| Reasons for increase (decrease) for the quarter compared with the same quarter last year |
The reasons for the decrease in the net income and gross profit during the current quarter compared with the same quarter of last year are:1-The decrease of SIIGs portion in the results of the projects managed jointly (SCP, JCP), which is due to lower prices of goods sold by them.2-An increase in feedstock and electricity costs, because of the newly applied government pricing that began the start of this year. And has decreased the company profits for this quarter by (32) Million SR.3-A Decrease in SIIGs portion of the National Petrochemical Company (Petrochem) profits to 104 Million SR in the current quarter compared to 153 Million SR for the same quarter of the previous year.4-An Increase in SIIG portion of the Petrochemical Conversion Company (PCC) losses to (51) Million SR in the current quarter compared to (21) Million SR for the same quarter of the previous year, which is due to the conversion of all the plants from projects under constructions to operating facilities.5-An increase in the finance charges. 6-An increase in the Zakat expenses.The reason for the decrease in the gross profit is due to Petrochem gross profit decrease. |
| Reasons for increase (decrease) for the period compared with the same period last year |
The reasons for the decrease in the net income and gross profit during the current period compared with same period of last year are: 1-Lower prices for goods sold by the projects managed jointly (SCP, JCP) 2-An increase in feedstock and electricity costs, because of the newly applied government pricing that began the start of this year. And has decreased the company profits for this period by (75) Million SR. 3-A Decrease in SIIGs portion of the National Petrochemical Company (Petrochem) profits to 165 Million SR in the current period compared to 204 Million SR for the same period of the previous year. 4-An Increase in SIIG portion of the Petrochemical Conversion Company (PCC) losses to (105) Million SR in the current period compared to (41) Million SR for the same period of the previous year, which is due to the conversion of all the plants from projects under constructions to operating facilities. The reason for the decrease in the gross profit is due to Petrochem gross profit decrease. |
| Reasons of increase (decrease) for quarter compared with previous quarter |
The reasons for the increase in the net income and gross profit during the current quarter compared with the previous quarter are:1-An increase in SIIGs portion of the National Petrochemical Company (Petrochem) profits to 104 Million SR in the current quarter compared to 61 Million SR for the previous quarter.2-An Increase in SIIGs portion of the projects managed jointly (SCP, JCP) profit, due to higher average prices of goods sold by them.The reason for the increase in the gross profit is due to Petrochem gross profit increase. |
| Reclassifications in quarterly financial results |
Certain prior period figures have been reclassified to conform with the presentation in the current period. |
| Other notes |
The Projects managed Jointly are those investment that are recorded in the financial statements using the equity method, and they are : 1)Saudi Chevron Phillips Company SCP 2) Jubail Chevron Phillips JCP 3) petrochemical conversion company PCC The SIIG’s share in the results of Petrochem are fully consolidated in the financial statements. |
