Saudi Kayan Petrochemical Co. announces it Annual financial results ending on 2018-12-31

2/21/2019

Element List

Current Year

previous year

%Change

Sales/Revenue

12,263.15

9,983.92

22.829

Total Profit (Loss)

3,365.32

2,228.38

51.02

Profit (Loss) Operational

2,660.58

1,630.48

63.177

Net Profit (Loss) after Zakat and Tax

1,702.24

668.17

154.761

Total Comprehensive Income

1,790.89

656.7

172.71

Total Share Holders Equity (after deducting minority equity)

15,698.36

13,908.04

12.872

Profit (Loss) per Share

1.13

0.44

All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation

Reason for increase (decrease) in net profit for current year compared to last year	The reason of increase in net profit is due to the improvement in the operating performance for most of the plants that contributed to increase in quantities produced and sold and increase of average selling prices, despite of increase in administrative and general expenses selling and distribution and Finance charges.
Reason for increase (decrease) in net profit for current quarter compared to the previous quarter	The reason of net loss for the quarter is mainly due to a decrease in the average selling prices of most products, lower quantities sold and increase administrative, general expenses and selling and distribution, which has impacted the company results and despite of improved operational performance and higher quantities produced.
Type of the external auditor's opinion	Unmodified opinion
Reclassifications in quarter financial result	Certain previous period expenses have been re-classified to conform to the presentation of financial statements in the current year.
Additional Information	From January 1, 2018, the Company has adopted IFRS 9 and IFRS 15 with no material impact on the annual financial statements. Note that the Company will adopt IFRS No. 16 starting on January 1, 2019 .