Saudi Arabian Oil Company (Saudi Aramco) Announces its Interim Financial Results for the Period Ended 2023-03-31 (Three Months)

Saudi Arabian Oil Company (Saudi Aramco) Announces its Interim Financial Results for the Period Ended 2023-03-31 (Three Months)

All figures are in (Billions) Saudi Arabia, Riyals

Element List

Current Period

Similar period for previous year

%Change

Total Share Holders Equity (after Deducting Minority Equity)

1,491.61

1,197.35

24.57

Profit (Loss) per Share

0.49

0.59

All figures are in (Billions) Saudi Arabia, Riyals

Element List

Explanation

The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is

Net income for the first quarter of 2023 was SAR 119.54 billion ($31.88 billion), compared to SAR 148.03 billion ($39.47 billion) for the same quarter in 2022. The decrease was mainly driven by lower crude oil prices, partially offset by lower income taxes and zakat and higher finance and other income.

The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is

Net income for the first quarter of 2023 was SAR 119.54 billion ($31.88 billion), compared to SAR 115.22 billion ($30.73 billion) for the fourth quarter of 2022. The increase is mainly driven by lower income taxes and zakat, lower operating costs, and higher finance and other income. This was partially offset by lower crude oil prices.

Statement of the type of external auditor's report

Unmodified conclusion

Reclassification of Comparison Items

None

Additional Information

* Given the nature of Saudi