Earnings Report /
Saudi Arabia

SIIG: Profits rise qoq with Petrochem’s acquisition

  • In Q2 22, SIIG’s share of profits from jointly managed projects decreased yoy due to an increase in feedstock costs.

  • Operating income stood at SAR299mn, decreasing 59.7% yoy (-19.7% qoq). This is in-line with our estimates of SAR296mn.

  • SIIG completed the acquisition of Petrochem on 10 April 2022 and SIIG’s ownership in Petrochem currently stands at 100%.

Iyad Khalid Ghulam
Iyad Khalid Ghulam

Head of Equity Research

SNB Capital
4 August 2022
Published bySNB Capital


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