SATORP logs 65% lower losses in 2021
- Date: 20-Mar-2022
- Source: Mubasher
- Sector:Economy
- Country:Middle East
SATORP logs 65% lower losses in 2021
Riyadh – Mubasher: Arabian Aramco Total Services Company announced a 64.99% year-on-year (YoY) decline in the net profits after Zakat and tax of its parent company, Saudi Aramco Total Refining and Petrochemical Company (SATORP), to SAR 907.88 million in 2021 from SAR 2.59 billion.
Lower losses are driven by better refining and petrochemical margins and higher processing capacity for the refinery, according to a bourse filing on Sunday.
SATORP generated revenues of SAR 41.71 billion in 2021, up 84.43% from SAR 22.61 billion in 2020.
The losses per share stood at SAR 1.1 last year, against SAR 3.14 in 2020.
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