Earnings Report /
Saudi Arabia

Sipchem: Q2 21 review – Record-high profits

  • Sipchem reported a strong set of Q2 21 results with a net income of SAR830mn, marking the highest quarterly profits

  • Revenues came in at SAR2.36bn, up 149% yoy (+16.3% qoq). This is the highest quarterly revenues on record

  • Gross profit stood at SAR1.48bn, significantly higher than our estimates of SAR1.13bn.

Iyad Khalid Ghulam
Iyad Khalid Ghulam

Vice President, Senior Equity Research Analyst

SNB Capital
5 August 2021
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