Sadara Basic Services Company announces its Annual Financial results of its parent company, Sadara Chemical Company for the period ending on 2023-12-31

Sadara Basic Services Company announces its Annual Financial results of its parent company, Sadara Chemical Company for the period ending on 2023-12-31

|Element List||Current Year||Previous Year||%Change|

|Sales/Revenue||10,708,373||14,473,286||-26.01|

|Gross Profit (Loss)||-1,234,875||1,025,613||-|

|Operational Profit (Loss)||-1,823,748||485,135||-|

|Net profit (Loss)||-3,544,603||-1,858,791||90.69|

|Total Comprehensive Income||-3,751,520||-285,522||1,213.92|

|Total Share Holders Equity (After Deducting the Minority Equity)||2,023,005||5,916,035||-65.8|

|Profit (Loss) per Share||-1.03||-0.56|

|All figures are in (Thousands) Saudi Arabia, Riyals|

|Element List||Amount||Percentage of the capital (%)|

|Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value||-||-|

|Accumulated Losses||-34,263,991||96.18|

|All figures are in (Thousands) Saudi Arabia, Riyals|

|Element List||Explanation|

|The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year||The decrease in revenue compared to the previous year is primarily attributed to lower sales volumes by 10% and lower average sales prices by 21%. Additionally, revenue was impacted by planned manufacturing maintenance activities mainly in the Mixed Feed Cracked and downstream manufacturing processes.|

|The reason of the increase (decrease) in the net profit during the current year compared to the last year is||The key contributing factors to the decrease in Net Profit include compressed margins due to lower sales volumes and reduced average sales prices, along with the mentioned planned manufacturing maintenance activities. However, there were mitigating factors, including a mild reduction in production costs and a favorable impact from the accounting modification of shareholders loan in 2023.|

|Statement of the type of external auditor's report||Unmodified opinion|

|Comment mentioned in the