Yansab announces the interim financial results for the period ended 31/12/2012 (twelve months) 16/01/2013

Yanbu National Petrochemical Company (Yansab) announces the interim financial results for the period ended  31/12/2012:

1. The net income for the fourth quarter 2012 was SR 640.77 million compared to SR 664.88 million for the same quarter last year with a decrease of 3.6% and compared to SR 435.73 million for the previous quarter with an increase of 47.1%.

2. The gross profit for the fourth quarter 2012 was SR 788.85 million compared to SR 786.41 Million for the same quarter last year with an increase of 0.3%.

3. The operating income for the fourth quarter 2012 was SR 727.90 million compared to SR 734.20 million for the same quarter last year with a decrease of 0.9%.

4. The net income for the twelve months period ended December 31, 2012 was SR 2,446.36 million compared to SR 3,174.33 million for the same period last year with a decrease of 22.9%.

5. The earnings per share for the twelve months period ended December 31, 2012 was SR 4.349 compared to SR 5.643 for the same period last year.

6. The gross profit for the twelve months period was SR 3,109.01 million compared to SR 3,793.08 million for the same period last year with a decrease of 18%.

7. The operating income for the twelve months period was SR 2,875.37 million compared to SR 3,617.68 million for the same period last year with a decrease of 20.5%.

8. The decrease in the net income in the fourth quarter 2012 compared to the same quarter last year is mainly due to the decrease in the other incomes as a result of the settlement of insurance claim received from insurance companies in the fourth quarter last year.

9. The decrease in the twelve months period compared to the same period last year is due to lower prices of most products, however, the increase in the sold quantities contributed to the reduction of the decrease.

10. The increase in the fourth quarter 2012 compared to the previous quarter is due to higher prices of most products as well as the increase in the sold quantities.

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