Saudi Aramco Base Oil Co. announces its Interim Financial Results for the Period Ending on 2023-06-30 ( Six Months )

Saudi Aramco Base Oil Co. announces its Interim Financial Results for the Period Ending on 2023-06-30 ( Six Months )

|Element List||Current Quarter||Similar quarter for previous year||%Change||Previous Quarter||% Change|

|Sales/Revenue||2,613.03||3,342.49||-21.82||1,796.74||45.43|

|Gross Profit (Loss)||550.51||593.34||-7.22||554.74||-0.76|

|Operational Profit (Loss)||480.65||536.61||-10.43||473.54||1.5|

|Net Profit (Loss) after Zakat and Tax||454.85||437.47||3.97||445.67||2.06|

|Total Comprehensive Income||454.85||454.86||-0||445.67||2.06|

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

|Element List||Current Period||Similar period for previous year||%Change|

|Sales/Revenue||4,409.77||6,083.24||-27.51|

|Gross Profit (Loss)||1,105.25||1,099.76||0.5|

|Operational Profit (Loss)||954.19||959.03||-0.5|

|Net Profit (Loss) after Zakat and Tax||900.52||740.1||21.68|

|Total Comprehensive Income||900.52||757.49||18.88|

|Total Share Holders Equity (after Deducting Minority Equity)||5,146.42||3,877.04||32.74|

|Profit (Loss) per Share||5.35||4.39|

|All figures are in (Millions) 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 increased in the current quarter compared to the same quarter of the last year 2022 driven by:

|

a decrease in zakat and income tax expenses due to Luberef being subjected to zakat only after its listing.

|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 increased in the current quarter compared to previous quarter due to:

|

An increase in revenue from base oil sales despite the reduction in base oil crack margins, in addition to that a decrease in selling and distribution expenses along with general and administrative expenses.

|The reason of the increase (decrease) in the net