Riyadh – Mubasher: The net profits after zakat and tax of Saudi Basic Industries Corporation (SABIC) achieved net profits of SAR 18.1 billion during the first nine months of 2021, against net losses of SAR 2.18 billion in the year-ago period.
The company generated revenues of SAR 123.65 billion in the January-September period of 2021, up 47.01% from SAR 84.11 billion in the same period of 2020, according to a bourse filing on Thursday.
The earnings per share (EPS) settled at SAR 6.03 in the first nine months of 2021, against net losses of SAR 0.73 in the corresponding period of the earlier year.
During the third quarter (Q3) of 2021, the company’s net profits hiked to SAR 5.59 billion from SAR 1.09 billion in the same quarter of 2020.
SABIC announced earnings before interest, taxes, depreciation, and amortization (EBTIDA) of SAR 11.2 billion in Q3-21, up 98% year-over-year (YoY).
Commenting on the company’s performance, the Vice Chairman and CEO of SABIC, Yousef Abdullah Al-Benyan, said: “SABIC’s healthy financial performance during the third quarter of 2021 marked a continuation of our recovery from the impact of COVID-19, albeit at a lower level than our exceptionally strong performance during the second quarter.”
It is noteworthy to mention that during the first half (H1) of 2021, the company achieved net profits after Zakat and tax worth SAR 12.51 billion, against losses of SAR 3.27 billion in H1-20.
