Riyadh – Mubasher: Yanbu National Petrochemical Company (Yansab) shifted to net losses worth SAR 485.10 million in 2023, against profits standing at SAR 414.10 million in 2022.
The company recorded 35.47% year-on-year (YoY) lower revenues at SAR 4.53 billion in 2023, versus SAR 7.02 billion, according to the annual financial results.
Loss per share reached SAR 0.86 as of 31 December 2023, compared to earnings per share (EPS) of SAR 0.74 in 2022.
Income Statements for Q4
During the fourth quarter (Q4) of 2023, Yansab logged net income amounting to SAR 18 million. This is compared to net losses valued at SAR 161 million in Q3-23.
Quarterly, the revenues hiked by 32% to SAR 1.44 billion in Q4-23 from SAR 1.09 billion as of 30 September 2023.
In December 2023, the Saudi firm announced the distribution of a cash dividend of SAR 0.75 per share for the second half (H2) of 2023.
Eligible shareholders will receive the dividends on Thursday, 14 March 2024.
