Earnings Report /
Saudi Arabia

Advanced Petrochemicals: Weak SK Advanced earnings offset record sales

  • Revenues grew 43.0% yoy (+12.4% qoq) to SAR905mn, the highest level on record and slightly higher than our estimates

  • Gross profit stood at SAR251mn, up 15.9% yoy (-6.9% qoq) and was higher than our estimates of SAR224mn

  • Operating profit stood at SAR189mn, broadly in-line with our estimates, vs Q4 20 profit of SAR175mn

Iyad Khalid Ghulam
Iyad Khalid Ghulam

Vice President, Senior Equity Research Analyst

SNB Capital
9 January 2022
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