Yansab’s profits plunge to $110.4mln in 2022 results

Revenues declined by 6.33% year-on-year

Staff Writer, Mubasher

February 6, 2023

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Riyadh – Yanbu National Petrochemical Company (Yansab) generated net profit after Zakat and tax worth SAR 414.10 million in 2022, lower by 72.96% than SAR 1.53 billion in 2021.

Revenues declined by 6.33% year-on-year (YoY) to SAR 7.02 billion in 2022 from SAR 7.49 billion, according to the annual financial results.

Furthermore, the earnings per share (EPS) stood at SAR 0.74 in the 12-month period that ended on 31 December 2022, down from SAR 2.72 in 2021.

In the first nine months (9M) of 2022, the net profits after Zakat and tax of Yansab plummeted by 57.32% YoY to SAR 510.60 million from SAR 1.19 billion.

The revenues grew by 2.60% to SAR 5.62 billion in 9M-22 from SAR 5.48 billion in 9M-21, whereas the EPS retreated to SAR 0.91 from SAR 2.13.

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