quarter compared with same quarter last year | 1. The projects managed jointly (SCP-JCP) had made a losses during the current quarter and the SIIG portion from this losses was SR (3) Million compared to SR 11 Million dividend in the same quarter of the last year, and this is due to the low prices and the low quantities of sales because of the planned periodic maintenance shutdowns as being announced on 30 Sep 2015, The shutdown schedule was as following: – SCP shutdown for 30 days starting on 1 Oct 2015. – JCP shutdown for 37 days starting on 1 Oct 2015. 2. The increase of SIIG portion in Petrochemical conversion company (PCC) losses to be SR (24) Million in the current period compared to SR (11) Million for the same period of the last year, and it was due to the switching of some plants from projects under constructions to starting operation. 3. The decrease of SIIG portion in Petrochem results, which is SR 89 Million for the current quarter, compared to SR 96 Million for the same quarter last year, and this is due to the decrease in the average selling prices for Petrochem subsidiaries products. |
| Reasons of increase (decrease) for period compared with same period last year | 1. The decrease of SIIG portion in the projects managed jointly (SCP, JCP), in this current period it was SR 408 Million compared to SR 633 Million for the same period in the last year, and this decrease due to the low average prices and the low quantities of sales for those projects because of the planned periodic maintenance shutdowns in the fourth quarter in 2015. 2. The increase of SIIG portion in Petrochemical conversion company (PCC) losses to be SR (90) Million in the current period compared to SR (28) Million for the same period of the last year, and it was due to the switching of some plants from projects under constructions to starting operation. 3. Even there was an increase of SIIG portion in Petrochem results, which is SR 453 Million for the current period, compared to SR 387 Million for the same period in the last year, and this is due to the improvement in the profit margin, increase in the sales, and lower selling costs and marketing, general and administrative costs in Petrochem subsidiaries companies. |
| Reasons of increase (decrease) for quarter compared with previous quarter | 1. The projects managed jointly (SCP-JCP) had made a losses during the current quarter and the SIIG portion from this losses was SR (3) Million compared to SR 82 Million dividend in the previous quarter, and this is due to the low prices and the low quantities of sales because of the planned periodic maintenance shutdowns in the fourth quarter in 2015. 2. The decrease of SIIG portion in Petrochem results, which is SR 89 Million for the current quarter, compared to SR 161 Million for the previous quarter, and this is due to the decrease in the selling prices for Petrochem subsidiaries products. |
| Reclassifications in quarterly financial results | Certain prior period figures have been re-classified to conform with the presentation in the current period. |
| Other notes | The Projects managed Jointly means that the projects reflected in the financial statements according to the equity method investment, and they are: 1. Saudi Chevron Phillips Company (SCP) 2. Jubail Chevron Phillips Company (JCP) 3. Petrochemical Conversion Company (PCC). The SIIGs share in the results of Petrochem are incorporated in the financial statements in according to the method of full consolidation. |